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Small caps round-up: Ark Therapeutics, Hambledon, Nighthawk ...

Tue, 08th Feb 2011 14:28

Drug developer Ark Therapeutics has sold the majority of its wound care business to Crawford Healthcare for up to £2.7m, comprising £0.77m upfront and up to £1.93m in milestone payments.The value of the gross assets being sold was put at £1,153,000 as at 30 June 2010. The losses on ordinary activities after tax attributable to the sold businesses was £428,000.Hambledon is increasing planned output from an underground mine currently being built at its Sekisovskoye operations in Kazakhstan.First ore is due to be extracted from underground in December and the extraction rate is now expected to grow to 850,000 tonnes per annum (tpa) over five years compared with the initial plan for 500,000tpa. Gold production from the underground mine alone is targeted to incrementally reach 65,000 ounces in 2014 and 110,000 ounces in 2016. Net production at oil company Nighthawk fell to 3,086 barrels of oil in the fourth quarter of 2010 from 4,092 barrels during the previous three months.It blamed the decline on more work-overs and recompletions in the period and said first quarter output will be broadly in line with December's number.Byotrol, the developer of anti microbial hygiene technologies, has extended its pact with own-label producer McBride to jointly develop and sell residual action liquid disinfectants in the European market. It is now expected that the first product will be launched in the first half of 2011. Byotrol and McBride intend to enter into full licence agreements, with UK product launches of Byotrol-based household care products expected in the third and fourth quarters of 2011. Home care operator Southern Cross Healthcare saw revenue dip in the final quarter of 2010 to £236.3m from £240.5m (restated) the year before, while the average occupancy rate on a like for like basis declined to 87.6% from 90.7% a year earlier.Adjusted earnings before interest, tax, depreciation and amortisation tumbled to £5.0m from a restated £14.4m in the corresponding period of 2009. Net debt during the quarter rose £14.1m to £21.4m. The group continues to engage with Landlords in pursuit of a restructuring of its lease terms and will provide a further update on this subject in due course.
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3 Jan 2013 09:25

Nighthawk wells closed by excess water

Shares in Nighthawk, the US focused shale oil development and production company, fell on Thursday after it said weather problems had kept one of its mines closed. Its wholly-owned Knoss 6-21 well in the Jolly Ranch Denver-Julesburg Basin in Colorado had to be shut shortly after production began in

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3 Dec 2012 12:34

Nighthawk Energy unveils highly successful drilling campaign

On Monday morning Nighthawk Energy provided a drilling update on its Steamboat Hansen 8-10 well, the highlight of which was that it confirmed the potential of a shale formation located in the northern part of its acreage. As well, the AIM listed and US focused shale oil development and production c

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6 Nov 2012 08:34

Gyllenhammar doubles stake in Nighthawk Energy

Activist value investor Peter Gyllenhammar has more than doubled his stake in Nighthawk Energy by converting a loan note into equity. Gyllenhammar, a Swedish investor renowned for spotting undervalued companies, now holds 10.9% of AIM-listed Nighthawk, a US-focused shale oil development and product

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1 Nov 2012 09:42

Resources round-up: Nostra Terra, Nighthawk, Sunrise

US-focused oil and gas producer Nostra Terra is to abandon work on the first well drilled at its Bale Creek prospect to concentrate on the second well drilled, which is now producing oil at a rate of 2.5 barrels per hour. Nighthawk Energy, a US-focused shale oil development and production company,

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19 Oct 2012 09:13

Resources round-up: Mariana, Red Rock, Nighthawk

Mariana Resources, the mineral exploration company focused on South America, has completed due diligence and is press on with the earn-in option with Condor Resources for the Condor de Oro project in Northern Peru, as detailed in its announcement on October 4th. Condor has granted Mariana two opti

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27 Sep 2012 16:00

Broker tips: Compass, Nighthawk, Rexam

Seymour Pierce has turned less positive on Compass Group, despite the contract caterer's fourth quarter numbers coming in ahead of expectations. According to the broker's calculations, the company's £0.5bn budget to buy back shares should be blown by the end of the year, at which point the question

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27 Sep 2012 15:21

Broker snap: Nighthawk's results of historical interest only

Westhouse Research, the house broker for US-focused shale oil development and production company Nighthawk Energy, said Thursday morning's poorly received full year results are of historical interest only. The results cover the period of the transfer between the David Bramhill management and the ne

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27 Sep 2012 09:05

Resources round-up: Astar Minerals, Nostra Terra, Eurasia Mining

Astar Minerals, an operator of quarries in British Columbia, has signed a heads of terms with Aggregates West to operate a number of quarries based in an area between the US/Canadian border and Seattle. Aggregates West as a number of sites with high quality reserves of sand and gravel and either own

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21 Sep 2012 16:48

London close: Stocks finish flat, Sterling up but overbought

Footsie's movements were being directed by the Grand Old Duke of York today and, as in the old nursery rhyme, ended the day more or less neither up nor down. Extra time often leads to penalties What was set up to be the big item of the day, the decision from the independent directors of mining gr

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21 Sep 2012 11:50

London midday: Stocks tread water

After a bright start London reversed course shortly after 10:00 and the top-share index is now little changed. Miners are still going well, clawing back some of yesterday's losses, but utilities are out of favour, especially National Grid, after JP Morgan Cazenove downgraded the stock to "underweig

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21 Sep 2012 08:34

Nighthawk soars on oil success at Jolly Ranch

Nighthawk, a US-focused shale oil development and production company, has said a continuous 24-hour flow test on the John Craig 6-2 well at its 75 per cent owned and operated project at Jolly Ranch in the Denver-Julesburg Basin, Colorado, produced over 600 barrels of oil. The well tested commercia

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27 Apr 2012 14:33

Resource round-up: Thor Mining, ECR Minerals, Jupiter Energy

Thor Mining has said that the deasibility study for the Molyhil tungsten and molybdenum project in Australia's Northern Territory is progressing but there 'remains a substantial amount of due process and procedural work to be completed'. The report is consequently now not due before June 2012. ECR

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23 Jan 2012 16:35

Another Tesco director races to the checkout

Senior Independent Director of Tesco's, Patrick Cescau, has become the third director to hit the till with a trolley load of shares this month. Cescau footed a £60,247 bill having purchased 18,340 shares at 328.5p each. It's proved to be something of a trolley-dash in the past few weeks, with

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17 Jan 2012 08:52

Nighthawk raises more cash

US-focused oil firm Nighthawk said it had raised around £2.9m by selling more new shares to investors. The 115.7m new shares, which have been placed with institutional and other investors at 2.5p per share, come at a discount of 7.4% to the closing share price yesterday. The sale is part of a wide

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26 Oct 2011 14:36

Nighthawk spreads its wings

Nighthawk, the US-focused oil development and production company, has raised around £1.97m through the placing of 78,892,000 new ordinary shares at 2.5p per share. Steve Gutteridge, chairman of Nighthawk, said the move "represents an initial and welcome step towards rebuilding value for Nighthawk s

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