Small caps round-up: Kefi, Mariana, New World Resources...

14th Apr 2010 12:42

An update on its activities in Saudi Arabia has lifted the share price of gold and copper explorer Kefi Minerals. A total of 21 exploration licenses have been lodged covering 2,100km2 the company said.Also in metals, Argentina and Chile-focused exploration and development group Mariana Resources is in demand after saying it has signed a letter of intent with Cliffs Natural Resources Exploration, a subsidiary of the US mining company Cliffs Natural Resources, to explore for iron oxide-copper-gold deposits in north-central Chile.Shares in European coal miner New World Resources are wanted after it said average prices for the coking coal it has agreed to sell up to March next year are up by 87% from average 2009 prices at €163 a tonne. It has also agreed to sell 338,000 tonnes of coke at an average of €255 a tonne, a 71% increased from average 2009 prices.Thermal coal price agreements have not changed significantly, it said. 'The coking coal and coke price increases of 87% and 71% over 2009 prices we have announced today are very pleasing and provide strong evidence of a sustainable improvement in demand,' said chairman Mike Salamon.Speciality pharmaceuticals firm AGI Therapeutics saw its cash pile virtually halve in 2009 to $12m from $23.6m at the end of 2008, but on the bright side it reduced its net loss to $10.6m from $18.2m the year before and has substantially reduced its cost base.'We have successfully resized our operations and are implementing a strategy to rebuild our pipeline. While we have yet to announce the details of our new product pipeline, we have already identified a number of attractive opportunities on which we are undertaking rigorous technical and commercial due diligence, and believe this will result in a valuable pipeline of products that will re-build value in our business," said Dr. John Devane, chief executive of AGI.Smart metering company Bglobal has received regulatory clearance to start deploying its new smart meter, the Smart1, in the UK and EU electricity markets. The new meter will be launched next week at the Sustainability Live even in Brmingham.UBC Media Group has opened up what it expects to be an important source of revenue for the company by signing an agreement to supply iPhone apps to UTV Media's 14 UK radio stations.The two companies will also form a new iPhone advertising network which UBC will operate.The apps, which will enable iPhone users to listen to a UTV radio station any time they have wi-fi connectivity or a mobile phone signal, will be free to download but will feature advertising. Revenue from the advertising will be shared between UBC and each radio station client.