Small cap news round-up

Digital Look Sharecast | 21 Apr, 2017 16:07 - Updated: 17:07 | | |

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Public relations firm SEC has completed the acquisition of a 60% stake in Polish communications company Martis Consulting for €1.1m.

The acquisition was conditional on the spin-off of Martis’ property, securities and bank loans.

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Shares in Strategic Minerals were higher after the company said it had entered a cash generative phase and was considering new projects.

Key to the company's outlook, sales of magnetite from its New Mexico, US Cobre tailings operations more than tripled during the first three months of 2017 to hit 14,264 tonnes for $834,000 of proceeds, versus a tally of -$227 for the same period of the previous year.

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Cell-based therapeutics developer ReNeuron Group updated the market on its cell therapy development programmes targeting degenerative diseases of the retina on Friday, reporting that it had successfully developed a cryopreserved formulation of its human retinal progenitor cell (hRPC) therapeutic candidate.

The AIM-traded firm said the ability to cryopreserve its retinal cell therapy candidate at drug product level represented a “major step forward” for its retinal disease programme and mirrored the earlier breakthrough it achieved with the cryopreservation of its CTX cell therapy candidate.

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Gaming Realms’ Slingo Original portfolio of games has won a license and will be launched in the New Jersey in the US.

The AIM-listed gaming company has already received a transactional waiver from the New Jersey Division of Gaming Enforcement in 2016, and following the launch of the Slingo games in the UK, Gaming Realms has signed agreements with several operators to bring its game library to the regulated New Jersey market through its own remote game server.

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Shares in Vernalis tumbled on Friday despite the drug developer announcing it had received a $2m milestone under one of its existing research collaborations.

The collaboration was to discover novel small molecules against an undisclosed target using Vernalis' fragment and structure-based drug discovery platform.

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Copper and silver miner Metal Tiger has raised £4.39m, from a private placement and a further £460,000 through a placing and subscription of shares to fund development at its Botswana site.

A placing of 161.66m new shares at a price of 3p each raised gross proceeds of £4.85m and the issue of 161.66m warrants to subscribe for 1.66m new shares at a price of 6p per warrant.

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Clean water technology company HaloSource has made a raft of changes to its board and management team, including a new chief executive and chairman.

The AIM-listed company has appointed James Thompson as chief executive with immediate effect to replace Martin Coles who has resigned as president and chief executive, but will remain part of the company as strategic adviser to the board during his leave of absence.

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AIM-listed investment management firm Rasmala is to buy a further stake in its subsidiary Rasmala Holdings Limited (RHL) from minority shareholders for $6m.

This will result in Rasmala's total shareholding in RHL increasing from about 76.3% to 90% and will be paid with 28.94m shares worth about $6m.

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AIM-listed merging markets property developer Plaza Centers has opened the Belgrade Plaza, its 34th shopping centre and its second in Serbia, on Thursday.

The shopping centre is 97% let and is expected to be fully leased in the coming months.

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Technology commercialisation company Touchstone Innovations, which was spun-out from the Imperial College London, has invested £2.9m in the £25m placing of portfolio company Abzena.

Innovations first invested in Abzena, formerly Polytherics, a technology provider to the biopharmaceutical sector, in 2007 having led a £2.3m investment round into the company.

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Productivity software developer BOS Global Holdings updated the market on Friday on the conditional agreement to acquire a 40% interest in Call Design, which was announced on 20 March.

The AIM-traded company advised that it had satisfied one of the major conditions precedent, having completed due diligence to the satisfaction of the board.

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Oilex announced the award of two key contracts to Schlumberger and Baker Hughes as part of its 2017 work programme at the Cambay PSC on Friday.

The AIM-traded firm said Schlumberger and Baker Hughes would advise on the optimal well and stimulation design required to achieve potential commercial flow rates.

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SolGold reported drilling at its Cascabel site in Ecuador had extended the known length of copper-gold mineralised by 20%.

Hole 21 at the Alpala section of its 85%-owned Cascabel project extended the known strike length of the deposit by some 150m to 900m, with assay results from the lower portion of the hole between 650m and the end of the hole at 1619.2m

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Ultra high temperature gasification waste to energy systems company PowerHouse Energy Group announced on Friday that the first phase of the re-commissioning of the its G3-UHt unit had been completed, with the successful production of gas from the system.

The AIM-traded firm said the G3-UHt unit operated at a temperature of over 1000 degrees Celsius, demonstrating its capacity to gasify any historically difficult waste material and generate synthesis gas.

More news

23 Jun Capital Economics sees limited upside for FTSE 100 in 2017 (and next)

The UK economy's performance will continue to exceed forecasts but multiple headwinds will just about brake any further gains in the FTSE 100 in 2017, analysts at one of the City's top research shops said.

23 Jun US oil rig count keeps climbing, Baker Hughes says

The number of oil rigs in operation in the US continued to climb last week, increasing by 11 to 758, according to the results of the most widely-followed survey tracking them.

23 Jun FX round-up: Sterling gains on dollar thanks to UK policy hawks coming to fore

Sterling managed Friday gains on the US dollar thanks to UK monetary policy hawks coming to the fore in recent days, but was otherwise down against a raft of commodity currencies.

23 Jun Europe close: Stocks end off lows as oil futures perk up

Stocks came off their worst levels of the day as crude oil futures perked up and trading on Wall Street got off to a positive start.

23 Jun London close: FTSE labours through Friday as sterling gains on underwhelming dollar

Stocks in London laboured through Friday as sterling made gains against an underwhelming US dollar a day after PM Theresa May met with European leaders in Brussels.

23 Jun US open: Stocks edge higher at the end of the week

Gains for steel and biotech shares saw Wall Street edge higher amid better than expected economic data and some dovish Fedspeak.

23 Jun Price pressures grow in US in June, PMIs show

Private sector firms in the US continued to record a solid rate of expansion amid signs that economic growth might pick up again, the results of a widely-followed survey showed.

23 Jun US new home sales beat forecasts in May, prices jump

Activity in America's residential real estate market continued to hum along at a solid pace last month, the latest official revealed, amid sharp price increases.

23 Jun Avingtrans gets extension on possible Hayward Tyler bid

Hayward Tyler updated the market on its discussions with Avingtrans on Friday, regarding the possible offer by Avingtrans for the company as announced on 31 March.

23 Jun BMR raises £0.35m as Kabwe plant construction progresses

BMR Group announced on Friday that Peterhouse Corporate Finance had raised £0.35m - before expenses - by way of a placing of 9,333,333 new ordinary shares of 1p each in the capital of the company, at 3.75p per share.