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Thursday's movers: EMED Mining, CloudBuy, Thor Mining, Proxama and BAE Systems

Last updated: 02:40 20 Feb 2014 EST, First published: 03:40 20 Feb 2014 EST

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Footsie was on the slide early Thursday as data from China disappointed. However, there were a handful of notable gainers in the small cap arena.

One was Spain focused mining group EMED Mining (LON:EMED), whose shares were lifted as it appears to be moving ever closer to obtaining permission to restart the Rio Tinto copper mine.

It claimed this morning that another ‘significant step’ has been taken in the process.

Today, the company told investors that it has now received a ‘Dictamen Ambiental’ from Andalucia’s Ministry of Environment.

Meanwhile, e-commerce operating specialist CloudBuy (LON:CBUY) was making headway as it unveiled a contract win. Shares gained 3.7% a pop.

The group is to provide an intranet system to a major central government agency, it revealed.

It will use the firm's content management technology and agreed revenue is £406,000 with potential in year one for total revenue of £600,000, followed by recurring revenues.

Elsewhere, Proxama (LON:PROX) was motoring after it announced a partnership with Cryptomathic, a leading security provider to launch a mobile contactless payment solution.

The new solution can be used to enable existing mobile applications and it works across debit, credit, pre-paid and gift card schemes.

Obtala Resources (LON:OBT) edged higher after it said it will enter the branded sauce market in mid-March under the “Mama Jo’s” label.

It plans to launch its own branded range of glass bottled tomato ketchup, chilli and spicy sauces for the Northern European and Northern American catering market.

Similarly, ValiRx (LON:VAL) moved higher after it received European patent approval for its cancer screening test biomarker NAV3.

The test enables cancer cells to be detected in tissue samples at a stage where tumour development is only about to start.

The system can be used in a range of cancers, including colon, breast and lung.

Thor Mining (LON:THOR) rose nearly 6% as it said it has carried out the exploration and evaluation spend required to earn an additional 29% of the Spring Hill gold project in Australia’s Northern Territory.

It takes its holding in Spring Hill to 80% and represents the final stage of the acquisition from Western Desert Resources.

In the blue chips, BAE Systems (LON:BA.) was dragging down FTSE 100, losing almost 11% as it said sales for 2013 fell below consensus expectations against reduced government spending and challenging market conditions.

The group's sales for the year to December 31 came in at £18.2 billion, which was a 2% increase on the £17.9bn posted in 2012, but below consensus of £18.9bn.

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