Small Talk: Eredene Capital

THE LATEST cash shells are tacking to the prevailing wind, as AIM tries to discourage the spivvier outfits. Alastair King, above, chief executive of Eredene Capital, which starts trading on Thursday, has raised pounds 4m at 25p per share - pounds 1m more than AIM's proposed minimum - and got some institutional investors on board. He is looking for a pounds 30m to pounds 40m acquisition, probably in the mining sector, and hopes to repeat the soaraway success of his last vehicle, Galahad Capital, which is now Galahad Gold.

Photograph: Adrian Pope