3D Diagnostics Imaging (3DD 6.5p / £11.08m)
3D Diagnostics, which owns the protected rights to a technology platform with a number of significant potential commercial products, announced results for the 6 months to 31 December 2010. Whilst the Company generated £566,000 of revenue over the period (2009: nil), losses before tax came in at £980,000 (2009: loss of £478,000), much of which is possibly due to costs associated with the move to AIM completed by 3D in November 2010. At the same time the Company raised £2.7m which should serve it well in expanding the business- having signed distribution agreements with Patterson Dental last year, early sales of the CarieScan Pro device into the US and Canada have been promising and we look forward to further updates on trading in those territories.
African Eagle (LON:AFE) (AFE 11.88p / £48.59m)
African Eagle Resources, an exploration and development company, announced last week that the Whittle Optimisation report for the Dutwa nickel project in Tanzania has shown that mining costs will be low, with a strip ration of 0.5 to 1 and concluded that, on current evidence, the Dutwa Project is likely to be economically viable, irrespective of whether agitated tank leach or heap leach is eventually chosen as the process route. The optimisation will be revised when the resource model has been upgraded from inferred to indicated or measured category under the JORC code, as better geotechnical data becomes available and as confidence improves in the capital and operating cost estimations. Because the Dutwa deposits are at the surface, mining will be relatively straightforward and the waste to ore strip ratio very low, between 0.45 and 0.53 to 1.
Belgravium (BVM 5p / £5.05m)
Belgravium, the designer and supplier of mobile data capture systems, announced its preliminary results for the year ended 31 December 2010. The Group manufactures and installs complete systems incorporating both hardware and software for real time data capture in the logistics, petrochemical and mobile retailing markets. The chairman reported another year of increased profit before tax on steady sales - as well as a substantial reduction in the net debt position from £1.4m to £260,000.
The tone looking forward was one of cautious optimism as the company reported entering the New Year with a better order book than for the past three years and having made real progress against its…
