HDY.L Share News (HDY)

Australian coal miner Caledon Resources posted heavy losses in the six months to June 30 due to the strengthening of the Australian dollar, despite a recovery in coal prices.It posted a loss of A$7.1m, marginally less than the $7.7m deficit of the same period the previous year, as revenues slipped to $39.4m from $39.6m.The average US dollar price received during the current period was $143 a tonne, up from $121 a tonne, but revenue received per tonne in A$ was lower at A$161 a tonne down from A$173/t due the average exchange rate for the period rising to US$:A$0.89 from US$:A$0.70.Hardy Oil and Gas shares have been boosted by news of a fourth successive gas discovery in India.The well KGV-D3-W1 in the Krishna Godavari basin on the East Coast of India was drilled to a total measured depth of 3,501 m at a water depth of 1,653 m. A gross gas pay zone of 37.5m was encountered in Pliocene aged sands.Namibian Resources, which mines for diamonds in Namibia, said the year to February 28 was 'disappointing as expected due to the cessation of production at Sonnberg following the near collapse of the international diamond market and soaring fuel costs.'The company posted no revenues for the year, having turned over £127,580 the previous year, but pre-tax losses narrowed to £289,353 from £492,485.Australian gold miner Norseman Gold has also been holding back on production.Pre-tax losses plunged to A$1.1m in the year to June 30, from $22.2m the previous year, as revenues fell to $74.4m from $96.7m. The company concentrated on exploration and development during the period rather than production, to bring about 'the full utilisation of our existing processing plant that had been underutilised for many years prior to our involvement.'Catalytic Solutions, soon to be merged with Clean Diesel Technologies of the US, experienced a rebound in sales in the first half of 2010, driven by its heavy duty diesel (HDD) systems division, which saw a 62.2% increase in sales.Total group revenue increased by 33% to $25.4m from $19.1m in the first half of last year. Income from continuing operations before tax was $1.32m, compared to a loss of $6.93m a year earlier.International shipping company Goldenport saw revenue and underlying earnings sink in the first half of 2010.Revenue fell to $42.5m from $53.4m the year before while underlying earnings before interest, tax, depreciation and amortisation dipped to $3.89m from $8.21m. The interim dividend has been boosted to 1.8p from 0.7p last year."Our company is in a strong financial condition given that as of 30 June 2010 our net debt was only $167.4m and our net debt to book capitalisation was 41%, a moderate figure for our industry," claimed Captain Paris Dragnis, founder and chief executive officer of Goldenport.