UK SMALLCAP ROUNDUP: Beowulf's Kallak Ore Deeper Than Thought

12th Jul 2010 12:30

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps BEOWULF MINING PLC (BEM.LN), an iron ore explorer, said Monday the latest drilling results from its Kallak project in Sweden show ore is present at much deeper levels than previously thought. The company has completed roughly half of a 3,500 meter drilling program at Kallak North and said results are highly encouraging, as they show the ore body extends much deeper than expected. At 1055 GMT shares +0.51 pence, or 13%, at 4.39 pence. DOMINO'S PIZZA UK & IRL PLC (DOM.LN), a pizza delivery company, said the soccer World Cup and its sponsorship of prime-time television show Britain's Got Talent helped drive a 31% increase in first-half pretax profit, with the launch of a new lunchtime menu set to continue boosting earnings in its second half, when it faces "very tough" comparatives. At 1055 GMT shares -6 pence, or 1.4%, at 397 pence. KIER GROUP PLC (KIE.LN), a U.K. construction firm, said Monday it expects fiscal 2010 underlying pretax profit to be towards the upper end of current market expectations and ahead of last year, and remains confident for the fiscal 2011 despite expecting further cuts to public sector spending. At 1055 GMT shares +54 pence, or 5.7%, at 996 pence. GRIFFIN MINING LIMITED (GFM.LN) said it produced record levels of zinc, gold and silver during its first half. The firm said it processed 260,317 metric tons of ore at its Caijiaying zinc gold mine in Northern China in the six months to June 30, compared with 81,281 tons of ore a year earlier. The firm said its production and financial results are expected to continue improving. At 1055 GMT shares +2 pence, or 5.5%, at 43 pence. IMMUNODIAGNOSTIC SYSTEMS HOLDINGS PLC (IDH.LN), a diagnostic company, increased its dividend 21% after booming sales of its vitamin D tests meant fiscal-year profit more than doubled. The company added Chief Executive Roger Duggan will stand down in October and will be replaced by Chief Operating Officer Ian Cookson. At 1055 GMT shares +25 pence, or 3.4%, at 770 pence at 745 pence. FALKLAND OIL & GAS LTD. (FOGL.LN), an oil explorer, Monday said it plugged and abandoned the Toroa well after failing to find any oil. The well, offshore the Falkland Islands, was drilled to almost 2,500 meters but hydrocarbons weren't found, the company said. At 1055 GMT shares -97 pence, or 48%, at 105 pence. ANGEL MINING PLC (ANGM.LN), a gold, zinc and lead explorer, said it agreed a $4.5 million loan that will enable it to begin full production at its Nalunaq gold project. Angel Mining added it is in talks with a third party about a debt facility of up to $100 million. Such a facility would enable the company to resolve its default and clear its existing loans, Angel Mining said. At 1055 GMT shares -1 pence, or 11.5%, at 6 pence. WEATHERLY INTERNATIONAL PLC (WTI.LN), a copper miner, said it signed a preliminary agreement with East China Mineral Exploration and Development Bureau to jointly develop Weatherly's Berg Aukas lead and zinc project in Namibia. The company said it signed a letter of intent with East China Mineral Exploration and Development Bureau to form a new company focused on Berg Aukas and float it on London's junior Alternative Investment Market. At 1055 GMT shares flat at 3.33 pence. FIRESTONE DIAMONDS PLC (FDI.LN), a diamond miner, said it began mining operations at its BK11 mine in Botswana. The start of operations follows the granting of a mining license for the project. At 1055 GMT shares +0.44 pence, or 1.2%, at 36.69 pence. DJ UK Smaller Cos -0.02% AIM -0.14% -By Hannah Benjamin, Jason Douglas and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9298; [email protected] (END) Dow Jones Newswires July 12, 2010 07:30 ET (11:30 GMT)