A busy session for small-cap newsflow saw Sound Energy crystallise its Moroccan gas asset in a US$57m deal that sent the shares sharply lower as the market weighed a post-disposal future, while Velocity Composites (LSE:VEL) reassured investors on full-year expectations despite a softer first half, and a clutch of exploration names, Bradda Head Lithium (LSE:BHL), Anglesey Mining (AIM:AYM) and Kazera Global (AIM:KZG), drove notable gains on operational and corporate progress.
Sound Energy exits Tendrara in $57m Managem sale
Sound Energy (AIM:SOU) agreed to sell its remaining stake in the Tendrara gas concession to Managem for US$57m, a transaction the board described as transformational, one that leaves the company debt-free and positions it to redirect capital toward energy transition opportunities. The deal marks a clean exit from Sound's core Moroccan gas position, which has been the defining asset of the business for several years. Despite the strategic rationale, the shares fell 36.38% to 2.99p, reflecting market uncertainty about what the company becomes once the proceeds are deployed.
Velocity Composites reiterates full-year guidance after H1 EBITDA progress
Velocity Composites (AIM:VEL) maintained its full-year expectations after delivering a third consecutive half of positive adjusted EBITDA, even as first-half revenues declined. Chief Executive Jon Bridges said the period saw further balance sheet strengthening alongside the earnings progress. The combination of reiterated guidance and continued profitability momentum pushed the shares up 12.08% to 14.85p.
Bradda Head secures Whistlejacket drilling permit ahead of 2026 campaign
Bradda Head Lithium (AIM:BHL) secured a drilling permit for its Whistlejacket lithium project in Arizona, clearing a key regulatory hurdle ahead of its planned 2026 exploration campaign. Executive Chair Ian Stalker said the approval supports rapid advancement of the company's Arizona lithium portfolio. The news lifted the shares 29.82% to 3.7p.
Tern extends Talking Medicines funding via loan note
Tern (AIM:TERN) provided further capital to portfolio company Talking Medicines through a new loan note arrangement, with CEO Jane McCracken citing the firm's continued growth trajectory as the rationale for the additional investment. The announcement drove the shares up 32.78% to 1.195p, making it one of the session's sharpest movers.
Anglesey Mining names new CEO as magnetic survey flags VMS extensions
Anglesey Mining (AIM:AYM) appointed Andrew Fulton as Chief Executive Officer while simultaneously reporting encouraging results from an initial drone aero-magnetic survey at its 100%-owned Parys Mountain project in Wales. The survey identified anomalies consistent with extensions of the volcanogenic massive sulphide mineralisation at the site. Net debt stood at about £100,000. The shares rose 7.32% to 4.4p.
Kazera's Whale Head signs 50/50 production-sharing deal with REMI
Kazera Global (AIM:KZG) announced that its subsidiary Whale Head Minerals had signed a binding 50/50 production-sharing agreement with Rare Earth Minerals International to deploy a processing plant and share revenues at the Walviskop heavy mineral sands project in South Africa. The structure reduces Kazera's near-term capital requirements while maintaining equal economic participation. The shares jumped 20.0% to 1.23p.
Frontier IP portfolio company Dekiln signs MoU with Johnson Tiles
Frontier IP Group (AIM:FIPP) saw its portfolio company Dekiln, in which it holds a 24.8% stake, sign a non-binding Memorandum of Understanding with Johnson Tiles to explore scaling, manufacturing and commercialising its kiln-free tile technology. The partnership, if formalised, would represent a significant route to market for the low-carbon ceramics process. Frontier IP shares fell 9.09% to 15.0p on the day despite the portfolio news.
Anglo Asian returns to profit as FY2025 revenue hits $122.8m
Anglo Asian Mining (AIM:AAZ) reported full-year 2025 revenue of $122.8m and a return to profit before tax of $25.8m, while maintaining its 2026 production and cost guidance unchanged. The results reflect a materially improved operating environment at its Azerbaijani assets. The shares eased 1.11% to 308.55p.
SEEEN lands five-year Bradford Bulls partnership for Century Club platform
Seeen (AIM:SEEN) signed a five-year principal partnership with Bradford Bulls rugby league club, deploying its Century Club Smart Video solution to build a premium interactive archive around the club's top 100 historical moments. The deal extends Seeen (AIM:SEEN)'s sports content strategy into a new club relationship. The shares were flat at 4.5p.
PipeHawk clears National Security Act review on Utsi Electronics sale
PipeHawk (AIM:PIP) received confirmation from the Cabinet Office that it will not take further action under the National Security and Investment Act in relation to the proposed disposal of Utsi Electronics, effectively removing the last regulatory obstacle to the transaction. The clearance lifted the shares 20.0% to 3.0p.
Gem Resources clarifies no decision taken on London listing cancellation
Gem Resources (AIM:GEMR) issued a statement confirming that the board had taken no decision to cancel the company's listing or seek cancellation of its admission to trading, apparently addressing market speculation on the subject. The clarification pushed the shares up 17.65% to 0.5p.
Union Jack Oil pivots toward USA after loss and impairment charges
Union Jack Oil (AIM:UJO) reported a loss for the period, weighed by impairments and lower revenues, while Executive Chairman David Bramhill signalled a strategic reorientation toward US operations as the primary growth driver going forward. The shares fell 15.79% to 4.0p.
CRISM Therapeutics raises £2.5m for Phase 2 glioblastoma trial
Crism Therapeutics (AIM:CRTX) completed an oversubscribed placing raising £2.5m to fund its Phase 2 irinotecan-ChemoSeed glioblastoma trial and support pursuit of grant funding. Alongside the institutional raise, the company launched a retail offer to raise up to a further £100,000. The shares slipped 5.65% to 10.85p.
GEO Exploration begins 2026 Gorge programme with LiDAR complete
GEO Exploration (AIM:GEO) commenced its 2026 work programme at the Gorge Project in Western Australia, completing a high-resolution LiDAR and aerial photography survey ahead of schedule. An airborne magnetic and radiometric survey is now under way, designed to focus the maiden drilling campaign. The shares edged down 3.03% to 0.08p.
EnergyPathways adds Chief Scientific Adviser to advance MESH project
EnergyPathways (AIM:EPP) appointed Martyn Millwood Hargrave as Chief Scientific Adviser to the CEO and board, strengthening its technical, strategic and policy capability as it progresses the MESH energy storage project. The shares dipped 3.23% to 9.0p.
Panther Metals drills Awkward Conduit target for nickel and copper
Panther Metals (AIM:PALM) began a discovery-focused diamond drill programme at the Awkward Conduit Target within its Obonga Project, sinking a single near-vertical hole planned to about 400 metres to test a magma-conduit model for nickel, copper and platinum-group elements. The shares rose 4.44% to 135.78p.
EARNZ posts £11.8m revenue and break-even EBITDA after acquisition wave
EARNZ reported revenue of £11.8m for the year ended 31 December 2025, up sharply from £2.6m in 2024, as a series of acquisitions transformed the scale of the business. Adjusted EBITDA came in at break-even, reflecting the integration costs and investment associated with the rapid expansion.
Georgina Energy starts pre-drill civil works at Hussar after rig contract
Georgina Energy (AIM:GEX) began civil-engineering pre-drill works at the Hussar prospect in EP513 following the execution of a contract for an Ensign 970 drill rig. The well targets subsalt reservoirs carrying independently assessed 2U recoverable resources. The shares were unchanged at 6.2p.
MTI Wireless Edge books record $9m-plus of Q2 defence orders
MTI Wireless Edge (AIM:MWE) disclosed that it received a record level of defence-related orders worth just over $9m in Q2, with the majority expected to be fulfilled within the current year. CEO Moni Borovitz described the intake as a record for the defence segment. The shares gained 4.59% to 63.8p.
Calnex Solutions delivers 73% profit rise on 19% revenue growth
Calnex Solutions (AIM:CLX) reported a 73% rise in pre-tax profit alongside 19% revenue growth for the year, with CEO Tommy Cook citing double-digit revenue expansion, improved profitability and material progress on the company's diversification strategy. The shares advanced 4.44% to 75.2p.
Diaceutics returns to profit as adjusted EBITDA surges 80%
Diaceutics (AIM:DXRX) swung back to profit, with adjusted EBITDA rising 80% as its diagnostic intelligence platform continued to gain traction with pharmaceutical customers. CEO Ryan Keeling attributed the performance to the resilience of the platform model and growing demand for patient identification and therapy adoption analytics. The shares fell 9.9% to 150.02p.
Arrow Exploration brings Icaco-1 onstream at 628 BOPD
Arrow Exploration (AIM:AXL) brought the Icaco-1 well onstream at about 628 barrels of oil per day gross at the Tapir Block in Colombia. CEO Marshall Abbott described the result as a material discovery in the southeastern area of the block. The shares eased 2.13% to 23.0p.
Helix Exploration re-enters Inez #1 to target Souris River helium
Helix Exploration (AIM:HEX) rigged up and commenced re-entry at the Inez #1 well at its Rudyard helium project in Montana, targeting the Souris River interval for immediate production. The shares dipped 2.44% to 40.0p.
KEFI replaces short-term Tulu Kapi funding with long-term facility
KEFI Gold and Copper replaced US$15m of short-term working capital funding with an equivalent amount of long-term, subsidiary-level financing at the Tulu Kapi gold project in Ethiopia, which the company said remains ahead of schedule. The refinancing reduces near-term repayment pressure while maintaining the project's development momentum.
Nostrum Oil & Gas grows Q1 revenue 9.3% but net debt rises
Nostrum Oil & Gas (AIM:NOG) reported a 9.3% rise in Q1 2026 revenue to US$32.8m, with unrestricted cash climbing to US$151.3m. Net debt increased over the period, tempering the top-line progress. CEO Viktor Gladun described it as a solid start to the year. The shares fell 8.54% to 3.201p.
Harworth adds Barclays to £275m revolving credit facility
Harworth Group (AIM:HWG) expanded its £275m revolving credit facility syndicate with the addition of Barclays, with CFO Kitty Patmore saying the move reflects confidence in the company's strategy and enhances flexibility to accelerate new site development. The shares edged up 1.14% to 126.62p.
Kendrick Resources raises £1.76m for Bonya rare earth drilling
Kendrick Resources (AIM:KEN) raised £1.76m through subscriptions at 7p per share to fund drilling at its Bonya Rare Earth project, taking the enlarged share capital to 402.06m shares. The shares rose 7.86% to 7.55p on the back of the fundraise.
Ariana Resources lifts Dokwe ore reserves 42% in revised PFS
Ariana Resources (AIM:AAU) published a revised pre-feasibility study for its 100%-owned Dokwe Gold Project in Zimbabwe, lifting Ore Reserves by 42%, modelling a 2.5Mtpa processing plant and projecting a one
