19 September 2014

Obtala switches advisers

03/10/2011 Robert Tyerman

Wheeler-deaLling Francesco Scolaro's Obtala Resources (OBT) has changed advisers after boosting net assets and doubling interim losses. The AIM-quoted company, which lifted net assets 36 per cent to £59.9 million and increased losses 124 per cent to £4.7 million in the six months to June, has happointed Australia's Macquarie Capital as nominated adviser and broker in replacement of ZAI Corporate Finance.

Obtala owns a big chunk of fellow AIM counter Paragon Diamonds, which upped its stake in International Diamond Consultants to 98.5 per cent (with Obtala owning the rest directly). The company raised £6 million at 50p, while Paragon raised £2.9 million, and Obtala has also agreed to secure 33 per cent of South Africa's Mokopane iron ore project, with a hoped-for potential of two billion tonnes, by taking 50 per cent of another concern Bushveld Resources.

With cash of £13.3 million, Scolaro expresses optimism for projects and future deals. At 33.5p, the shares are down from a year's high of 52.75p and offer speculative prospects.

Tags: AIM market, Francesco Scolaro, Macquarie Capital, Paragon Diamonds

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Nairobi is one of the world's most densely populated cities

Avanti wins Kenyan deal 12/09/2014

Broadband-by-satellite operator Avanti Communications (AIM:AVN) has won a deal to provide its services in Kenya.

Tags: Business in Africa, Contract wins

Mariana pushing hard at Condor de Oro 12/09/2014

Latin American gold play Mariana Resources (AIM:MARL) has reported results from its drilling programme in Peru. 

Tags: Gold, Mining

Karelian finishes sampling programme 04/09/2014

Finnish miner Karelian Diamonds (AIM:KDR) has completed the sampling programme of three target regions.

Tags: Diamonds, Mining

Urban & Civic wins Cambridge plan 04/09/2014

Property developer Urban & Civic (LSE:UANC) has won a deal with the MoD to redevelop former RAF barracks.

Tags: Property

Amur updates reserves 29/08/2014

Russian copper play Amur Minerals (AIM:AMC) has upgraded the mining reserves of its Kun-Manie site by 25 per cent. 

Tags: Mining

 Beowulf still roaring 29/08/2014

Swedish iron ore play Beowulf Mining (AIM:BEM) has reported its interim results.

Tags: Mining

More News