News

Small caps round-up: Entelos, Platinum Australia, Bezant Resources

19 December 2007 13:33:00

Shares in Entelos rallied on news that the life science group signed an agreement with Johnson & Johnson Pharmaceutical Research & Development to discover and evaluate potential new therapies for treating type-2 diabetes.

Financial terms of the deal were not disclosed.

"The deal reinforces Entelos' stated strategy to enable proprietary drug development, particularly in chronic disease areas where multiple drugs, treatment choices, and large differences between patients make it difficult for health-care providers to select the best treatments," said president and chief executive James Karis.

Platinum Australia said latest drilling results from the Sirius deposit show wide zones of mineralisation with good grade.

The group said drilling in the 800m wide gap between the Serpens South and Crux deposits has also confirmed further mineralisation.

Gold and copper miner Bezant Resources saw pre-tax losses widen to £686,000 from £130,000 but said it is confident of its prospects in 2008.

In a separate statement, the AIM-listed group said it has further expanded the copper and gold mineralisation at its Mankayan project in the Philippines, adding that the prospects for 2008 look very promising.

Helius Energy announced that it has won a contract with the Combination of Rothes Distillers in Morayshire for the development of its first 'GreenSwitch' small scale biomass CHP plant.

The project comprises a plant for processing distillery by-products into fuel for a combined heat and power plant.

Greystar Resources said the measured and indicated mineral resource estimates for its Angostura deposit in Columbia have increased by 37%, comprising 10.15m ounces of gold and 49.84m ounces of silver.

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