Small caps news round-up
Synectics added a veteran of the technology and communications sectors to its board on Tuesday, announcing the appointment of Michael Butler as a non-executive director. The AIM-traded surveillance technology firm said Butler had more than 30 years of commercial experience in well-known high technology businesses.
ReNeuron's office, laboratory and manufacturing staff were preparing for a space upgrade this week, with the firm announcing it was moving from Guildford to Pencoed in South Wales. The AIM-traded stem cell therapy development company said the new location was purpose-built, and would contain its headquarters, research laboratories and manufacturing facilities.
Ceres Power's proprietary steel cell technology received a boost on Tuesday, with the firm completing a scale-up project enabling high volume production of its cells. The AIM-traded company said the move was a key step towards mass-market commercialisation of its fuel cell technology, in response to growing market opportunities.
Keras Resources added to its gold resource on Tuesday, having entered into a profit share agreement with Kalgoorlie Mining Associates to mine the Wycheproof Gold Deposit in Western Australia. The AIM-traded Australian gold development company described Wycheproof as a high-grade, shallow deposit located on an existing mining licence.
Ariana Resources had a bit more cash in its back pocket on Tuesday, having completed the sale of a package of tenements in the Pilbara region of Western Australia to Dakota Minerals, through its 86%-owned Australian subsidiary Asgard Metals. The AIM-traded company had initially announced the planned transaction on 18 December, when it described the tenements as containing part of an extensive lithium-tantalum bearing pegmatitic dyke swarm.
AIM-listed Coms, a provider of infrastructure and smart building solutions, said its core division Redstone has won a “strategically-significant” contract to design and install an in-building cellular system serving nearly 1m square feet of office space in the city of London. The project - for UK headquarters of one of Redstone's existing clients - is worth around £750,000 and will see the business design and install technology from wireless technology provider CommScope.
Augean's expansion into the southern North Sea was solidified on Tuesday, with the purchase of a new site in Great Yarmouth for its Augean North Sea Services (ANSS) arm. The AIM-traded specialist waste management business noted in a recent trading update that it had entered into a contract in January to provide production waste management and onshore industrial services to a major oil and gas operator.
A Tanzanian drilling programme quite literally struck gold on Tuesday, with Shanta Gold reporting positive results from its New Luika Gold Mine project, located in the country's Lupa goldfield. The AIM-traded East Africa focused gold developer and producer said a reverse circulation drilling programme had been completed at the Askari mineralised target, located around 14 kilometres north west of the New Luika processing facility.
A Tanzanian drilling programme quite literally struck gold on Tuesday, with Shanta Gold reporting positive results from its New Luika Gold Mine project, located in the country's Lupa goldfield. The AIM-traded East Africa focused gold developer and producer said a reverse circulation drilling programme had been completed at the Askari mineralised target, located around 14 kilometres north west of the New Luika processing facility.
DotDigital's strategy of focusing on fast-growing SMEs was paying off on Tuesday, with the company painting an impressive picture in its interim report. Profit before tax was up 30% to £3.3m at the AIM-traded software-as-a-service (saas) provider, on revenue from operations that grew 29% in the six months to 31 December, to £12.9m, from £10m in the previous interim period.
Pan African Resources reported a quality start to the year on Tuesday, with production and earnings rising substantially in the six months to 31 December. The AIM-traded company said group earnings increased by 129.4% in the period to ZAR 227.6m. In sterling terms, Pan African reported earnings increasing 98.2% to £10.9m.
AIM-listed Regency Mines has completed the acquisition of a 5% interest in the Horse Hill development near Gatwick Airport from Angus Energy for £400,000. The deal, which was announced on Monday, will see Regency pay part of the consideration through the issue of 54.23m shares to Angus at 0.325p each. This will give Angus a 29.9% stake in the company.