Small caps round-up: Leni Gas, Lipoxen, Mucklow...

13th May 2009 12:27

Leni Gas & Oil has boosted its presence in the Gulf of Mexico through the award of the grant of two new leases to Leed Petroleum and Byron Energy. Byron is an associate of Leni Gas and has an option to acquire 25% of the new Leed leases. Byron itself has also been granted four new leases in the Gulf, of which Leni will be able to take a direct 20% stake. Bio-pharma Lipoxen has received funding from the US National Institute of Allergy and Infectious Diseases to apply its ImuXen technology to enhance the performance of malaria vaccine candidates.Management at AJ Mucklow have taken a 10% pay cut for a year ahead of what is expected to be a tough 12 months for the property group. Rental income remained steady during the third quarter, but market conditions remain challenging and tenant demand for new space has weakened, it says.Mwana Africa has signed an option to sell to Signature Metals its entire interest in the Konongo gold exploration asset in Ghana. Signature will carry out a mining study on the Konongo gold project within 12 months to earn the option to acquire Mwana's 70% holding. Acquisition will be by payment of 50m Signature shares or A$1m in cash. Further payments may accrue up to $4m depending on output from the prospect.Russia-focused telecoms group Teleset Networks' revenues in 2008 jumped by 35% to $30.6m, boosted by acquisition Svyazinvest. Operating profit rose by 44% to $12.8m (2007: US$8.9m). Basic earnings per share for 2008 were US$ 0.0558 (2007: US$0.0405). Despite the economic downturn, the Board expects the Company's financial performance to reflect demand for broadband telecom services, which remains strong in both residential and business sectors.Shares in African Eagle Resources rallied today after the group said exploration data from its Igurubi project in Tanzania showed that the project hosts a 'significant' gold deposit. New Star Investment Trust has announced that Geoffrey Howard-Spink has replaced James Roe as chairman of the group with immediate effect.