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Small cap highlights: “a transformational point in Cyan's development.”

Published: 18:00 09 Apr 2016 AEST

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With a lot of news out in the small cap world this week, Cyan Holdings (LON:CYAN) managed to catch the eye as the smart metering firm landed a £10mln order win in Iran.

It is ten times larger than any purchase order the company has received to date, which is why the share was one of the biggest gainers over the past five days.

The otherwise underwhelming AIM share sparked into life, marking an impressive 70% rise for the week.

Executive chairman John Cronin called it “a transformational point in Cyan's development.”

Cyan wasn’t the biggest winner this week, however, as, after a barnstorming end to the week, oil and gas junior Oilex (LON:OEX) took home the honours.

The India focussed gas junior announced the start of production from the Bhandut field, with a well flowing gas at a stabilised rate of 700,000 cubic feet per day, which is equates to about 120 barrels of oil per day.

Oilex - which was recently in the market’s bad books - rallied to double in value on Friday morning, and was some 160% higher for the week.

Aminex (LON:AEX) was another in focus oil and gas stock, and like Oilex it was achieved ‘first gas’.

After several months of anticipation the company and its AIM quoted partner Solo Oil (LON:SOLO) has finally turned on the taps at the Kiliwani North gas field, in Tanzania. Both shares slipped back this week despite the news. 

Meanwhile, more broadly, the AIM All-Share benchmark notched up a healthy 6.3% gain.

REACT Energy (LON:REAC) shares doubled to 6.15p on the news that the Clay Cross project has been recommended for approval by a planning official.

The project is for a proposed energy recovery facility in Derbyshire, and the next milestone for investors to keep an eye out for is a council committee meeting on April 11.

Moving to the healthcare sector, there was some good news for Deltex Medical (LON:DEMG) shareholders, after it signed up two more US hospitals for its bloodflow monitoring systems including its first major account in a veterans’ hospital.

Ewan Phillips, chief executive, said he sees opportunities to roll-out its oesophageal Doppler monitoring probes across the entire 150 medical centre VA system in the next two to three years. Shares were 20% higher to 4.28p.

It wasn’t all good this week though, with Strat Aero (LON:AERO) headlining the fallers, down some 40% to 1.62p.

The drone-maker has been seen more often than not on the high-flyers list, but, hopefully unlike one of its drones, came crashing back down to earth.

The firm reported it has filed a legal action against former chairman and chief executive of its subsidiary Aero Kinetics, alleging fraud and breach of contract through misrepresentations made before it agreed to buy the subsidiary.

Another at the wrong end of the AIM table was Chinese herbal medicines group Taihua (LON:TAIH), which saw sales fall 34% to RMB35.1 mln in 2015.

It also revealed that its harvest of Chinese herb Forsythia was also well down.

Shining a silver lining the group said the renewal of a Chinese GMP certificate would help sales recover.

Finally, to the most bizarre story of the week, and Jersey-based Flying Brands (LON:FBDU) revealed £78,000 has gone missing from the investment company’s bank account.

Police are investigating, but the company said it does not expect to recover the money - which means the cash remaining in the business now stands at £223,000. Despite the loss, shares were actually almost 20% higher by Friday to 1.63p.

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