Small caps news round-up

Finland-focussed diamond exploration company Karelian Diamond Resources announced on Wednesday that the diamond mining permit for the recently-acquired Lahtojoki project has been formally transferred from A&G Mining Oy, along with all of the claim reports and additional technical material. The AIM-traded company said transfer approval from the Finnish Safety and Chemical Agency was also received.

Clinical stage biotechnology company Tiziana Life Sciences was celebrating on Wednesday, after its partnership with researchers at Cardiff University collected a fresh award. The AIM-traded company said the partnership, which has led to the development of a potential new drug for metastatic breast cancer, won the Innovation in Healthcare category at the university’s Innovation and Impact Awards 2016.

West African gold producer Aureus Mining announced a fresh deferral to its debt repayments on Wednesday, allowing it more time to get its gold processing plant running. The AIM and TSX-traded firm said it has received approval from Nedbank, Rand Merchant Bank and the Export Credit Insurance Corporation of South Africa to further defer its first debt repayment to 30 June.

Shares in Slovenia-focused Ascent Resources dived about 30% after it raised £500,000 in a discounted placing of 83.33m shares, giving it sufficient working capital until the end of third-quarter 2016.

Pennant International Group was up more than 40% as it confirmed new Middle East contract wins totalling more than £13m and running through to end-2017. The supplier of integrated logistic support solutions, products and services said subsidiary Pennant Training Systems has signed a major new contract and has received confirmation of the award of another and has been instructed to commence work.

Nostra Terra Oil & Gas was still in limbo over its proposed acquisition of an interest in New Mexico producing assets on Wednesday, announcing it was continuing to seek debt financing via a secured bond to complete the deal. The AIM-traded company had revealed its plans to take on the working interest in Alamo Resources II’s Permian Basin operations on 5 April.