Gemfields (LON:GEM) has unveiled plans to expand its international footprint by acquiring two separate emerald projects in Colombia worth a total of up to US$22.5mln.
The firm, which currently owns 75% of the Kagem emerald operation in Zambia and the Montepuez ruby deposit in Mozambique, said it is looking to buy projects with assets mainly in Boyacá state.
It was a big news story on a busy day in the world of small caps.
Elsewhere, in the mining sector, Galantas Gold (LON:GAL) revealed what it described as “encouraging results” from its new licence areas in the Republic of Ireland.
Staying in Ireland, fellow gold explorer Dalradian (LON:DALR TSE:DNA) reported more bumper grades from its Curraghinalt prospect.
Xtract Resources (LON:XTR) has re-negotiated the terms of its acquisition of the Manica gold project in Mozambique to stop bigger than expected dilution from future share payments.
In energy news, power storage specialist ITM Power (LON:ITM) is to site three hydrogen refuelling stations (HRS) on the forecourts of Shell outlets in London.
The deal is part of an initiative to speed up the adoption of fuel cell-powered vehicles (FCEVs) in the UK.
Meanwhile, AFC Energy (LON:AFC) said it will deliver the two final milestones of strategy in line with “earlier timeframes” as it told investors it continues to develop its “commercial pipeline of opportunities”.
The industrial fuel cell company said its dialogue was with “current and prospective partners internationally”.
88 Energy (LON:88E) shares advanced on Thursday as investors look forward to the start of drilling next month at Project Icewine, on Alaska’s North Slope.
The company this morning revealed that a rig team has now been signed and the programme is on track to kick-off in October.
Hurricane Energy (LON:HUR) said the Lancaster discovery can now officially be described as an oil field.
In the pharma world, cancer test developer VolitionRx (NYSE:VNRX) has been granted its first US patent.
VolitionRx’s tests are based on the science of Nucleosomics, which identifies and measures nucleosomes in the bloodstream and that are an indication that cancer is present.
Armadale Capital (LON:ACP) expects to sign-off the project finance for Mpokoto in the DRC alongside completion of a definitive feasibility study for the gold mine.
Summit Therapeutics (LON:SUMM) told investors that patient enrolment has completed for a phase 2 proof-of-concept trial for its potential treatment for C. difficile infection.
In gambling news, Stride Gaming (LON:STR) is living up to its name and making great strides as a quoted company.
The firm, which owns Kitty Bingo and Lucky Pants, said it expects net gaming revenue for the year to be “not less than” £25mln and EBITDA to total around £7mln for the year ended last month.
Elsewhere, Haydale Graphene (LON:HAYD) has signed letter of intent with Huntsman Advanced Materials which could represent the first-step in commercialising the AIM quoted firm’s graphene technology.
Finally, Intellectual property group Amphion Innovations (LON:AMP) has claimed a boost in its patent infringement litigation after a court in Massachusetts rejected two claims to have the case dismissed.