Leed Resources Share News (LDP)

Mount Engineering said it is satisfied with its progress in the first six months of the year and expects results to be in line with the prior year first half. "Whilst current market visibility remains unpredictable, effective margin management and overhead cost control is maintaining profitability and cash flow and trading remains in line with full year market expectations," said the group.Investing company Oxeco said its efforts to secure a commercial exit from the Oxray business have not been successful. "The Directors have therefore concluded that the most prudent course of action in the current economic climate is to stop any further investment in Oxray with an emphasis on preserving cash," it said.The group said Oxray will now become a dormant subsidiary whilst retaining control of the underlying intellectual property (IP). In addition, the company will transfer an equity stake of 15% in this subsidiary to Oxray's former Commercial Manager, Richard Cooper, as an incentive to help potentially realize some future value from the IP.Specialist engineering and construction services group Renew Holdings has announced £20m of new orders for its Specialist Engineering business, as well as an extension of its principle nuclear framework agreement.Petrochemical firm Haike Chemical said it has more favourable trading conditions in the first half of 2009 after a volatile 2008.Shares in Leed Petroleum fell back after the oil and gas explorer and producer estimated net attributable production averaged 2,570 barrels of oil equivalent, a fall of 14% from the previous quarter.Drug developer Phytopharm has signed an agreement with the CHDI Foundation in the USA to evaluate the efficacy of Phytopharm's orally active, neurotrophic factor inducer, Cogane, in the treatment of Huntington's disease.Indonesia focused miner Churchill Mining said that JORC category upgrades at its East Kutai Coal Project (EKCP) have been delayed. "Churchill remains confident that the JORC-compliant resource number will support a mining operation producing 20 million tonnes per annum for a minimum of 20 years," the company's managing director Paul Mazak said.