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Small cap round-up: Highams, Creat Resources...

Thu, 04th Nov 2010 13:57
Recruiter Highams Systems is taking on staff of its own to meet demand after revenues rose 17% to £4.41m (2009: £3.77m) in the six months to September.Gross profit climbed 35% to £770,000 (2009: £572,000) with profit before tax up 208% to £123,000. "We continue to see an improvement in demand for our services and we are staying close to our niche markets. We therefore look forward to the second half of our year, which we believe, on current forecasts, will show further improvements in turnover and profit," chairman Ken Ford said.News that Galaxy Resources is to list on the Hong Kong stock exchange has sparked a ferocious reaction in the share price of mining company Creat Resources which has a 20% share holding in the lithium producer.Galaxy managing director Iggy Tan said the listing 'will afford Galaxy greater access to capital sources, significantly improve liquidity and provide greater alignment between our investor and our customer base.'Latin American mining company Mariana Resources has unveiled positive geophysical exploration results from its 100% owned Las Calandrias gold-silver project, located in the prospective Deseado Massif gold district in the Santa Cruz province, southern Argentina.The company said the results strongly support numerous high priority drill targets identified in untested rhyolite domes at Las Calandrias. As a result the company is raising the drilling campaign to 15,000 metres to accelerate exploration of the low sulphidation epithermal gold system.

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