Welcome back to the Small Cap Wrap, which returns after the Summer break… hope it was a good one . August was a pretty turbulent month in the financial markets, and September continues with the theme. Having pushed up to 5,430 points mid-week last week, the FTSE 100 dropped back down to 5,120 points at the end of the week, with the AIM All share closing at 770 points. European debt burdens have continued to rock the markets this week, with a fear that nations such as Spain and Italy may be forced to follow Greece in asking the markets for lower rates of interest on its government bonds. The problems are causing widespread debate amongst commentators leading to questions over whether there should be a change in the nature of the Eurozone, causing further disruption. The week ahead sees BoE and ECB interest rate announcements together with industrial and manufacturing output figures for the UK.

African Medical Investments (AMEI 5.62p / £14.65m) 

African Medical Investments, the AIM listed operator in the African healthcare sector, last week announced its preliminary results for the year ended 28 February 2011 and the appointment of Peter Botha as CEO. The first half of the year proved challenging with the departure of the company’s previous CEO following the discovery of financial irregularities, but the Board believes the Company is now well positioned to make progress. The Company is operating in a rapidly growing market where the demand for quality private health care from a combination of the emerging middle classes, overseas businesses, expatriates and tourists is strengthening. The Company currently has modern hospital facilities in Dar es Salaam (Tanzania), Maputo (Mozambique) and Harare (Zimbabwe) together with an air ambulance service. Group turnover for the year more than doubled to $5.4m (2010: $2.1m) but with an operating loss of $18.7m including the one off cost of the irregularities.    

Amerisur (LON:AMER) Resources (AMER 16.62p / £152.08m) 

Updating on its Paraguay operations, Amerisur announced that senior executives from the Company, accompanied by Professor Victor Graterol, held a detailed briefing with the Paraguayan Minister and Vice Minister of Works and Communications, along with the Director of Hydrocarbons to provide an update on the Company’s recent Aeromagnetic and Gravity survey. Professor Graterol, a consultant to the Company, is a world expert on geophysical analysis and gravity and has been examining sedimentary…

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