Small cap news round-up

Asset backed loans investor Project Finance Investments committed to a two-year loan to finance the construction of student accommodation in London.

A £13.5m loan was agreed to finance construction for private student residential accommodation for Queen May, University of London, which is expected be completed by the 2018/19 academic year.

Medical insurance and healthcare provider Georgia Healthcare launched a new ambulatory service cluster on Wednesday in Tbilisi.

The cluster, located in the Didube neighbourhood covering a population of about 140,000, will provide a wide range of outpatient services, including general practitioner and specialist physician consultations, imaging and functional diagnostics, as well as clinical, biochemical and serological laboratory tests.

Bioquell has booked a first-half pre-tax profit of £378,000, from a profit of £69,000. Revenue slipped to £12.1m, from £12.5m. It cited cost reduction for the improved profitability as it implemented several management changes.

It said, following a strategic review, that shareholders' interests would best be served by continuing to build a world class bio-decontamination business and focusing on further improving its financial performance.

Exillon Energy achieved record production of 14,446 barrels a day in July with average output running at 13,883b/d, the company said in a statement.

The Russia-focused oil explorer had two main assets, located in Timan-Pechora and West Siberia, which contributed 3,179b/d 10,704b/d, respectively.

Mineral project investor Metal Tiger has increased its shareholding in gold and iron ore explorer Red Rock Resources in a bid to capitalise on the recovering resource sector.

Metal Tiger agreed to pay £100,000 to subscribe for 25m of the total 75m new ordinary shares issued by AIM peer Red Rock at 0.4p per new ordinary share, with each share carrying an additional warrant at 0.8p and with a 24-month longevity from admission of Red Rock’s placing shares on 30 August.

While Xaar confirmed sales and profits were down in the first half of the year, the injket printhead specialist said its investment in new technology over the last few years should soon start to bear fruit.

Revenue in the first half of the year of £44.5m was down 7% on the same period last year, as the board's had flagged last month, with sales by product more consistent with the second half of 2015 after allowing for the expected impact of Chinese New Year.

Arian Silver said the exclusivity period for it to evaluate a gold and silver tailings project held by Tierra Nuevo Mining Ltd has been extended by 60 days to 28 October.

There was no cost incurred in securing the extension, which followed a 120-day period.

Pathfinder Minerals said the UK High Court has issued an order for the sale of a total 19.8m shares held by JV Consultores Internacionais Limitada (JVC) and Diogo Cavaco.

The ordered sale was a further important step in the company's enforcement of certain orders for payment of costs in England.

Edenville Energy has appointed geologist Jeffrey Malaihollo as non-executive chairman, effective from 1 September.

Edenville is developing a coal-to-power project in south western Tanzania.

Shares in oil and gas investor Cluff Natural Resources soared more than 15% on Wednesday after the energy company said it identified prospective resources on its North Sea licence.

The AIM listed company said it identified prospects on its P2248 licence in the southern North Sea in the Carboniferous and Triassic, which could increase prospective resources estimates to about 3trn cubic feet of natural gas.