There was a mixed bag of news to digest on UK budget day, which proved to be positve for housebuilders, AIM companies and Britain’s nascent shale gas industry.
These were the big winners of George Osborne's measures.
The chancellor pledged to abolish stamp duty on all share transactions on growth markets such as AIM and he said he is introducing a generous new tax regime to promote early investment into shale gas.
The news gave an immediate share price lift to the likes of IGas (LON:IGAS) and Cluff Natural Resources (LON:CLNR).
Housebuilders were boosted by plans, including a major extension to the government’s existing shared equity scheme, now called Help to Buy, to assist all buyers of newly built houses, not just first time buyers as previously.
In small caps, Africa focused Aureus Mining (LON:AUE, TSE:AUE) revealed it was close to securing the final piece of the funding jigsaw for its New Liberty project, Liberia’s first gold mine.
It has mandated a group of African lenders, led by Nedbank and Rand Merchant Bank, to raise up to US$108mln in debt.
The cost of the funding is put at a very competitive 5%, and there will be no gold hedging.
Shares rose nearly 6% today to 40.25p.
In other mining news, Equatorial Resources (ASX:EQX) said it had presented its development plan for the Mayoko-Moussondji iron ore project to the Republic of Congo government and transport authorities.
The plan envisages a three stage development of the prospect with a staged ramp up in production.
Vatukoula Gold Mines (LON:VGM) has told investors that its long term production targets are achievable and its mine development strategy is sound.
Wednesday morning’s interim results revealed another period where the focus on mine development has encumbered the overall output from the Vatukoula mine.
The Russian government has provisionally accepted a regional development plan for Far East Russia that includes Amur Minerals’ (LON:AMC) Kun-Manie nickel project.
Key aspects of the plan are an 11trn rouble (US$355mln) investment in the region, of which US$125mln would come from the federal government with international and national investors putting up the rest.
Amur shares rose 6.50% to 6.55p.
Turning to oil and gas, the possibility of a farm out could breathe new life into Chariot Oil & Gas (LON:CHAR) shares, according to City broker Northland Capital.
Analyst Andrew McGeary says today's results did not reveal any surprises.
The statement, for the twelve months to December 31 2012, reflected on a tough period for Chariot in which hotly anticipated drilling in Namibia proved unsuccessful.
Queuing technology specialist Lo-Q (LON:LOQ) has revealed Accesso, its recently acquired US ticketing group, has struck a deal with a “major” North American membership club.
The four-year contract will see Accesso, which was snapped up by Lo-Q for £13.7mln at the end of last year, exclusively manage the client’s ticketing.
Elsewhere, eye-catching top line growth fed through to a sharp reduction in losses in 2012 at drugs developer Oxford Pharmascience (LON:OXP).
Results for the year were ahead of expectations, with revenue up 65% to £466,000 from £282,000 the year before, thanks in large part to strong sales in Brazil from one of the group’s OXPchew technology partners, Aché Laboratórios, and the generation of licensing and development income.
In other news, African Medical Investments (LON:AMEI) has agreed a US$1.5mln convertible loan by with its major shareholder Harbinger Capital.
The African hospital operator said the loan notes are unsecured, carry a 10% per annum coupon and convert into equity at 0.3p per share.
Elsewhere, the first hotel to be operated under the franchise agreement between Lonrho (LON:LONR) and Sir Stelios Haji-Ioannou's easyGroup will open in Johannesburg on 26 March.
Located in De Korte Street, the 'easyHotel by Lonrho', Johannesburg, will have 60 bedrooms across seven floors.