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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

FTSE100 rallies post Budget but small caps lower

Small cap shares were heading south in contrast to bigger brother FTSE100 but tech group Sopheon PLC was a notable riser.

Small cap shares were heading south in contrast to bigger brother FTSE100 but tech group Sopheon PLC (LON:SPE) was a notable riser.

Shares in the product development software supplier surged over 35% to 97p each as it told investors it had moved firmly into the black in 2015 at the pre-tax level while underlying earnings (EBITDA) more than tripled.

Elsewhere, miners were on the up but FTSE AIM 100 was down 0.55% at 3,336, while FTSE AIM All share was 0.19% lower at 708.890.

FTSE100 was rallying, up over 30 points, with blue chip miners the podium takers, as traders continue to digest yesterday's budget and the fact the US fed took no action on interest rates and adopted a cuatious stance. US shares closed up firmly higher last night.

Aureus Mining Inc (LON:AUE, TSX:AUE) shot up almost 16% to 7.38p as the gold miner revealed it produced 4,500 ounces of gold at the New Liberty mine in the first two weeks of March and in line with February's total.

Gold production for the calendar year to date now totals 19,200oz.

Since commercial output began at the beginning of this month, production has been stable with recovery levels in excess of 90%.

Capital Drilling (LON:CAPD) added 18.52% to 32p as its financial results for 2015 showed that the drilling contractor had strengthened its balance sheet, generated positive free cash flow, and paid maiden dividends.

Those achievements came in spite of a significant softening of commodity prices and headwinds in the global mining industry.

ValiRx Plc (LON:VAL) added 2.86% to 13.50p as it appointed a specialist investor relations firm to build its recognition among academic, clinical, and business leaders in the US.

LGO Energy (LON:LGO) saw shares bounce as it yesterday revealed it had taken another step to restore its finances with a £1mln equity raise and more settlements in shares with its suppliers.

Earlier this week LGO announced it was to start production again at its Goudron field in Trinidad after the financial crisis last year sparked by a well failure.

On the flipside, potash mine developer Sirius Minerals (LON:SXX) saw shares fall 23% to 17.5p despite it saying its giant polyhalite project in Yorkshire in a DFS had a net present value of US$15bn using a 10% discount rate.

A two stage financing plan is required comprising US$1.63 billion for the first and US$1.93 billion for the second to get it up to the planned 10Mtpa (million tonnes per annum) capacity.

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