On a busy day in the world of small caps, Tethys Petroleum (TSE:TPL, LON:TPL) caught the eye after it opened exclusive talks with Nostrum over a premium priced takeover.
The Kazakhstan oil and gas junior had previously snubbed an approach from Nostrum and instead favoured a proposed C$60mln recapitalisation which would have given Kazakh group AGR Energy a 36% stake.
In other news, Amur Minerals (LON:AMC) signed a collaborative agreement with the Russian government's Far East and Baikal Region Development Fund to help attract investment from within Russia, India, and China for its Kun-Manie nickel development.
Staying in Russia, gold producer Petropavlovsk (LON:POG) noted its stake in Hong-Kong listed IRC had reduced to 35.83% from 45.39% after IRC raised around US$50mln from an open offer announced on August 5.
In mining-related news, Metal Tiger (LON:MTR) has spent €250,000 of the €500,000 that it’s required to spend this year as part of its earn-in deal on its Logrosán gold and tungsten joint venture in the Spanish province of Extremadura.
Speaking of tungsten, W Resources (LON:WRES) described the latest drilling campaign Régua in Northern Portugal as exceptional and exceeding all expectations.
As a result, W Resources is now considering a shallow open pit mine design in a first phase with the second phase to be a larger scale high grade underground operation.
Elsewhere, Savannah Resources (LON:SAV) says it's on the hunt for a new non-exec director as it moves to its next phase of development and Charlie Cannon-Brookes retires from the board.
There were more changes in the boardrooms of small cap firms today. Timber and biomass supply specialist Active Energy (LON:AEG) named legal and corporate finance expert Michael Rowan as a new non-exec director.
Meanwhile, security group Westminster (LON: WSG) revealed director Matthew Wood will stand down at the end of this month (August) due to "increasing time pressures".
Caledonia Mining Corporation (TSE:CAL, LON:CMCL) said experienced mining project manager David Henderson has been appointed as director following the resignation of Richard Patricio while Mark Learmonth, who became finance chief last year, has been appointed to the group's board.
In tech news, Rightster Group (LON:RSTR) has announced a new partnership with one of the most influential Facebook video creators, Jack Jones TV.
Jack Jones’s Facebook creations have more than 2.4mln “likes” to date, while his highest ranking video has clocked up more than 13mln views so far.
Meanwhile, electronic and physical security specialist Newmark Security (LON:NWT) revealed it performed strongly in the 12 months just gone – but cautioned its profits in the current year will be lower as it invests in new products and markets.
In other news, African airline Fastjet (LON:FJET) carried the most passengers ever in July as flights started to Malawi and additional flights began to Mwanza in Tanzania.
The Africa-focused airline carried 71,763 passengers in the month, over 3,600 more than the previous record in April and 36% up on this time a year ago.
Elsewhere, high flying investment company Tern (LON:TERN) has raised £720,000 through a placing of 6mln shares at 12p a pop.
In pharma and biotech news, a team from AIM-listed Allergy Therapeutics (LON:AGY) has published research that looks at the “molecular fingerprint” of allergies.
Elsewhere, AIM listed group First Property (LON:FPO) is urging the government to extend a scheme that allows companies such as itself to turn unused office space into town and city centre flats.
Finally, Liberia-focused Equatorial Palm Oil (LON:PAL) has struck a long-awaited deal with the country's port authority, paving the way for the construction of a key export facility.