A busy Friday for small-cap corporate activity was dominated by a twin announcement from Creo Medical Group (AIM:CREO), which simultaneously launched a £5.5m fundraise and agreed to sell a 49% stake in its core medical business, sending the shares up more than a quarter. Elsewhere, EnQuest (LSE:ENQ) steadied investor nerves with a production guidance reaffirmation, Arkle Resources (AIM:ARK) accelerated a uranium drilling programme in Namibia, and Gemfields (AIM:GEM) delivered a solid emerald auction result despite softer average pricing.
Creo Medical raises £5.5m and sells 49% stake in medical unit
Creo Medical Group (AIM:CREO) unveiled two significant transactions simultaneously, with the shares surging 26.81% to 14.425p. The company is raising £5.5m through a placing to fund investment in its Bipolar product range ahead of a planned 2027 commercial launch, providing the capital runway to bring the technology to market. The fundraise signals renewed confidence in the group's core development pipeline.
Alongside the placing, Creo announced that a 49% stake in its Creo Medical (AIM:CREO) subsidiary is being acquired by the unit's chief executive, on terms that set an indicative enterprise value in line with the business's carrying value. The partial buyout restructures the subsidiary's ownership without triggering a write-down, and keeps the majority interest, and therefore consolidation, within the listed group.
EnQuest reaffirms production guidance after operational recovery
EnQuest (AIM:ENQ) moved to reassure the market by affirming its full-year production guidance following a period of operational recovery, with the shares edging up 1.34% to 19.335p. Chief executive Amjad Bseisu struck an upbeat tone, pointing to both organic and transactional opportunities ahead. The update positions the company as having stabilised its operations and regained momentum heading into the second half of the year.
Arkle Resources accelerates uranium drilling in Namibia
Arkle Resources (AIM:ARK) advanced sharply, rising 12.31% to 0.73p, after Phase 1 geophysics across its three northern Erongo licences in Namibia successfully defined uranium targets. The company has moved quickly to capitalise, accelerating a fully funded c.4,000m RC drilling programme. The geophysical work de-risks the drill targets and the fully funded status removes near-term financing uncertainty for the campaign.
Catenai extends Klarian loan repayment with 3% monthly charge
Catenai (AIM:CTAI) disclosed that Klarian will repay £699,160 owed under a convertible loan note by 1 July, under an extension that carries an additional 3% per month on the outstanding balance. The arrangement provides a short runway for repayment while compensating Catenai for the delay through the monthly fee. The shares slipped 1.11% to 0.267p.
Rift Helium welcomes Tanzania move to classify helium as strategic mineral
Rift Helium (AIM:RIFT), whose shares were flat at 8.65p, welcomed Tanzania's plan to add helium to its list of strategic minerals, a policy shift the company described as reinforcing confidence in the country's commitment to responsible helium resource development. Direct engagement with government ministries and senior officials underpinned that assessment. The regulatory upgrade, if enacted, would strengthen the framework under which Rift Helium operates in-country.
Tekcapital launches geothermal AI venture Vesari
Tekcapital (AIM:TEK) took a 51% stake in a newly formed portfolio company, Vesari, which aims to co-locate AI compute capacity directly with geothermal power generation, connecting infrastructure via low-earth-orbit satellites to deliver 24/7 carbon-free compute. The behind-the-meter model is designed to bypass grid constraints while eliminating carbon intensity from AI workloads. Tekcapital shares dipped 2.44% to 6.0p on the day.
Atome Energy names Sungrow Hydrogen as electrolyser supplier for Villeta
Atome Energy (AIM:ATOM) selected Sungrow Hydrogen to supply 110MW of alkaline electrolysers for its Villeta low-carbon fertiliser project in Paraguay, which targets 260,000 tonnes per year of output. The supplier appointment is a key project milestone, locking in the core electrolyser technology for what would be one of the larger green hydrogen-to-fertiliser projects in South America. The shares rose 3.33% to 62.0p.
Zenith Energy monetises drilling rig for US$4.3m
Zenith Energy (AIM:ZEN) agreed to sell its ZEN-260 drilling rig for approximately US$4.3m, classifying the asset as non-core and directing the proceeds towards its Italian solar development programme. The disposal converts an idle capital asset into development funding without requiring external financing. The shares edged up 0.81% to 6.25p.
Gemfields' Kagem auction banks US$26.8m with near-full sell-through
Gemfields (AIM:GEM) reported that its latest Kagem emerald auction generated US$26.8m, with 36 of 37 lots sold, a near-complete sell-through that demonstrated sustained demand for higher-quality stones even as average per-carat pricing softened. The result underlines the relative resilience of top-tier emerald values within a mixed broader gemstone market. The shares gained 5.88% to 4.5p.
Mobico contests WMATA contract termination in US court
Mobico Group (LSE:MCG) confirmed that its US subsidiary has had its Washington Metropolitan Area Transit Authority paratransit contract terminated, and the group is now challenging the outcome through US legal proceedings. The loss of the WMATA contract represents a setback for the group's North American operations, though the decision to contest the termination keeps open the possibility of reinstatement or compensation. The shares were broadly flat, slipping 0.42% to 21.031p.
Caledonia Mining refiles Bilboes technical report with qualified authors
Caledonia Mining (AIM:CMCL) refiled its NI 43-101 technical report for the Bilboes gold mine after replacing the original report authors with individuals who meet the Canadian standard's definition of a qualified person. The updated report was filed on SEDAR+ and resolves a compliance issue with the prior submission. The shares fell 2.48% to 1701.8p.
