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sat at the top of the small-cap table, surging 111.1 per cent after receiving what the pharmaceutical company described as a “milestone payment” of $10m from Pacira Pharmaceuticals, the company that bought its injectables business in 2007.
Borders & Southern Petroleum
also surged as retail investors, picking up on rumours that Borders had struck oil at its first well, drove the stock up 87.1 per cent.
Although people familiar with the Falklands-focused company said that there was nothing to report and that preliminary results from the well should be available shortly, rumours that contractors were talking about a potential discovery following a crew change continued to circulate.
Fellow Falklands explorer Falkland Oil & Gas
benefited from Borders’ rumour-fuelled rise, gaining 36.9 per cent over the week.
On the losing end of the small-caps spectrum sat Asia Digital Holdings
which lost 52.5 per cent after selling another of its principle subsidiaries, DGM Asia Pacific, due to a lack of funding available for investment.
In early April ADH shares fell 42.4 per cent after the company agreed to sell DGM India Internet, and it says it intends to close its Chinese operation in the near future. ADH has lost over 70 per cent since the start of the month.
Another oil explorer, Bahamas Petroleum
, was exposed to the darker side of the rumour-mill as it tumbled 36.2 per cent on local reports that its licence may not be renewed by the Bahamian government.