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HIGHLAND GOLD MINING LTD. (HGM.LN), a Russia-focused gold
producer, Monday said that BARRICK GOLD CORP. (ABX) has decided to
sell its 20.4% stake in the company, as it no longer considers it
core to its business operations and strategy.
Barrick, however, remains supportive of Highland's board and
management as they continue to execute on Highland's growth
objectives, Highland said.
At 1200 GMT, shares -7.75 pence, or 4.55%, at 162.5 pence.
ORMONDE MINING PLC (ORQ.DB), a Spain-focused metals explorer,
said the definitive feasibility study for its Barruecopardo
tungsten project in western Spain is complete and the results will
be ready by late February, allowing the company to progress ongoing
funding talks.
The study offers a detailed technical, economic and market
assessment of the project for management.
Shares +0.13 pence, or 1.4%, at 9.0 pence.
ALEXANDER DAVID SECURITIES GROUP PLC (ADS.LN) said it has agreed
to buy Bridge Hall Stockbrokers Ltd. for GBP30,000, despite warning
that it expects to show a "modest loss" for 2011 due to a continued
slowdown in its markets.
"This loss is due to a number of factors but the main reasons
include reduced trading volumes and a smaller number of corporate
transactions in the last five months of the year. Market conditions
have also led to delays in completing corporate transactions," it
said.
Shares down 0.04 pence, or 18.9% at 0.15 pence
GLOBO PLC (GBO.LN), a mobile telecom firm, has bought U.S.-based
telecom technologies firm Dialect Technologies Inc. for $800,000,
establishing itself in the "strategically important U.S.
market."
Dialect has developed proprietary voice over Internet protocol
and mobile telephony technologies which, when integrated into
Globo's products, will strengthen the group's offering, Globo
said.
Shares up 1.25 pence, or 5.2% at 25.25 pence
AFRICAN MINERALS Ltd. (AMI.LN), a Sierra Leone-focused miner,
came a step closer to receiving $1.5 billion in funding for its
Tonkolili iron ore project from Chinese state-owned Shandong Iron
and Steel Group after the China National Development and Reform
Committee approved the investment.
African Minerals said remaining Chinese government approvals are
expected shortly.
Shares up 33.0 pence, or 6.3% at 560.5 pence
CIRCLE OIL PLC (COP.LN) said it has successfully commissioned
its new gas pipeline in the Rharb Basin permits in northern
Morocco, delivering about 3.18 million cubic feet of gas a day to
local industry by March, double its current rate, and boosting
revenue.
Chief Executive Chris Green said: "Circle and its partner have
now begun to significantly increase gas supplies and associated
revenues as the next step in further exploiting our Rharb
acreage".
Shares up 0.25 pence, or 1.1% at 23.375 pence
FTSE UK Small-Cap +0.27%
AIM +0.59%
-By Iain Packham and Ian Walker, Dow Jones Newswires; +44 (0) 20
7842 9269; uksmallcaps@dowjones.com