Small Caps
IGas proposes complex capital restructure
UK onshore oil and gas explorer and producer IGas Energy announced the final terms of a proposed capital restructuring that it believed would will result in a new capital structure which would be sustainable in the current oil price environment.
Major shareholder of Uranium Resources extends fully-drawn loans
Uranium Resources announced on Friday that its major shareholder Estes had agreed to extend the terms of its loan facilities dated 15 March 2013, 18 March 2014 and 19 February 2015 to 31 May 2017.
Bushveld comes one step closer to acquiring Strategic Minerals interest
Southern Africa-focussed diversified mineral development company Bushveld Minerals updated the market on the conditional acquisition by Bushveld Vametco of a 78. 8% interest in Strategic Minerals Corporation from Evraz Group on Friday.
Small cap news round-up
Shares rose in Stellar Diamonds on Friday after the miner announced that a church minister had discovered a 709 carat diamond in Sierra Leone, which it claims is the 13th largest ever found.
Goldplat agrees $2m loan facility
AIM-listed African gold producer Goldplat has agreed to a $2m uncommitted, on-demand, revolving pre-export loan facility with Scipion Active Trading Fund to fund the expansion of a processing plant.
Medilink disposes of remainder of China subsidiary
Electronic health card network service provider Medilink-Global UK announced on Friday that its wholly-owned subsidiary Medilink-Global Asia had entered into an agreement with Selfdoctor Beijing Technology Co on 16 March, for the sale of the group's remaining 49% interest in its associate entity, Medilink Beijing TPA Services Co for a total consideration of $0. 3m in cash.
Ilika expecting to start year with 'record' revenue commitments
Materials innovation and solid-state battery technology company Ilika updated the market on its trading on Friday, saying that since its last trading update in November, it had announced four “significant” commercial deals, which were resulting in a strong ramp-up of revenue relative to 2015/16 and which would continue to support revenue growth into 2017/18.
MP Evans Group completes sale of stake in Indonesian oil plantation
AIM-listed investor MP Evans Group has completed the sale of its 36. 84% stake in the PT Agro Muko palm oil plantation in Indonesia to Belgian Sipef Group, an agro-industrial firm, for $100m.
Adgorithms wins 'significant' wellness-focused customer
Adgorithms, the creator of artificial intelligence marketing platform ‘Albert’, announced a significant new customer win on Friday.
Frontier IP raises £3m in placing to accelerate growth
Frontier IP has raised gross proceeds of £3m through the placing of 7. 5m ordinary shares at 40p each.
Rose Petroleum recovers some value-added tax owed to it in Mexico
Shares in Rose Petroleum are up almost 4% after after recovering some of the substantial IVA (value added tax) owed to it by Mexican tax authorities.
Cerillion wins €2.4m telecoms contract
Billing, charging and customer relationship management software solutions provider Cerillion announced that it won a major new contract with an initial value of €2. 4m with a wholesale telecoms operator in Europe.
CyanConnode to raise £3.2m to invest in radio mesh network
CyanConnode, a maker of narrowband radio mesh networks, is planning to raise about £3. 2m in order to cover costs for growth and the integration of its technology with its partners.
Ortac Resources says Sturec project re-issued underground mining licence
Shares in Ortac Resources are up almost a third, albeit off a low base, after it confirmed subsidiary ORTAC s. r. o has been re-issued with an underground mining permit for the Sturec Gold Project in Slovakia.
Sierra Leone pastor discovers 13th largest diamond ever for Stellar Diamonds
Shares rose in Stellar Diamonds on Friday after the miner announced that a church minister had discovered a 709 carat diamond in Sierra Leone, which it claims is the 13th largest ever found.
Equatorial Palm Oil's tax and duty free allowance extended by five years
AIM-listed Equatorial Palm Oil’s tax and duty free allowance has been extended for a further five years by the government of Liberia following slower production development at its sites in the country.
Horizonte Minerals widens FY loss, achieves Araguaia milestones
Shares in Horizonte Minerals are up almost 2% after it booked a marginally wider full-year pre-tax loss and confirmed achieving several milestones at the Araguaia Nickel Project in Brazil.
Global Ports swings to FY profit, names incoming CEO
Shares in AIM-listed Global Ports rose more than 1% on appointing Mikhail Loganov as CEO and swinging to a full-year pre-tax profit of $109. 9m amid a sluggish Russian container market.
Range Resources improves results as funding source closes
Range Resources released its unaudited half-yearly report for the six months ending 31 December on Friday, with revenues increasing by 38% to $3. 8m, which the board said was mainly due to a higher realised oil price of $42 per barrel.
Private & Commercial Finance Group aiming to raise £10m to meet regulatory requirement
Specialist bank Private & Commercial Finance Group (PCF) is aiming to raise £10m in order to maintain the level of capital required by regulators.