Small caps round-up: Kedco, Condor, Silverdell...

Waste energy group Kedco has generated £0.403m after placing 31m new ordinary shares at 1.3p each. The proceeds of the placing will be used for working capital purposes and for continuing investment in the company's portfolio of biomass electricity and heat generation projects. Shares fell 18.75% to 1.62p.

Gold exploration firm Condor has discovered a wide high grade gold intercept on the India-California structure on La India Vein Set. The India Vein and California Vein are only 25m apart at this intercept, indictating the potential for open pit mining. The most significant results came from the intersection of a third vein, the Natalia Vein, which was intersected in six of the nine drill holes with a best intercept of 8m drill depth at 4.22g per tonne gold from 42m. Shares gained 3.85% to 6.76p.

Silverdell, an environmental services group, has been awarded framework contracts for consultancy in the Utilities and Social Housing markets, with a combined approximate value of £1.4m, as well as an asbestos remediation contract worth around £2.25m. The firm has also been made a preferred supplier to a large Housing Association in Yorkshire, to provide hazardous waste management consultancy services. The contract is worth around £330,000 over two years. Shares gained 6.74% to 11.88p.

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Mining firm VANE has drilled a copper-molybdenum porphyry system at its McGhee Peak project, which it has discovered two mineralised targets located about one mile apart within a clearly identified porphyry system, containing copper, molybdenum and zinc. Chief Executive Officer David Newton said: "These are encouraging results. Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects." Share were up 16.28% to 1.25p.

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