Edenville Energy narrowed its first-half losses as it made progress on its Rukwa Coal project in south-west Tanzania.
The African coal explorer upgraded its mineral resource estimate of the project, which includes the Namwele, Mkomolo and Muze coal deposits, to 57.5m tonnes of coal measured and indicated with a calorific value of 17.42mj/kg.
Following a scoping study, the firm discovered the opportunity to develop the Rukwa Coal Project as the feed for a small scale coal-to-power operation.
The small power producer opportunity will allow the group to move towards production, with optimal coal-to-power scenario based on 10 megawatt power plant supplying the local market.
Loss on operations after tax for the first six months came to £300,560 down from the previous year's £319,123.
The company had net assets at the end of the period of £10.4m and cash reserves of £341,910.
During the period, the group entered into a £5m equity financing facility with Darwin Strategic, which will be used for future financing risk.
Edenville raised £106,895 under this facility from a subscription of 53,000,000 ordinary shares
at 0.2p per share in the first half. This week the company raised a further £390,000 from a subscription of 210,069,392 ordinary shares at 0.186 per share.
"The company is well funded to satisfy its immediate needs as it keeps a close eye on its operating costs. At the same time, we are maintaining a focused portfolio of licences in Tanzania and we aim to keep land holding costs as low as practically possible as we progress," said Chairman Sally Schofield.
"The conclusions of the Scoping Study published in September, demonstrates that there is a viable commercial opportunity for Edenville to become a power producer, utilising a small scale, coal-to-power business scenario."
Online market researcher BrainJuicer Group posted an 81% leap in profit before tax to £1.3m (H1 2012: £717,000) on revenues of £10.77m, up 4% on the prior year.
This was helped by a 2% decline in overhead costs to £7.2m (H1 2012: £7.3), as well as strong growth in both the UK and the US, where the company's largest operations are based.
Diluted earnings per share rose to 6.7p (H1 2012: 3.7p), while the interim dividend was increased 0.05p to 0.90p.
Cash at the period end totalled £5.46m, with no debt.
John Kearon, Founder and Chief Juicer of BrainJuicer, said: "This has been an encouraging all round first half performance. The combination of resumed revenue growth, against a strong comparative period, and lower costs has delivered a very strong profits increase. The board's decision to return £1.5m to shareholders via a special dividend underlines the strong cash flow characteristics of our business.
"Our biggest operations, the US and UK, have been the main drivers of growth this year and we have seen good underlying progress in client acquisition, Juice Generation and in Brazil. We remain focused on helping our clients build famous brands by applying Behavioural Science to market research and brand building. We feel well placed to achieve our growth ambitions.
"Whilst, as always, we have limited revenue visibility, we believe we are on track to meet market profit expectations for the full year."