Troubled coal miner New World Resources (NWR) has disappointed investors seeking valuation realisation from its portfolio of interests in the Czech Republic, sending the shares down 7.8% to 62.25p. The small cap is resigned to the fact that it won't be able to sell assets in the current depressed market. Therefore it may shut down the Paskov mine (pictured above), a decision expected in upcoming weeks. Shares has long held a negative view towards New World Resources in the belief that it couldn't sustain loss-making operations unless there was a clear sign that coal prices would recover. The stock is now down 78% since we said to 'sell' in February.
Further forecast upgrades accompanied yet another tasty trading update from premium chocolate maker Thorntons (THT). Yet the shares fell 6.2% to 91p in early dealings as investors took some profits off the table after a year-long rally in the stock, as we discuss in detail here.
Shares in cake and speciality bread maker Finsbury Food (FIF:AIM) baked in a 6.1% gain at 65p as investors digested a strong pre-close trading update. The £39 million cap said profits for the year ended 29 June will be 'significantly ahead of expectations' and having returned to the dividend list at the half-year, will recommend a final dividend of 0.5p for a total payment of 0.75p for the year.
A terrible set of half-year results from recruitment agent SThree (STHR) has pulled down the share price 2.6% to 353p. It has underperformed sector peers in the UK and suffered from a sharp hike in costs. This has eaten into the operating profit and triggered a large drop in earnings.
Cashflow problems and project delays have overshadowed a contract extension at Shaft Sinkers (SHFT), pulling the shares down 25.6% to 16.75p. Read our thoughts on the mining services group.
Interserve (IRV) nudged ahead 1.4% to 516p after buying Middle East oil and gas services group Topaz for $46 million.
Real estate group-to-iron ore trader Prosperity Minerals (PMHL:AIM) jumped 33.5% to 105.5p after PHIL said it was considering a takeover bid at a maximum 130p per share.
Long-term disaster SocialGo (SGO:AIM) has finally realised its community website service was not a commercial proposition, selling the business for a pound. It now becomes a cash shell, much to the disappointment of its followers, the shares down 66% to 0.08p.
There's also a reinvention planned for Pursuit Dynamics (PDX:AIM) which wants to buy three online social gaming and gambling businesses. A deal is expected to complete on 1 August. That month should also see the Aim debut of GOS Systems, a security group that wants to raise £8 million and join the stockmarket.
Marine transportation specialist Hellenic Carriers (HCL) rose 5.1% to 20.75p after saying two subsidiaries should take delivery of two vessels currently at the final stage of construction in China, in August and September/October respectively, with each contract priced at US$26.3 million.
Mining services provider MDM Engineering (MDM:AIM) ticked up 2.4% to 129.5p after announcing a letter of intent with Hummingbird Resources (HUM:AIM) to carry out a detailed feasibility study and front end engineering and design for its Dugbe 1 project in Liberia.
South East Asian oil explorer Salamander Energy (SMDR) fell 5% to 144.1p after its Rayong well in the Gulf of Thailand failed to deliver a commercial discovery. This is the first in a multi-well campaign.
