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Small cap highlights: Amur Minerals, MYCELX, Mytrah Energy, CloudTag, Frontier Developments, Entertainment One

Mine developer Amur Minerals was among Friday’s top small cap risers thanks to a possible funding deal with Russia.
Up 28% on Friday Amur shares traded at 8.5p each.

Mine developer Amur Minerals (LON:AMC) was among Friday’s top small cap risers thanks to a possible funding deal with Russia to support the proposed Kun Manie mine.

Amur is already talking to strategic partners in Russia, China and India. And those efforts remain the “cornerstone” of its strategy to develop a mine.

But, a new agreement with a development agency for Russia’s Far East and Baikal Region could now open up federal funding for key elements of the project.

Amur was given a long awaited mining permit by the Russian authorities last May, and it has described today’s milestone as a ‘launching point’ for detailed negotiations.

Up 28% this morning Amur shares traded at 8.5p each.

MYCELX (LON:MYR), an AIM quoted group that cleans water from oil operations, shot up 25% after unveiling a new $5mln deal with an existing customer in Middle East.

Indian wind power group Mytrah Energy (LON:MYT) enjoyed a second day of gains, following Thursday’s breakthrough refinancing.  It was up 12% this morning, marking a rise of about 21% since Wednesday’s close.

A new $380mln debt package from a group of three banks was the largest refinancing ever seen in the Indian renewables sector, the company highlighted, and it is expected to lower borrowing costs and improve Myrah’s credit rating.

Wearable tech group CloudTag (LON:CTAG) saw its shares rise over 25% though the first few days of March, after it issued new shares at a premium price, to raise £215,000 on Tuesday, and chief executive Amit Ben-Haim said he expected to see more orders for its Track and beatSmart products this year.

Independent video games developer Frontier Developments (LON:FDEV) dropped about 15% after the next instalment of its flagship game, Elite Dangerous Horizons, was delayed and revenue expectations were downgraded.

Entertainment One (LON:ETO), meanwhile, lost 14% following lower nine-monthly revenues as the firm behind Peppa Pig revealed its weaker film distribution business offset a positive performance for the TV division.


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