Small caps: Kedco, Tangent, Patagonia Gold...

3rd Nov 2010 12:38

Biomass power group Kedco has agreed a £9.9m project finance facility with Ulster Bank Group, a subsidiary of the Royal Bank of Scotland, to provide secured debt facilities for its biomass electricity and heat generating plant in Newry, Northern Ireland. The facilities comprise a term loan as well as VAT, working capital and performance bond facilities. Kedco is currently working towards satisfying the pre-conditions and agreeing legal documentation.Patagonia Gold's shares were shining after 'exceptional drilling results' at its Cap-Oeste South East gold-silver project in Argentina's Santa Cruz province. High grade gold and silver continues to be encountered on the project, the company said.Shares in Tangent Communications frothed higher after brewer Carlsberg signed up the marketing firm to provide a web portal to help pub landlords in Britain make savings, attract drinkers and manage staff.Medical research services provider Avacta narrowed losses in the year to end-July as revenue more than doubled. The group posted a loss before tax of £2.03m, down from £2.84m the year before, on revenue that grew to £2.07m from £0.94m.Cash at the bank at the end of the financial year stood at £1.43m, up from £0.88m the year before. Development expenditure capitalised during the year was £1.04m (2009: £0.16m).Houston-based oil company Endeavour saw third quarter pre-tax losses surge to $13.69m from $5.20m the year before. Revenues climbed to $19.85m from $7.76m. Production growth was driven by activity in the Louisiana Haynesville shale play where the company had four successful completions during the quarter.Cash and cash equivalents at the end of September stood at $16.53m, down from $27.29m at the end of 2009.Sunrise Resources, the diversified mineral exploration and development specialist, has received positive results from metallurgical test work and colour testing for samples collected from within the old workings at the company's 100%-owned Derryginagh barite mine, in South West Ireland.The results confirm saleable barite concentrate can be produced by low cost gravity processing. The company added that the results of a programme of geophysical exploration at the mine site has identified significant additional strike potential well beyond the limits of the existing mine workings.