Mc Mining Share News (MCM)

One of Britain's biggest coal producers ATH Resources traded in line with expectations during the first quarter, although geological issues at its Glenmuckloch site continue to cause concern.The firm is also worried about the recent dramatic increase in the price of gas oil which, if it continues rising, will put operating margins under pressure for the rest of the year. Dry bulk vessel fleet operator Hellenic Carriers today confirmed a subsidiary has entered into a time charter agreement with an unaffiliated third party for 4-7 months at a daily hire rate fixed at US$9,250 gross for the first 40 days and US$14,200 thereafter. "Hellenic continues to implement its balanced chartering strategy aiming to secure visible and stable cash flows," boss Fotini Karamanlis said. "We consider that the short to medium term volatility will remain a prevalent factor in the dry bulk shipping market." Oakley Capital Investments expects net asset value at the end of 2010 to be between £1.64 and £1.67 a share, up 16% year on year and 18p higher than six months ago. "The Fund's portfolio companies continue to perform well with an improvement in underlying profitability in the remaining investments driving an increase in net asset value per share of at least 14p in the year," director Peter Dubens saidBiomanufacturing group Angel Biotechnology generated £5.3m of new contracts in 2010 and says results for the year ended 31 December will be in line with market expectations, leading to its first full-year profit.Additionally, the group said it has already signed 81% of forecasted revenues for 2011. "A number of substantial additional contracts are currently at various stages of negotiation."Brazilian mineral explorer Horizonte Minerals has bought 100% of two nickel laterite projects in the Carajás Mineral District in northern Brazil from Canadian group Lara Exploration for 8.5m Horizonte shares.The acquisition of the Vila Oito and Floresta projects will form part of the ongoing resource drilling programme at its neighbouring flagship Araguaia nickel project, and "adds additional prospective targets at Araguaia which we are fast-tracking to define a maiden resource in the first quarter of this year," said CEO Jeremy Martin.Marketing services group Motivcom has performed slightly above expectations in the second half of 2010 and maintained a strong cash position. "The group has experienced a positive start to the year and the Board looks forward to continuing progress in 2011," the statement read.Australian and South East Asia regional airline Skywest Airlines reports that the number of passengers carried (excluding charter passengers) in December grew by 3.6% to 29,000 from the previous year, while the load factor decreased by 0.14% to 51.97%. Its fleet has grown by one plane to 16, and chairman Jeff Chatfield says that with the new alliance with Virgin Blue to operate an expanded fleet of 18 aircraft on extended networks throughout Australia, "we will see improved operating statistics as we continue to carve out a dominant presence in the Australian airline market."Performing arts school operator Stagecoach Theatre Arts saw a substantial decline in half year pre-tax profit from £267,000 in 2009 to £72,000, following an increase in marketing and advertising. School fees were relatively flat, while revenue for the six months ended 30 November fell slightly to £2.92m from £3.03m.Students numbers were down by 100 to 39,221 in the period as the UK experienced a decline, although German and US markets expanded.Real-time 3D and 2D x-ray imaging specialist Image Scan has won a £0.75m contract for the supply of an x-ray inspection system for use at a major nuclear facility in the UK. Around half of the contract amount should be earned this financial year, depending on the achievement of certain milestones.