Capricorn Energy (CNE): Genel increased its recommended cash offer for Capricorn
Capricorn and Genel agreed an increased recommended cash offer to acquire Capricorn's entire issued and to be issued ordinary share capital. Shareholders would receive US$5.74 in cash per share, valuing Capricorn at approximately US$436 million on a fully diluted basis, or £330 million. The Capricorn directors withdrew their recommendation of the DNO offer with immediate effect. Genel and Bidco continued to expect the Egyptian Condition to be satisfied on the expected timetable and the scheme to become effective during the fourth quarter of 2026.
Harworth (HWG): Recommended £631.7m cash offer raised to 187p per share
A recommended increased best and final cash offer for Harworth is pitched at 187 pence per share, valuing the entire issued and to be issued share capital at approximately £631.7 million. It also agreed to purchase 72,080,449 shares at 187 pence each.
United Utilities (UU.): Targets £2bn 2026/27 investment and £11.5bn across AMP8
United Utilities said it remained on track to deliver c.£2bn of capital investment in 2026/27 and c.£11.5bn across AMP8, supporting compound growth in its asset base of c.10%. The company said operational performance was in line with expectations and its AMP8 capital programme was progressing as planned. It also remained on track to access approximately £2.5bn through the annualised AMP8 re-opener mechanism. Financial framework and 2026/27 guidance remained unchanged, with regulatory returns targeted at 10-11% in AMP8.
Ferrexpo (FXPO): Revenue reached US$196 million in the first half
Ferrexpo reported first-half revenue of US$196 million, with sales of 1.5 million tonnes. Underlying EBITDA was negative US$4 million, reflecting lower production and sales volumes, constrained operating conditions, elevated energy and logistics costs and VAT refunds not being received.
Gemfields (GEM): Gemfields expects USD 73.5m first-half net loss
Gemfields said it was reasonably certain that its net loss after tax was USD 73.5 million for the six months ended 30 June 2026, compared with USD 20.5 million a year earlier. The expected loss was driven primarily by a non-cash impairment charge of USD 125.2 million in respect of MRM, after lower-than-expected premium ruby recoveries. The company said its priority for the rest of 2026 was to demonstrate that recent improvements at MRM could be sustained while maintaining financial discipline and flexibility.
MicroSalt (SALT): Retail offer seeks up to £100,000 at 14 pence a share
MicroSalt launched a retail offer to existing shareholders of up to 714,285 new ordinary shares at 14 pence each, seeking up to £100,000 before expenses. The subscription was significantly oversubscribed and conditionally raised approximately £1.3 million, while the director subscription was expected to raise a further approximately £140,000; full take-up would bring aggregate gross proceeds to approximately £1.5 million. The board was optimistic that Customer 3’s third product line would be received in the final quarter of 2026, significantly increasing monthly revenue and moving the group to cash-flow positive.
Robinson (RBN): £3.3m customer contract will not be renewed
Robinson said a significant customer contract generating approximately £3.3 million of annual revenue and £1.0 million of annual contribution to gross profit would not be renewed when it expires at the end of December 2026. The company said the loss would reduce FY2027 revenue and underlying operating profit by those amounts without offsetting actions. The board continues to expect 2026 underlying operating profit to be in line with market expectations and anticipates FY2027 profitability will be broadly in line with FY2026, excluding mitigations.
NEO Energy Metals (NEO): Raised £1.75 million through placing of new shares
Neo Energy Metals raised gross proceeds of £1.75 million through a placing of 269,230,769 new ordinary shares at 0.65 pence each. The company said the issue price represented an approximately 18.75% discount to the 0.8 pence closing mid-market price on 24 September 2026. Net proceeds will support its strategy and completion of the Section 11 consent process for the proposed acquisition of the New Beisa Node.
Brave Bison (BBSN): Letters of intent take potential System1 stake to 39.19%
Brave Bison said it had received letters of intent to accept its Fourth Offer for 1,438,980 System1 shares, representing approximately 11.34% of System1’s issued share capital. As at 3.00 p.m. on 24 September 2026, it had received valid acceptances for zero shares and was interested in 3,534,010 shares, or approximately 27.85%. In total, it owned or had letters of intent for 4,972,990 shares, representing approximately 39.19%.
Savannah Resources (SAV): Retail offer raises £2.19m
Savannah Resources raised £2,192,628 through a retail offer, issuing 39,865,966 new ordinary shares at 5.5 pence each. The offer closed at 5.00 p.m. on 24 September 2026.
Bango (BGO): ARR crossed $20m milestone, rising 31%
Bango said ARR crossed the $20m milestone, reaching $20.4m, up 31% year-on-year, driven primarily by expansion within its existing customer base. The company said trading remained in line with full-year market expectations.
Pensana (PRE): Tyranna to spend US$2.6m on Coola exploration farm-in
Pensana accepted a farm-in offer from ASX-listed Tyranna under which US$2.6 million will be spent over three years, with a view to diluting Pensana’s interest in the Coola project to 20%. The company expected the construction schedule to extend from 2028 to late 2028.
Strategic Minerals (SML): Redmoor study gives US$1.54bn base-case after-tax NPV
Strategic Minerals reported a US$1.54 billion base-case after-tax NPV for Redmoor in an updated economic sensitivity analysis, with a 40% IRR. The analysis was preliminary and based on a 100% Inferred Resource.
Helix Exploration (HEX): Helium sales arrangement extended through March 2027
Helix Exploration extended its spot sales arrangement with an industrial gases group through March 2027, committing 100% of available helium volumes from Rudyard to the customer. The company said agreed pricing was significantly above assumptions used in its pre-IPO model.
Safestay (SSTY): Revenue fell to £8.4m as first-half EBITDA declined
Safestay reported first-half revenue from continuing operations of £8.4 million, down from £9.4 million on a restated basis, while Adjusted EBITDA fell to £0.6 million from £2.1 million. The trading environment remained challenging, with forward bookings lower year-on-year.
Ondo InsurTech (ONDO): Nationwide executed order for 35,000 LeakBots
Ondo InsurTech confirmed Nationwide executed an order for 35,000 LeakBots in the United States, the largest order in their partnership so far. Active LeakBots reached 172,862 at the end of August 2026, up 34.8% on August 2025.
Tandem (TND): Revenue rose 6.7% to £11.9m in first half
Tandem said group revenue increased 6.7% to £11.9 million in the first half. Trading for the full year remained in line with market expectations.
Ormonde Mining (ORM): Golden Rose trend returned gold grades of up to 91.3g/t
Ormonde Mining identified a previously unrecognised mineralised trend at Golden Rose extending at least 3,000m along strike and up to 600m wide, with outcrop and float grab samples returning grades of up to 91.3g/t gold. Post-period end, it identified two new gold-in-soil anomalies near Wood Lake.
Aminex (AEX): Loss widened to US$2.71 million as revised work programme targeted December gas
Aminex reported a US$2.71 million loss for the period; its revised work programme anticipated first gas from Ntorya-2 in December 2026.
Ajax Resources (AJAX): Option to acquire Nueva Celti project extended to 30 October 2026
Ajax extended its option to acquire 100% of Western Metallica’s Spanish subsidiary, owner of the Nueva Celti Copper Project, from the 27 July 2026 agreement to 30 October 2026.
Avacta (AVCT): AVA6103 trial data showed payload dose 50% above conventional exatecan MTD
Avacta reported AVA6103 was tolerated through three dose levels at a payload dose approximately 50% above conventional exatecan’s maximum tolerated dose; initial efficacy data are expected in H1 2027.
Tharisa (THS): Bond priced below principal to fund Karo project
Tharisa priced a bond at 98% of principal, with proceeds earmarked for completing its Karo Platinum Project in Zimbabwe.
Great Western Mining (GWMO): Raised £3.25 million to fund accelerated exploration
Great Western Mining raised £3.25 million through a February placing to fund accelerated exploration; its focus was assay results and delivery of a maiden MRE.
Upland Resources (UPL): 8-inch gas pipeline construction underway in Wyoming
Upland Resources said construction of LSOG’s 8-inch gas sales pipeline began in Wyoming, with first gas sales expected in Q4 2026.
Abingdon Health (ABDX): New Madison manufacturing hub opened
Abingdon Health officially opened its new manufacturing hub in Madison, Wisconsin, providing infrastructure and capacity to expand its US operations.
Thalia Therapeutics (THAT): Initial chemistry synthesis completed for THAT-002
Thalia Therapeutics completed initial chemistry synthesis for THAT-002, beginning in vitro studies ahead of in vivo work scheduled for later in the fourth quarter.
Reveille Resources (REV): Italy approves framework for sustainable nuclear energy
Reveille said Italy’s Senate approved nuclear-energy framework legislation; its projects contain historical estimates of approximately 15.8 million pounds of U₃O₈.
Capita (CPI): Secures £30m of new financing facilities
Capita entered into £15m revolving credit and £15m term loan facilities with Shawbrook Bank, maturing in September 2029.
Kooth (KOO): Patrick Johnston appointed executive director
Kooth appointed Chief Operating Officer Patrick Johnston as an Executive Director with immediate effect, expanding the Board to eight Directors, including five independent Non-Executive Directors.
