(MENAFN- ProactiveInvestors) Most of the attention may have been on first-liners on Friday as the Footsie broke through the 7000 level but there was plenty of activity involving small caps much of it to do with funding.
Trading in shares in () was suspended pending clarification of the company's financial position.
The Kyrgyz Republic-focused gold explorer outlined a host of proposed new measures including a change in name to Prospex Oil and Gas.
It plans to dispose of its wholly-owned subsidiary Central Asia Resource which owns its main asset - the Cholokkaindy licence - to Tridevi Capital Partner so it can repay an outstanding loan under a convertible loan agreement it entered into with Trivedi in 2013.
() has secured funding of US$8.9mln to fast-track development of its Yanfolila gold project in Mali.
The company announced the results of the placing announced Thursday with the shares being placed with existing and new institutional invests at 30p per placing unit.
() has repaid US$250000 of its US$800000 convertible loan from financier Bergen and will pay off the remainder shortly.
The tungsten explorer recently received a VAT refund and set up a new bank facility and will use these funds to finance the repayment alongside a placing at 0.2p that will raise a further £375000 gross.
Clean energy specialist () announced the issue of around £5.7mln in loan notes to major shareholder Farmers which it reckons will aid its bid to get funding to fire up the Newry Biomass project once again.
The site in Ireland is currently on care and maintenance pending additional finances to obtain a new technology provider.
() has said it is examining all options to secure new capital as a strategic update revealed it requires some US$26mln of cash.
It comes after activist shareholders instigated management changes and funding partner withdrew its support.
Chariot Oil & Gas () has enough funds for its exploration commitments in Namibia Morocco and Brazil in the current year and beyond it said today.
The explorer ended 2014 with US$53.5min of cash despite a loss of US$41.8mln compared to US$10.5mln loss in the previous year.
Most of the loss related to a US$33mln impairment on its acreage in Namibia. Last year it carried out a 1700km 2D seismic survey in its 2312 and 2412A Central Blocks to identify areas to follow up with a 3D survey with a partner.
Shareholders in Irish oil explorer () have taken up more than half of the shares available in an open offer.
Terms of the open were one new share for 4.4 at 25p per share the same price as an institutional placing that pulled in US$25.8mln.
The open offer raised an additional £2.9mln for Providence.
Sector peer () can add another gas discovery to its portfolio as the UK Department of Energy and Climate Change (DECC) extended the boundaries of a newly awarded licence.
Block 48/22c which was awarded in November and already contains the Elgood discovery has now been expanded to also include the Hambleton discovery.
Hambleton is currently estimated to have 6bn cubic feet of recoverable resources in the base case scenario.
New World Oil and Gas () has agreed a six month extension to it licences in Denmark to enable it to carry out additional technical work.
The Danish Energy Agency has moved the work commitment deadline back to 15 September to enable fluid inclusion studies to be carried out at the blocks which are in Danica Jutland.
Eraton a consortium of oil companies including Mart Resources (CVE:MMT) has acquired 45% of a large oil lease known as OML 18 in Nigeria.
The US$1.1bn deal with Shell sees the Eraton vehicle acquire the asset.
Away from the resources sector Motif Biosciences in which () has a 38% stake has confirmed it will list on AIM on March 31.
The group which is planning to raise at least £4mln is developing a new breed of antibiotics to replace drugs that now only have a limited impact on treating bacteria strains.
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