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Proactive Small Cap highlights - More bucks for Bango

Published: 04:30 14 Nov 2015 EST

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Bango (LON:BGO) shares ended the week higher at 98p after investors welcomed a £11mln equity funding, priced at 90p.

The cash has been raised to reassure blue-chip partners - the app stores for Amazon, Google Play, and Samsung to name a few - it is on a sure financial footing.

It wasn’t the only AIM tech play able to draw investors, however, as University of Leeds spin-out Xeros Technology (LON:XSG) launched a £40mln funding with the aim of bolstering the commercialisation of its water saving laundry machines in Europe and the US.

Starcom (LON:STAR), which has tech to tag and track people and objects, jumped as much as 70% at one point, after unveiling a joint venture with US data management firm Sato Global.

Elsewhere, TV show producer DCD Media (LON:DCD) slumped about 107p, 30%, to 255p after its rebooted version of the Celebrity Squares, hosted by Warrick Davis, was dropped by ITV.

If the funding market for the small cap technology sector is alive and well, weary is probably a better description for natural resources such as oil and gas.

Ascent Resources (LON:AST) slid a further 40% after raising just over £700,000, and it also announced it was in talks that could allow it to produce and sell gas from its Petišovci field in Poland.

North Sea focussed Independent Oil & Gas (LON:IOG) said it was now at the advanced stages of planning for and appraisal well on the Skipper project, though it is still continuing efforts to secure the necessary funding.

Xcite Energy (LON:XEL), also a North Sea junior, saw its shares rise 10% after it farmed-out its exploration interests (it’ll retain between 60-50% going forward).

Another oiler looking for capital was Northern Petroleum (LON:NOP) which on Thursday said it was raising £1.2mln through a share sale and launched an open offer for existing shareholders. It comes at it agreed the acquisition of additional production assets in Canada.

Offshore Italy, Rockhopper (LON:RKH) saw success at the ENI operated Guendalina gas field where a side-track to an existing well encountered all targeted horizons and all were gas bearing.

Mine developer KEFI Minerals (LON:KEFI) rose 6.2% on Wednesday on news the Ethiopian government was taking a 20-25% stake its Tulu Kapi gold project in return for an US$15-20mln investment.

Uranium Resources (LON:URA), meanwhile, lost about a third of its value after deciding to shelve plans for the Mtonya project until the uranium market picks up.

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