Below is a roundup up of today's small cap news highlights & AIM risers.
Wolfe Minerals Continues Rise, Up 38%
Wolfe Minerals (WLFE) was up 38% today after announcing the conditions for its funding were satisfied yesterday.
The speciality metals producer announced yesterday that “all of the conditions precedent to the standstill arrangements and amended and restated agreements with the Company's existing senior lenders and Resource Capital Fund VI L.P. (RCF VI) have been satisfied.”
The waiver allows Wolf to grant RCF VI security for the amended bridge facility without shareholder approval.
Angling Direct Jumps After Excellent Interims
Angling Direct (ANG) jumped 16% after releasing its first trading update for the first six months of the year.
Revenue for the period was ahead of management's expectations, increasing by 56% to £21.9m compared to £14m in the previous year - reflecting strong store and e-commerce sales.
Retail store sales increased by 60% to £9.93m while online sales were up 60% to £11.69m due to continued investment in the company’s e-commerce platform.
New Results For Mkango's Rare Earths Zones
Mkango Resources (MKA) today announced it had intersected extensive zones of rare earths mineralisation at its Songwe Hill Project in Malawi.
Shares rose 10% on the news, which included results for the first eight holes totaling 944m of its targeted 10,000m diamond drilling programme at the Songwe Hill Rare Earths Project in Malawi.
Asiamet Appoints Berenberg As Broker
Shares in Asiamet Resources (ARS) increased 5% today after announcing the appointment of Berenberg as its Joint Corporate Broker.
The AIM-listed company said: “As part of the Company's strategy of increasing its profile into the broader European market through market based research, the company is pleased to announce the appointment of Berenberg as its joint broker with immediate effect.
Tekmar Buying Business From Founder For £4m
Tekmar (TGP) , which listed earlier this year, today said it was looking to acquire Subsea Innovation for £4m.
The provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services would buy the business from founder Gary Ritchie-Bland.
The company said that Subsea Innovation would bring “world-class engineering in the design, development and manufacture of back deck equipment and subsea pipeline repair clamps ("EPRC") to Tekmar's portfolio along with a blue chip client list and a skilled engineering team.”
