Small caps round-up: Norseman Gold, Cohort, Kea...

27th Oct 2010 12:29

Australian miner Norseman Gold suffered a drop in production during the first quarter to 12,229 ounces from 14,469 ounces in the three months to June following a fatality at the OK Decline in August. The accident caused a three week shutdown at the mine and meant output was well below target but in line with expectations. There was also a projected A$1.1m loss compared with a A$0.8m profit the previous quarter.Defence and security technical services firm Cohort is at a two-month high after a team it is part of was selected as the preferred bidder for the Ministry of defence's Project Shepherd. If selected, the company will provide advanced data management system for an information management upgrade for the Defence Electronic Warfare Centre (DEWC). Negotiations are ongoing.Cohort also said trading in the first five months of the financial year to 30 April 2011 has been "satisfactory", leaving the group on track to meet expectations for the 12 months.New Zealand based oil and gas explorer Kea Petroleum lost £1.25m before tax in the year ended 31 May, but has over £20m of cash on its balance sheet."2011 promises to be an exciting year as Kea's planned drilling programme continues to provide ample opportunities to bring success to the company through further oil and gas discoveries," said chairman Ian Gowrie-Smith.UK Commercial Property Trust, the largest UK focused commercial property trust, reports a 0.3% fall in its net asset value (NAV) to 76.6p as at 30 September from 76.8p at the end of June.The value of its property portfolio rose to £888.1m from £872m at the 31 May on a like for like basis, benefiting from "active asset management initiatives". "Although there is caution about the near term outlook for the economy and the property market, the prime qualities of the company's portfolio and its strong balance sheet combined with the strength and skills of its asset management team allow us to remain confident about the company's prospects," it said. This latest order, which brings the total number of orders to six with three units installed and a further unit due to ship within weeks, was secured by Isogen the recently appointed European distributor. The Company has recently seen a significant increase in validated sales leads for Optim in the US and Europe following several successful trade shows, and a sharp rise in the number of customers sending test samples to evaluate Optim as part of their purchasing process.Broadband satellite operator Avanti Communications has signed a three year managed services contract with the Hungarian service provider Banknet Kft. This service will be delivered by Avanti's HYLAS 1 satellite due for launch on 25 November 2010.The share price of land developer Henry Boot got a leg-up on Wednesday from news that it has received planning permission for a major mixed use regeneration scheme in Bridgwater, Somerset. The 110 hectare site, comprising part brownfield and part greenfield land, is located adjacent to the M5 and is a major element of the Bridgwater Challenge initiative to revitalise the economic fortunes of the town. DQ Entertainment, the entertainment production and distribution company, has signed a home video distribution deal with by Play Records Marketing & Distribution Ltd of Israel for the 3D animated TV series "The Jungle Book".DQ will receive a minimum guarantee as upfront payment for the licence and will also be entitled to a royalty on future sales during the three year licence period. Kenmare Resources says the search to find a four year old girl missing since its Moma Mine in Mozambique flooded into the nearby village of Topuito is continuing, but it is now operating under the assumption that the little girl has been lost. In total, 388 houses were affected by the flood and a compensation committee has been set up to agree compensation for each family's lost goods. Leni Oil says production has re-commenced at its Hontomin-2 well at a restricted rate and shall be increased over the next few weeks to a stabilized test rate. Flowrates as at 26 October 2010 were 167 bpd with a 67% watercut and oil of 32 degrees API.