Resource stories dominated the small-cap tape, with helium, zinc and gold explorers all reporting hard operational progress, while corporate action ran hot elsewhere, a £583m cash bid for Harworth Group, a going-private move at Devolver Digital, and a blowout net asset value revision at Tekcapital. Profit upgrades were the connective tissue of the day: Corero Network Security, Pz Cussons and YouGov all delivered results ahead of where the market had priced them, while Wellnex Life's disposal of its Pain Away brand sent the stock up sharply on a genuine balance-sheet event rather than sentiment.
Helix moves to continuous helium output at Rudyard and Keyes
Helix Exploration (AIM:HEX), the AIM and OTCQB-listed US helium production and liquefaction company, said its Rudyard facility in Montana has now moved into continuous trailer filling, with helium being tolled for revenue through the newly acquired Keyes Helium Complex in Oklahoma. The shares rose 4.95% to 25.45p as the update confirmed the company's transition from pilot operations to sustained commercial output across two separate revenue centres.
Rudyard began commercial operations in July with its first jumbo tube trailer filling, and Helix now rotates a mix of customer-supplied and leased trailers to keep supply uninterrupted, with one trailer departing as another arrives to be filled. All wells on the pipeline system are running at high pressure, with additional wells awaiting approval from the Montana Board of Oil and Gas. At Keyes, acquired in mid-July and one of only six operational helium liquefaction facilities in the United States, Helix's own operations team is now filling trailers weekly under an ongoing tolling programme, with capacity earmarked for full tolling of the company's future well output, third-party supply, and crude helium drawn from the former US Bureau of Land Management reserve.
"With a liquefaction facility now operating under Helix's ownership, the business occupies a uniquely integrated position in the US helium sector that spans the value chain, from reserves in the ground, producing wells, owned drilling equipment for field expansion, and liquefaction infrastructure," said Keith Spickelmier, Chief Executive Officer, Helix Exploration plc.
The significance here is structural rather than incremental: Helix now controls production, processing and liquefaction simultaneously, a combination chief executive Bo Sears says few independents have ever assembled. That integration matters most at a moment when helium supply is tightening globally, it insulates Helix from reliance on third-party liquefaction capacity, converts stranded gas into billable trailer loads faster, and gives the company two independent, geographically separated routes to cash generation rather than one. The promised update on Montana field development will be the next test of whether this operational momentum can scale.
Tekcapital shares surge after Vesari stake upgrades asset valuation
Tekcapital (LSE:TEK) shares climbed 16.46% to 4.6p after the AIM-listed intellectual property investment group said net asset value per share rose to $0.78 from $0.27, with its portfolio valued at $191.4m, up from $46.9m. Profit after tax reached $144.8m, against just $5.4m a year earlier, driven by portfolio returns and services revenue of $145.5m versus $6.1m in H1 2025, while operating expenses fell 7.3% to $0.69m.
The bulk of the gain traces to Vesari, in which Tekcapital was granted a 51% equity stake for no cash consideration in May; Vesari holds eleven non-provisional US patents. Chairman Dr Clifford M. Gross said the uplift reflects portfolio appreciation rather than cash returns, "as is to be expected with early-stage technology companies," though he stressed the valuation is an "independently assessed, IFRS 13-compliant measure."
The scale of the revaluation, NAV per share nearly tripling, reframes Tekcapital's investment case from a modestly-capitalised IP incubator to a company whose book value now materially exceeds its market capitalisation implied by recent trading levels, putting pressure on the market to catch up or challenge the marks.
Sunrise Resources reports high-grade zinc results at Reese Ridge
Sunrise Resources (AIM:SRES) reported further high-grade zinc, lead and silver assay results from its Reese Ridge project in Nevada, with shares up 7.14% to 0.015p. Geological mapping and sampling have strengthened the AIM-listed explorer's confidence in the project's potential and are feeding into future drill targeting.
Narrow vein samples at the Ridge Top Prospect graded up to 9.9% zinc, more than 20% lead and 192g/t silver, while mineralisation was also confirmed in surrounding rock, a 3.3-metre footwall chip sample graded 5.8% zinc, 1.0% lead and 17g/t silver, and a hanging wall sample returned 4.8% zinc. Sunrise is now building a three-dimensional geological model integrating the mapping with historical geophysical surveys to prioritise drill targets.
"Our objective is not only to drill test the down-dip continuity of the high-grade surface mineralisation but also the large conductive geophysical anomaly at depth, which we believe could represent a large sulphide system," said Patrick Cheetham, Executive Chairman. The width and grade of surface mineralisation gives Sunrise a credible case for advancing toward a maiden drill programme, converting years of surface work into a defined subsurface target.
Corero swings to profit as H1 revenue jumps
Corero Network Security (AIM:CNS) said revenue rose 42% to $15.5m in the six months to 30 June, up from $10.9m a year earlier, as the DDoS protection specialist swung from an EBITDA loss to an expected $2.6m EBITDA profit, reversing a $1.4m loss in H1 2025. Shares jumped 18.79% to 9.8p on the release.
Order intake grew 14% to $14.3m, annualised recurring revenue rose 12% to $24.1m, and gross margin improved to 93% from 91%, with renewal rates on multi-year subscription contracts reaching 96%. Cash fell to $2.1m from $4m at end-2025, a shift the company attributed to customers increasingly buying subscription services rather than upfront products, prompting Corero to arrange a $2m overdraft facility.
"Our recent success in securing a notable contract with a prominent Tier-1 provider further validates our technology and sales strategies confident in delivering continued growth in H2," said Carl Herberger, Chief Executive. The profit swing validates the subscription pivot, but the cash drawdown and new overdraft facility underline that the transition still carries working-capital cost even as margins and retention improve.
Devolver Digital plans AIM exit and $5m tender offer
Devolver Digital (AIM:DEVO) will ask shareholders to approve a delisting from AIM alongside a capped tender offer to buy back shares at 16p each, funded up to $5m. Shares fell 43.75% to 9.0p as the market absorbed the scale of the discount to that buyback price implied by the plan's structure.
The indie games publisher cited a persistent gap between its operational progress and its public market valuation as the rationale for going private. The move follows a familiar pattern among small-cap games publishers frustrated by thin liquidity and depressed multiples, though the sharp share-price fall suggests the market had not fully priced in the delisting outcome ahead of the announcement.
Solvonis Therapeutics' stimulant use disorder candidate outperforms in early results
Solvonis Therapeutics (SVNS) shares rose 7.86% to 0.151p after early results for its SVN-015 candidate for stimulant use disorder showed a differentiated pharmacological profile versus earlier compounds tested in the same therapeutic area.
"These early results suggest that SVN-015 may have the potential to deliver the intended transporter pharmacology while avoiding some of the cardiac ion-channel liabilities associated with previous compounds in this area," said chief executive Anthony Tennyson. Avoiding cardiac ion-channel toxicity has historically been a key hurdle for stimulant-use-disorder drug candidates, so a clean early signal on that front is the single most important variable for whether SVN-015 progresses through further development.
Pathos Communications posts record July revenue
Pathos Communications (NEWS) shares rose 6.38% to 25.0p after the company reported record revenue for July, with management pushing back directly against recent share-price weakness.
"We continue to be focussed and disciplined in growing the business; we note the recent decline in share price and based on company trading and prospects know of no reason for it," said Omar Hamdi. That kind of explicit rebuttal from management, paired with a genuine trading record, gives the rebound some substance beyond a simple bounce.
Wellnex Life sells Pain Away brand for up to A$21.3m
Wellnex Life (WNX) shares more than doubled, up 138.46% to 7.75p, after the company agreed to sell its Pain Away brand for consideration of up to A$21.3m.
"This transaction represents an important step for Wellnex Life, strengthening the company's balance sheet and providing greater financial flexibility," said Interim Executive Chairman Eric Jiang. The disposal converts a single consumer brand into a meaningfully de-levered balance sheet, giving management room to redirect capital toward the rest of the portfolio.
Ingenta buys FirstAida AI tech in staged equity deal
Ingenta (ING) is acquiring an initial 24.9% stake in FirstAida, with an option on full ownership tied to revenue targets, funded entirely through shares. The stock rose 2.36% to 65.0p.
Structuring the deal in equity, staged against performance milestones, limits Ingenta's cash outlay and downside if FirstAida's AI technology fails to hit its revenue targets, while still giving the publishing technology group a path to full ownership if the bet pays off.
Jersey Oil & Gas wins Verbier licence extension
Jersey Oil & Gas (JOG) secured an extension to its Verbier licence, with shares up 4.57% to 115.03p.
"There is an exciting opportunity to unlock the resources across the area through the development of a Buchan-led production hub," chief executive Andrew Benitz said. The extension buys Jersey Oil & Gas more time to pursue a hub development concept that would tie multiple discoveries into shared infrastructure, a route that typically improves project economics versus standalone developments.
Doosan wins overseas fuel cell export order using Ceres tech
Ceres Power Holdings (CWR) rose 3.95% to 412.056p after licensee Doosan Fuel Cell signed a roughly £60m contract to supply Ceres-licensed solid oxide fuel cell stacks to Germany's Reverion, marking Doosan's first export of the technology.
The order validates Ceres's licensing model beyond its home markets, generating royalty economics for Ceres without requiring it to fund manufacturing or take project risk directly, and opens a template for further export wins through its partner network.
Sundae Bar integrates AI platform, rebrands as Sundae Bar AI
Sundae Bar (SBAR), trading at 4.2p, has rebranded as Sundae Bar AI following the integration of a new AI platform into its marketplace offering.
"We've gone from a beta marketplace to a platform with paying customers and more than 500 AI Skills and Agents, all sitting behind a single simple interface," said chief executive Jill Kenney. The shift from beta to a paying-customer platform with over 500 packaged AI capabilities marks a genuine commercial inflection rather than a cosmetic rename.
Nativo benchmarks La Patona plant against Peru's gold processors
Nativo Resources (NTVO) shares rose 2.38% to 0.215p after the company benchmarked its La Patona processing plant against established Peruvian gold processors.
"The market is real, the benchmarks are robust, and the governance standard has been set," said chief executive Stephen Birrell. Benchmarking against incumbent processors gives Nativo an external reference point to support its plant's commercial case as it seeks to scale throughput.
Stockbroker sees chance Afentra can more than double in value on Angola wells
Afentra (AET) slipped 0.68% to 58.6p even as Shore Capital Markets reiterated its Buy rating and 147p price target, arguing the Angolan oil producer's shares are cheap ahead of first new-well results on Block 3/05.
A target more than double the current share price signals the broker sees the market underappreciating potential upside from the upcoming well results, setting up a binary catalyst for the stock in the near term.
Time Out Group lands Piccadilly Circus site for first London Market
Time Out Group (TMO) shares rose 4.0% to 6.5p after securing a Piccadilly Circus site for its first Time Out Market venue in London.
"Bringing the globally recognised Time Out Market concept home to London is both a celebration of where we began and a statement of where we are going," said Chris Ohlund, chief executive. Landing a flagship central London location for the brand's food-hall concept extends a format that has already proven itself commercially in other cities.
Avation appoints Tony Romano as Chief Commercial Officer
Avation (AVAP) shares edged up 1.29% to 137.25p after the aircraft leasing company hired Tony Romano as Chief Commercial Officer to lead global airline marketing.
The appointment supports Avation's push to place its ATR72-600 orderbook through 2034, giving the leasing company a dedicated commercial lead as it works through a multi-year delivery schedule.
Kromek hits third Siemens Healthineers milestone, banks $2.5m
Kromek Group (KMK) shares rose 4.37% to 8.266p after the detection technology group hit its third milestone under its enablement agreement with Siemens Healthineers, banking $2.5m.
Kromek has now received $32.5m under the agreement, with $5m remaining on final delivery, leaving the partnership close to fully monetised and reducing the remaining execution risk on that revenue stream.
Pensana says $150m of Cascade Natural Resources funding still outstanding
Pensana (PRE) shares rose 9.64% to 73.9p after confirming that $150m of previously agreed Cascade Natural Resources funding remains outstanding.
The update comes as Qatar's growing strategic focus on critical minerals could open an expansion of the previously proposed investment beyond the original $165m, giving Pensana a potential path to a larger funding package than initially structured.
Frontier Developments names new CMO
Frontier Developments (FDEV) shares rose 2.93% to 438.5p after the Cambridge-based games studio hired the former SEGA Europe marketing chief as its new Chief Marketing Officer.
The appointment strengthens Frontier's publishing and commercial teams ahead of a release-heavy financial year 2027, signalling the studio is building out marketing capacity in advance of a busier release slate.
Stv Group's national radio station has outperformed expectations
Stv Group (STVG), trading at 106.0p, said its national radio station has significantly outperformed launch expectations.
"To attract around 139,000 weekly listeners and deliver 1.3 million hours of listening in our first months on air is an incredible result," said Graham Bryce, managing director of STV Radio. Early audience traction of that scale gives STV a stronger negotiating position with advertisers as the station moves from launch phase into commercial scale-up.
Galantas Gold clears key permits for Andacollo restart
Galantas Gold (GAL) shares rose 2.22% to 23.0p after clearing key permits needed to restart its Andacollo project.
"These approvals represent a major milestone for the project," said Robert Sedgemore, senior vice president of operations. Permitting has historically been the binding constraint on restart timelines for dormant mine assets, so clearing this hurdle moves Andacollo meaningfully closer to a production decision.
Thor Explorations extends high-grade gold zone beneath Segilola pit
Thor Explorations (THX) shares rose 3.94% to 58.0p after new drill results extended the high-grade gold zone beneath its Segilola pit in Nigeria.
The mineralisation remains open at depth, feeding into an underground resource update due by year-end, which could support a case for extending the mine's life beyond its current open-pit plan.
