Small caps round-up: Minera IRL, Environmental Recycling, Byotrol

Shares in Latin America-focused gold miner Minera IRL fell on Monday after the group announced that revenues and profits in the second quarter slipped year-on-year on the back of a decline in production due to anticipated lower grades.

Shares in Latin America-focused gold miner Minera IRL fell on Monday after the group announced that revenues and profits in the second quarter slipped year-on-year on the back of a decline in production due to anticipated lower grades.

Gold sales of 6,889 ounces were ahead of management's expectations, but still short of the 8,688 ounces mined in the second quarter of 2011. While the average realised gold price improved from $1,513 an ounce to $1,611 an ounce, total revenue during the period fell from $13.2m to $11.1m. Meanwhile, gross profit fell from $6.5m to $4.1m. The company is continuing to develop its flagship project, Ollachea, in southern Peru; this is due for completion in the fourth quarter. Shares were down 1.67% at 44.25p.

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