Small caps news round-up

Iron and polymetal explorer Beowulf Mining has raised £1m in equity in order to develop projects in Sweden.The £1m that will be raised will be added to the £140,000 already gained from investors in the UK and the £860,000 from investors in Sweden.

LGO Energy updated the market on its corporate plans for the first quarter of 2017 on Wednesday, saying its recent loan refinancing and equity placement positioned the company for an early return to drilling in the Goudron Field. The AIM-traded firm said that would happen with the imminent signing of an initial two well contract, including options to extend for further wells, in order to drill production wells to the ubiquitous Mayaro Sandstone oil pay interval.

As well as signing a commercialisation deal for its environmentally friendly pesticide with a US chemical giant, Eden Research warned on Wednesday that full year earnings would be lower than expected. AIM-listed Eden is transformed its business model from technology licensing to product sales, which it said had resulted in lower upfront payments, with the effect exacerbated by a delay in receiving regulatory approval in certain territories.

As well as signing a commercialisation deal for its environmentally friendly pesticide with a US chemical giant, Eden Research warned on Wednesday that full year earnings would be lower than expected. AIM-listed Eden is transformed its business model from technology licensing to product sales, which it said had resulted in lower upfront payments, with the effect exacerbated by a delay in receiving regulatory approval in certain territories.

Cambria Africa updated the market on its dispute with Consilium on Wednesday, after it advised on 18 July that it had filed $1.84m in counterclaims against Consilium in the English High Court. The AIM-traded company said that on 20 December, the High Court ordered Cambria to post security for costs of £381,342.38 and ordered it to pay costs of £30,000 to Consilium.

Nu-Oil and Gas has reduced its full-year pre-tax loss and flagged the need for an injection of additional capital to execute its business model. "However," the AIM-listed company said, "further shareholder dilution cannot be ruled out."

Leak detection and remediation solutions provider Water Intelligence provided an update on trading through the end of the third quarter on Wednesday. The AIM-traded company said its financial results continued as strongly as the board set forth in its interim results for the first half of 2016.