(MENAFN- ProactiveInvestors)Nostrum Oil & Gas (LON:NOG) is aiming to gazump AGR Energy's bid for control of Tethys Petroleum (LON:TPLTSE:TPL). It was a big news story on a busy day in the world of small caps. Pitching an offer at 21.85 Canadian cents (11p) per existing Tethys' share the Nostrum approach would value the company at C$73.5mln (£37.2mln). Nostrum's approach represents a premium of around 15% to the price that AGR agreed to pay for new shares and is about 40% above Friday's closing price in Toronto. In other oil and gas news MX Oil (LON:MXO) is to acquire an indirect 5% revenue interest in the OML 113 licence offshore Nigeria a prospect that includes the Aje Field. Meanwhile Magnolia Petroleum (LON:MAGP) is on course to add to proven reserves as it reported on a busy second quarter in which 11 new wells began production. Mosman Oil and Gas (LON:MSMN) is focused on drilling a first well at its Murchison prospect in New Zealand later this year. Elsewhere Genel Energy (LON:GENL) has seen net production volumes of over 100000 barrels per day in Kurdistan during peak periods. Average net production during the first six months of the year was 88800 bopd up 41% from the same period in 2014. For May and June the figure was 95600 bopd. Northcote Energy (LON:NCT) expects the Lutcher Moore well in Louisiana to reach target depth in around a week. In mining Anglo Asian (LON:AAZ) gave eye-catching news as the miner posted record gold output from its Gedabek mine in Azerbaijan for the first half. Output for the six months to end June came in at 35938 ounces with 23436 ounces from the agitation leach plant 12488 ounces from heap leach operations and 14 ounces from SART the miner said. Similarly Toronto-listed gold silver and antimony miner Mandalay (TSE:MND) plans to ramp up grade at its Bjorkdal mine in Sweden in the next six months as it unveiled a solid set of numbers for its second quarter. In other gold news Grade control drilling ahead of initial mining at Hummingbird's (LON:HUM) 1.8 million ounce Yanfolila gold project in Mali has delivered a strong indication that the overall grade in the pit might improve. In other news timber specialist Active Energy Group (LON:AEG) still expects revenues from its wood chip business to double this financial year. Volumes from the hardwood chip operation are set to grow more than 100% on the 154103 tonnes achieved in 2014 but still below forecast because a stationary chipper capable of quadrupling capacity at its facilities at Yuzhny Port Ukraine won't be fully operational until late August. Recycling specialist ZincOx Resources (LON:ZOX) is set to withdraw from Turkey and is selling its assets in the USA to concentrate on developing its next plant in the Far East. To the world of tech and Motive Television (LON:MTV) has developed new technology to add Internet-delivered (also known as Over-the-Top or OTT) channels to its TabletTV product. Meanwhile top level Internet domain specialist Minds + Machines (LON:MMX) is to hook up with ALM Media to collaborate on promoting the .law domain. Elsewhere Machine–to-machine (m2m) communications specialist Telit (LON:TCM) expects sales to grow even more strongly in the second half of the year after interim revenues rose by 13%. In pharma news Collagen Solutions (LON:COS) prelims showed the company's revenues are on the up at just over £1mln in the period under review from £20000 a year earlier. The adjusted loss before tax was £689816. Alliance Pharma (LON:APH) grew revenues by 6.5% in its latest half-year as sales of anti-eczema cream Hydromol continued to push ahead. Summit Therapeutics (LON:SUMM) has published data from a preclinical study for a second generation of its Duchenne Muscular Dystrophy (DMD) treatment. Finally Haydale Graphene (LON:HAYD) has set-up a potentially significant new collaboration with fellow AIM firm Versarien (LON:VRS). Together the two groups which have signed a memorandum of understanding want to develop solutions for the manufacture and functionalisation of graphene on a large scale for mass-production commercial applications.
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