IRG.L Share News (IRG)

Orosur Mining had a "good" first quarter as an increase in production to the upper end of expectations aided a swing to profit for the three months ended August 31.The company reported net income of $3.5m compared with a loss of $2.2m a year ago as output hit 12,937 ounces of gold and the average price received jumped to $1,216 from $912."Operations are well on track, exploration has been delivering both in Uruguay and Chile, and financing in the medium term can be covered with cash flow from operations and debt due to the strong gold price and the result of the cost savings efforts," said chief executive David Fowler.Production for the second quarter should be between 12-13,000 ounces and for 2011 as a whole is still expected to be 55,000 ounces of gold at a cash cost per ounce of about $825.Imperial Innovations, a technology commercialisation outfit, grew profits slightly to £5.5m in the year ended 30 July and netted £9.9m from the sale of investments.Shares in Hambledon Mining rose sharply after the Kazakhstan-focused gold miner reported improved production in the third quarter of 2010 as it deepened the main pit and mined ore from the north pit.It produced 6,577 ounces of recovered gold and 11,623 ounces of recovered silver, in July, August and September.Shares in Independent Resources dropped 22% following the plugging and abandonment of its Sidi Toui-4 well.The oil and gas exploration group has revealed that oil and gas results were insufficient to justify further examination. Independent expects to make a contribution of $185,000 to the overall cost of the programme with joint venture partners Petroasian Energy.Executive chairman Grayson Nash said that the well had "its share of operational difficulties and delays and this makes its outcome even more disappointing."Share prices in RWS nudged higher after the group predicted an 8.5% increase in revenue to £60m for the year ended 30 September. The intellectual property firm's positive results reflect significant growth - ahead of market expectations - mainly due to patent translations, accounting for 70% of revenues.Profits are expected to be in line with predictions, despite the impact of the weakness of the euro this year.