There were some gems in the small cap universe today, not least at coloured gemstone specialist Gemfields (LON:GEM) which said the situation in China poses a threat to the luxury goods generally, though less directly to its business.
Harebottle was talking after another steady production quarter from its mines at Kagem and Montepuez.
Emerald and beryl mine Kagem, in Zambia, produced 8.1mln carats (2014: 6.2mln) in the three months to June.
Grades were lower at 222 carats per tonne (271), though more efficient mining meant units costs per carat fell.
In other mining news, a second phase study for the coal mine at its Mbeya thermal power project in Tanzania has improved on the original concept in key areas, Kibo Mining (LON:KIBO) said.
Louis Coetzee, chief executive, said the results for the coal mine element of the power project had surpassed all expectations.
Meanwhile, Shanta Gold (LON:SHG) is eyeing an increase in the resource around its New Luika gold mine in Tanzania after consistent grades were returned from close by.
The Elizabeth Hill prospect lies within the existing mining licence at New Luika, approximately four kilometres east of the processing plant.
In oil news, Rare Earth Mineral’s (LON:REM) partner at Yangibana in Australia has reported more intersections of metal from drilling in the north of deposit.
David Lenigas, REM’s chairman, said: "The Yangibana REE project in Australia continues to improve in scale and the results from Yangibana North will help further define the already 3.46mln tonnes at 1.73% TREO of indicated and inferred resource at the site."
In other Lenigas related news, LGO Energy (LON:LGO), formerly Leni Gas & Oil, completed the penultimate well of the current drill programme at the Goudron field in Trinidad.
The well, GY-677, was drilled to a depth of 3,135 feet and it encountered both the Goudron sands and the targeted C-Sand which had 130 feet of net pay in the well.
Elsewhere, DekelOil (LON:DKL) revealed that all materials and equipment for its kernel crushing plant at its Ayenouan palm oil project are now on site.
The Côte d'Ivoire-focused company said construction of the kernel crushing plant (KCP) is advancing well, and production of palm kernel oil (PKO) and animal feed is expected to commence, as previously indicated, in the fourth quarter of this year.
PetroNeft (LON:PTR) told investors gross production at its operations in Tomsk Oblast, Russia, amounted to 2,600 barrels of oil per day, which it said was a 41% improvement this year.
“Our operational progress is gathering momentum and this is evident in our sustained drilling and production growth,” said chief executive Dennis Francis.
Away from oil, ServicePower (LON:SVR) told investors that it has won new contract with three major North American companies.
"We are delighted to announce these latest contracts which highlight our continual momentum and position us as one of the leading service network management firms globally,” said chief executive Marne Martin.
The new customers were described as ‘recognised brands’ though only one, JVCKENWOOD, was named.
Finally, the board of Obtala Resources (LON:OBT) is infused with new blood following the appointment of a couple of directors.
The vertically integrated agricultural processing, farming, timber and retail company announced the appointment of Kevin Milne, aged 53, to the board in the role of executive deputy chairman and 37-year-old Miles Pelham as a non-executive director with immediate effect.