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Small cap highlights: InternetQ, Motive TV, Highlands Natural Resources, Haydale Graphene, Sound Energy and more

Published: 02:30 06 Feb 2016 EST

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The week’s biggest winner was InternetQ (LON:INTQ) which gained over 70% after hedge fund group Toscafund Asset Management backed a management buyout proposal to take the digital technology company private.

For Motive TV (LON:MTV) it was a case of giveth and taketh away. On Wednesday, the launch of a new tablet based television streaming app on the Apple Store boosted the share price, which rose sharply.

But, the next day, it was confirmed that the company’s lender, the Bergen Global Opportunity Fund, had exercised its right to convert a portion of debt into equity, thus sending Thursday’s price back down.

Highlands Natural Resources (LON:HNR) restarted trading at a premium after a seven month hiatus, whilst the company closed a reverse takeover. The group is now pushing ahead with its new oil drilling technology business, which allows horizontal wells to be ‘refracked’.

Elsewhere, Haydale Graphene (LON:HAYD) also revealed progress with a new technology which could prove a ‘game changer’ for the oil industry.

The South Wales based advanced materials firm has opened a new facility in the east midlands where graphene enhanced composite pipes will be tested. These nano-hardened plastics could be strong enough to replace much more expensive metal oil and gas pipelines.

Haydale says the new facility will help it dial into the best calibration for potential commercial applications.

Sound Energy (LON:SOU) has confirmed the start of production from the Nervesa gas field, onshore Italy.

The Nervesa well successfully began commercial production on February 3, the company said in a statement. Production rates will be announced in due course, it added. First an initial clean-up phase will be completed and then the stable flow rates will be assessed.

Offshore Italy, meanwhile, Rockhopper Exploration (LON:RKH) has confirmed that law changes in Italy mean that a production concession will not be awarded for the Ombrina Mare field.

It told investors that Ombrina Mare had all necessary technical and environmental authorisations, however, the project won’t go ahead due to the re-introduction of a ban on exploration and production activity within 12 nautical miles of the Italian coast.

The company said it is now considering its options, which could include a claim for damages and compensation from the Republic of Italy under international treaties.

Meanwhile, the company said that none of its other interests in Italy, including the Guendalina gas field, are expected to be impacted by the changes in legislation.

Bahamas Petroleum (LON:BPC) shares shot-up by 33% after a new Petroleum Bill and associated legislation was passed by the Bahamian Senate. In a stock market statement, BPC told investors that Bahamas Governor General will now receive the bills for signing and they will subsequently be passed into law.

W Resources (LON:WRES) has seen a significant upgrade to its tungsten resource at La Parrilla in Spain.

The new JORC estimate is 51mln tonnes (mt) at 0.096% WO3 (tungsten trioxide) and 0.108% Sn (tin), but within that 36mt or 70% is now in the higher quality indicated category compared with nothing in the 2013 estimate of 47mt.

W Resources plans to develop the mine at La Parrilla in two stages and there is now a resource of 13mt at 0.101% WO3 identified in the Fast Track Mine (FTM) area.

Bushveld Minerals (LON:BMN) has had a value of more than US$400mln slapped on its Mokopane vanadium project in South Africa.

A pre-feasibility study (PFS) carried by a group of consultants estimated Mokopane’s reserves of 28.6mln tonnes would support a minimum of thirty years mining, running at annual production of about 1mln tonnes annually.

It’s a bold company in the current climate that attempts to finance a gold project.

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