Small caps news round-up

Palm oil development and production company Equatorial Palm Oil announced on Thursday that its Liberian operation has signed a memorandum of understanding with designated community leaders over four key areas on its Palm Bay estate, to allow development to proceed. The AIM-traded firm said the MOU was signed between its EPO Liberia division, community elders, leaders and residents of Tarlo Town, Blayah Town, Nuhn Town and Qlakpojelay.

Churchill Mining was still in the dark as to a the recent disengagement by Indonesia in ongoing arbitration on Thursday, though it was pleased the International Centre for the Settlement of Investment Disputes had received Indonesia’s share of the fifth advance payment - albeit significantly late.The AIM-traded company had initially announced the default by Indonesia on 13 April, and on 20 April it revealed it had not received confirmation from Indonesia that it was participating in arbitration.

Asa Resource Group announced new developments in its partnership with Zhejiang Hailiang Company on Thursday, which was originally formed in 2013. The AIM-traded company said the initial agreement covered its 4,721 square kilometres of land in the Katanga copper belt region of the Democratic Republic of the Congo, or 27 of the 33 licence areas in which it has a 100% beneficial holding.

Peruvian cocoa farming company United Cacao was forced to respond to accusations of illegal deforestation on Thursday, working to assure investors it operates in compliance with local and environmental laws. The AIM-traded firm was in the firing line overnight, when a delegation of leaders from indigenous and forest communities in Peru joined with non-government organisations in calls for it to be suspended from trading.

Hotel Chocolat achieved a £167m valuation in its initial public offering on the London Stock Exchange. The British chocolate supplier raised £55.5m after placing 8,108,108 new and 29,398,471 existing ordinary shares of 0.1p each at a value of 148p per share.