Miners and oil firms dominated the day’s small cap news, starting with Rare Earth Minerals (LON:REM), which increased its interest in European Metals to 11.87%.
European Metals owns the exploration rights to the Cinovec deposit, “one of the most significant lithium deposits in Europe,” the company said.
The company also announced it has applied for admission to trade on the over–the–counter ISDX market.
Speaking of listings, Capital Lease Aviation (LON:CLA) is to de-list from AIM subject to AGM approval.
The company is a subsidiary of plane leasing firm Avation (LON:AVAP), which has progressively increased its stake to about 97% from 62% over the last 18 months.
In the oil sector, Magnolia Petroleum (LON:MAGP) pushed past the 200 well mark in its latest quarter as seven more came on stream.
The US oil and gas producer now has 202 wells in operation with a further ten in development and due to come on line in the final quarter of 2015.
Elsewhere, UK Oil & Gas Investments (LON:UKOG) secured a planning consent extension for a well in southern England and has started work on a field development plan.
Falkland Oil & Gas (LON:FOGL) has found hydrocarbons in its Humpback well, but said progress had been slower than expected.
FOGL said it had recorded oil & gas shows whilst drilling through the main target horizon in the well.
In other energy news,tidal power specialist Atlantis Resources (LON:ARL) has secured the transfer of a €17mln EU grant to its MeyGen project in the Pentland Firth.
Originally earmarked for another tidal project, Kyle Rhea, Atlantis said the new funds would speed up MeyGen’s progress, where the second phase is expected to reach financial close and start construction next year.
To pharma – where Motif Bio (LON:MFTB) revealed the identity of the partner that will help take its next-generation antibiotic through the final stage of clinical trials.
The AIM-listed drug developer is teaming up with Covance, a leading contract research organisation and a subsidiary of New York-listed Laboratory Corporation of America.
In tech news, Youtube-style video specialist Rightster (LON:RSTR) has started a strategic review that will assess options for the business going forward.
Possible outcomes include a strategic partnership, acquisitions to increase the scale, disposals or a complete sale of the company.
In finance news, Medgold Resources’ (CVE:MED) board backed its share placing last night, buying up more than 1mln of the 5mln shares issued.
Teathers Financial (LON:TEA), the AIM-listed investment vehicle, said it is ploughing £100,000 into Leni Gas Cuba, the new vehicle of entrepreneur David Lenigas,
Finally, mining royalty specialist Anglo Pacific Group (LON:APF, TSX: APY) expects another of its coal mine investments to see a rebound in production over the remainder of 2015.