A corporate governance shock at Union Jack Oil (AIM:UJO) and a boardroom departure at Galantas Gold (AIM:GAL) gave Wednesday's small-cap session a shareholder-activism edge. Elsewhere, fundraisings, contract wins and drilling updates kept the broader market busy across mining, energy, tech and healthcare.
Quadrise launches £2.4m raise to fund marine fuel trials
Quadrise (AIM:QED) launched a fundraise of up to £2.4m through a placing, subscription and retail offer, targeting industrial-scale trials of its marine fuel technology and balance sheet reinforcement ahead of targeted commercial revenues. The dilutive nature of the raise weighed heavily on the stock, which fell 27.74% to 0.99p. The capital is intended to bridge the company through to the commercial phase of its fuel programme.
Shareholders requisition meeting to remove Union Jack Oil board
Union Jack Oil (AIM:UJO) disclosed a shareholder requisition notice demanding the removal of all three sitting directors, John Americanos, Joseph O'Farrell and David Bramhill, and their replacement with two new appointees, Zac Phillips and Craig Howie. The move represents a full boardroom coup attempt and sent shares down 3.45% to 3.5p. A general meeting will now be required to put the resolutions to shareholders.
Galantas Gold chair resigns with immediate effect for private equity role
Galantas Gold (AIM:GAL) announced the immediate resignation of board chair Róisín Magee, who is departing to take up a private equity position. Director David Cather has been named interim chair while the board considers a permanent successor, with Mario Stifano remaining among the directors. The sudden departure knocked shares 12.0% lower to 22.0p.
Itaconix extends Bonals Technologies partnership to December 2028
Itaconix (AIM:ITX) extended its tablet detergent development collaboration with Bonals Technologies by approximately two years to December 2028, with the partnership now targeting commercial rollout across North America. The extension signals continued confidence in the polymer specialist's formulation technology, and shares responded with a gain of 5.07% to 114.0p.
Georgina Energy completes pre-drill site works ahead of September spud
Georgina Energy (AIM:GEX) confirmed that contractors have completed clearing, grading and airstrip construction at the Hussar EP513 site in Western Australia, keeping a September drilling start on schedule. The operational update left shares marginally lower, down 1.15% to 5.14p, with investor attention now turning to the upcoming drill programme.
Lexington Gold commissions JORC conversion for 62m-ounce Kroonstad estimate
Lexington Gold (AIM:LEX) appointed South African geological consultancy Shango Solutions to convert a non-compliant resource estimate of up to 62.41m ounces at its Kroonstad project into a JORC-compliant Exploration Target. The commissioning of a recognised specialist to formalise the estimate represents a material step in de-risking the asset, with shares edging up 2.66% to 3.285p.
EDX Medical wins UK molecular profiling contract with Astron Health
EDX Medical Group (AIM:EDX) secured a UK service agreement with global oncology firm Astron Health to supply two Caris-branded tumour profiling tests under a new commercial arrangement. The contract win, led by Dr Padman Vamadevan and Professor Sir Chris Evans, pushed shares up 8.48% to 8.95p, marking a meaningful step in the group's commercial build-out in molecular diagnostics.
Fulcrum Metals banks milestone payment as Tully Gold clears 265,000 ounces
Fulcrum Metals (AIM:FMET) received an additional consideration payment worth over CAD$500,000 after an updated resource estimate at the Tully Gold Project in Ontario breached a contractual threshold, with the deposit now standing at 265,000 ounces. The milestone payment activates automatically under the terms of the original disposal agreement, providing a non-dilutive cash inflow. Shares were unchanged at 7.5p.
IntelliAM AI secures £200,000 in Q1 orders across six new customers
IntelliAM AI (AIM:INT) reported £200,000 in first-quarter purchase orders spanning six customers, including new wins from Chivas Brothers, Yeo Valley and Valeo Confectionery, alongside platform conversions from Edinburgh Airport, Tennent's and Scottish Shellfish. The breadth of the customer base, spanning food and drink, aviation and aquaculture, illustrated the cross-sector applicability of the group's AI predictive maintenance software. Shares were flat at 84.0p.
Great Southern Copper completes scout drilling at Especularita
Great Southern Copper (AIM:GSCU) finished its 17-hole reverse circulation drilling campaign at the Especularita prospect in Chile, its first systematic scout programme at the target. Assay results are expected within two to four weeks. Shares held at 3.0p as the market awaits the laboratory data.
Vulcan Two Group appoints Chief Pharmacy Officer to lead integration push
Vulcan Two Group (AIM:VUL) named Declan Lismore as Chief Pharmacy Officer, bringing in an industry veteran to oversee dispensing operations, compliance and regulatory relations as the ePharmacy consolidator works through the integration of three acquisitions completed earlier in 2026. The appointment adds senior pharmacy leadership at a critical operational juncture, with shares at 276.0p.
Ultimate Products trials first Beldray TV campaign with ITV matched spend
Ultimate Products (AIM:ULTP) launched a regional ITV television campaign for its Beldray floorcare brand, the first TV advertising push for the label. A matched-spend arrangement with ITV effectively doubles the media value behind the investment, limiting the net cost to the group. Shares slipped 3.98% to 44.6p on the day.
System1 Group flags H2 profit recovery and confident FY27 start
System1 Group (AIM:SYS1) held revenue close to £37m for the year to March 2026, with a pronounced second-half recovery pushing profit before tax to six times the first-half level. Management described the start to FY27 as confident, providing a degree of forward visibility for the marketing analytics platform. Shares eased 0.96% to 310.0p.
Caspian Sunrise spuds first deep well at Yelemes targeting 25-year licence
Caspian Sunrise (AIM:CASP) spudded Deep Well 707 at its Yelemes Deep structure in Kazakhstan, the first of three deep wells required under the terms of a 25-year production licence. The well targets the Lower Triassic reservoir, and completion of all three wells is a prerequisite for securing the long-term licence. Shares were at 1.9p.
Hamak Gold intercepts high-grade sulphide zone at Akoko South
Hamak Gold (AIM:HAMA) reported a drill intersection of 6.46 g/t gold over 4 metres, including 20 g/t over 1 metre, at the Akoko South prospect in Ghana, pointing to a deeper primary sulphide gold system beneath the shallow oxide zone. The result arrived as a resource estimate nears completion, adding geological significance to the upcoming estimate. Shares rose 8.31% to 0.704p.
Beowulf Mining raises £4.3m in Bacchus Capital-led strategic subscription
Beowulf Mining (AIM:BEM) secured a £4.3m financing round led by Bacchus Capital and affiliated entities, subject to Swedish regulatory approval and a shareholder vote expected later this month. The strategic nature of the subscription, led by a specialist natural resources financier, lifted shares 7.2% to 6.7p.
Avation places two ATR 72-600s with Finnair on six-year leases
Avation (AIM:AVAP) signed six-year lease agreements with Finnair for two ATR 72-600 turboprop aircraft, adding the Finnish carrier as a new customer. The placements commence mid-2026 following a debt restructuring by a previous lessee, demonstrating the group's ability to re-deploy assets efficiently. Shares edged up 0.34% to 135.959p.
Brave Bison revenue nearly doubles in H1 as MiniMBA drives outperformance
Brave Bison Group (AIM:BBSN) reported near-doubling of first-half revenue, with the MiniMBA education platform driving material outperformance against the prior year. Executive Chairman Oliver Green said the group expects further cash generation in the second half, absent additional acquisitions, a confident signal on the underlying business trajectory. Shares rose 2.61% to 93.888p.
Zentra Group pushes New Islington loan maturity to January 2027
Zentra Group Plc extended the maturity date on its secured development loan for the New Islington project in Manchester by six months to January 2027, providing additional runway to complete final design and procurement work at the residential development. The extension avoids a near-term refinancing event while the scheme progresses through its final pre-construction stages.
