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The Markets
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Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
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Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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Investments and investor services

Proactive news highlights including Fastjet, Active energy, KEFI, Arian Silver...

There was a lot of news from the small cap space today

Active Energy (LON:AEG) has played down a newspaper report stating the company claimed it could save one of Britain's largest coal power stations from closing.

The decision to close Eggborough power station in Yorkshire in March, 2016 could be reversed if a new biomass fuel technology was introduced, wrote The Times on Friday.

Elsewhere in the energy sector, a new player has thrown its hat in the ring for Tethys Petroleum (LON:TPL, TSX:TPL), the Kazakhstan-focused oil & gas company.

Olisol Investment Group, a private company that has its headquarters in Almaty, Kazakhstan, has submitted a non-binding proposal to Tethys, which is currently in takeover and funding negotiations with Nostrum Oil.

Alaska oil explorer 88 Energy (LON:88E) has drawn on its loan with Bank of America having met all of the facility’s conditions.

UK Oil & Gas Investments (LON:UKOG) is studying whether it can make its Horse Hill development barely visible if it gets to the production stage.

Elsewhere, Europa Oil & Gas (LON:EOG) remains committed to increasing its portfolio in Ireland and onshore UK.

AFC Energy (LON:AFC) has supplied the first electricity from its new fuel cell facility in Stade in Germany into the local power grid.

Range Resources (LON:RRL, ASX:RRS) said production testing is scheduled for the next two weeks at its MD 42N development well on the Morne Diablo field as it updated on operations in Trinidad.

To mining – where Gemfields (LON:GEM) is a unique play on the coloured gemstones sector, according to SP Angel, which has initiated coverage of the stock.

The resource sector specialist said it likes the investment case for Gemfields, which is supported by a fundamental value on a sum of the parts basis, but fears short term head-winds in the luxury goods market could hold back the price in the short-term.

Meanwhile, Central Asia Metals (LON:CAML) has repeated its production guidance of 12,000 tonnes of copper for full year 2015 from its Kounrad recovery plant in Kazakhstan, despite reduced output in the third quarter.

Mexico-focused miner Arian Silver (LON:AGQ, TSXV:AGQ) said the latest mineral resource for its flagship San Jose project confirmed the potential for the site to be expanded.

KEFI Minerals (LON:KEFI), the gold specialist putting the finishing touches to financing of its flagship project in Ethiopia, revealed progress on second asset, in Saudi Arabia.

In other news, mobile commerce group Mporium (LON:MPM) was boosted over 9% on Monday as its senior management last week bought shares in the firm worth almost £80,000.

Meanwhile, low-cost airline Fastjet (LON:FJET) carried a third more passengers in September over a year ago as a fourth jet joined the fleet.

Elsewhere, clinical services provider Ergomed (LON:ERGO) has deepened its relationship with US drugs firm CEL-SCI(NYSE:CVM) relating to the Multikine cancer treatment.

Iona Energy (CVE:INA) is seeking to amend the terms of its business restructuring and has summoned bondholders to a meeting on October 13 this year, it said.

The firm said it had become clear that further time was required to finalise certain elements of the paperwork.

Finally, brick producer Michelmersh Brick Holdings (LON:MBH) revealed that non-exec director Alan Hardy has resigned with immediate effect, to pursue other interests.

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