BTG (LON:BTG) expects to report revenue for the year ended 31 March 2011 in the range £108 million to £114 million including recurring revenue of £98 million to £102 million. BTG also expects to report cash and cash equivalents at 31 March 2011 in the range £68 million to £73 million.
Shares in HMV Group (LON:HMV) tumbled 10 percent after the retailer said that since the beginning of March, trading conditions have remained difficult, and with four weeks of the group's financial year to go, the board now expects profit before tax and exceptional items for the full year to be around £30 million.
Matra Petroleum (LON:MTA) announced the commencement of production from both existing wells in the Sokolovskoe Field, Russia. Neither well has yet stabilised and as expected both will require acid stimulation and/or pump installation to maximise production rates. Well -13 is currently producing approximately 65 barrels of oil per day (bopd) and well-12 approximately 100-150 bopd.
AFC Energy (LON:AFC) has signed a commercial Memorandum of Understanding (MoU) with leading retailer the John Lewis Partnership, to evaluate the economic potential of using of its fuel cell system to generate low carbon emission electricity for Waitrose supermarkets and John Lewis stores.
Jubilee Platinum (LON:JLP) has executed a binding memorandum of understanding for the acquisition of an operating company that treats near-surface chrome ore bodies containing platinum group elements and an associate company, which holds certain mining and prospecting rights.
Tanfield Group (LON:TAN) slid 13 percent after reporting its preliminary 2010 results. Revenues were little changed from the previous year at £43.5 million, as was operating loss of £15.8 million compared to the £16 million loss in 2009. Net cash decreased from £5.4 million to £3.6 million at 31 December.
“As the market for aerial lifts is now beginning to return to growth, we expect that 2011 will be a transitional year, where we move closer to a break-even position. With a healthy cash balance and no debt, I believe Tanfield is on the right path to recovery and a secure future,” said chairman of Tanfield Jon Pither.
Dominion Petroleum (LON:DPL) has secured a one year extension to the initial exploration period for its deepwater Block 7 in Tanzania.
The extension, which was granted by Tanzania’s ministry of energy and minerals, removes any obligation for the company to relinquish any portion of Block 7 until May of next year, providing Dominion with much more time to more fully evaluate the acreage before a mandatory 50 percent relinquishment at the close of the initial period.
Medusa Mining (LON:MML, ASX:MML, TSE:MLL) gave investors a run-down of the latest drill results from the Co-O gold mine in the Philippines. The highlights include a 2 metre intersection grading 219.17 grams per tonne (g/t) gold in one hole. The other drill highlights had widths between 0.8 and 13.10 metres with grades ranging from 12.49 to 47.81 g/t gold.