Proactive news round-up: Tertiary Minerals, Vast Resources, Netscientific ...

A round-up of small cap stories on the London market today

picture of newspapers
Some of the small cap news today

Fluorspar specialist Tertiary Minerals plc (LON:TYM) has raised £300,000 through a placing at 0.6p per share.

Vast Resources PLC (LON:VAST) said its strategic investment by SSCG Africa (SSA) is still awaiting final approval from the Reserve Bank of Zimbabwe.

Cancer treatment pioneer Advanced Oncotherapy PLC (LON:AVO) has drawn down the third tranche of £1.3 mln in its deal with financier Bracknor.

NetScientific plc (AIM:NSCI) has completed the £8.1mln placing and subscription announced on 25 May.

Victoria Oil & Gas plc (LON:VOG) hailed a 24% increase in output, but said it is nowhere near meeting demand in Cameroon’s second city and industrial hub, Douala. “Even at record production levels, we meet less than 10% of local demand as the city's industrial economy grows,” said chief executive Ahmet Dik.

Kazakhstan oil group Caspian Sunrise PLC (LON:CASP) expects all conditions for the merger and the associated capitalisation of the US$10.1mln Vertom loan to be concluded by 1 June. Accordingly Caspian has applied for 732,240,744 new Caspian Sunrise shares, 43.86% of the then enlarged shares in issue, will start trading on AIM around that time.

Mosman Oil And Gas Limited (LON:MSMN) has closed the deal to acquire an initial 10% interest in the Arkoma Stacked Pay project in Okfuskee County, Oklahoma for US$500mln.

John W Barr, chairman, said: "This acquisition delivers production and resources with upside potential at an economically acceptable cost, meeting our investment criteria.

Plastics Capital Plc (LON:PLA) has raised £3.74mln via an oversubscribed share placing – with part of the proceeds being used to increase its stake in the US creasing matrix specialist CCM Group to 49% from 10%. The injection of new cash will also be used to increase capacity and accelerate growth.

Kibo Mining PLC (LON:KIBO), which earlier this week completed the separate listing of its Imweru and Lubando gold mining assets in Tanzania, saw its shares tick higher today as the resources explorer unveiled its 2016 results. In lunchtime trading, Kibo Mining shares were up 2.4%, or 0.12p at 5.38p. The AIM-listed firm saw its headline loss per share hold steady at 0.01p for the year to December 31, although its diluted figure was a turnaround from earnings per share of 0.001p a year earlier.

Galantas Gold Corp (LON:GAL) said 'good' progress was made in its latest quarter in its bid to bring the Omagh gold mine back into life in Northern Ireland, and where underground development is expected to begin soon. However, production at the site is currently suspended, and the planning consent given in 2015 is subject to a judicial review, which has been heard, but the result is not yet known.

Argentina-focused Andes Energia PLC (LON:AEN) lifted its production rates and revenues last year, though the net loss widened.It also told investors it had made a good operational start to 2017.

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