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The Markets
by Proactive
Proactive UK has moved.
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Archive

Small cap wrap: Medicus Pharma, 1911 Gold, NanoViricides, Nextech3D.ai, NextSource Materials…

Peel Hunt has reiterated its 'buy' recommendation and 60p price target on Gaming Realms PLC (LSE:GMR, OTCQX:PSDMF, FRA:RNE1), following the company’s pre-close trading update, which confirmed another year of double-digit revenue and profit growth, led by continued US momentum.

Revenue for the last financial year rose around 10% year-on-year, with adjusted EBITDA up approximately 15%.

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Accesso Technology Group PLC's (LSE:ACSO, OTC:LOQPF, FRA:LQG) decision to expand its relationship with Adyen and internalise payments under its own brand marks a meaningful evolution in the company’s commercial model.

The move, flagged in a note by Peel Hunt, sees Accesso shift from a passive integrator of third-party payment services to an active payments facilitator.

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OKYO Pharma Ltd (NASDAQ:OKYO), a clinical-stage biopharmaceutical company focused on therapies for neuropathic corneal pain (NCP) and inflammatory eye diseases, has appointed Flavio Mantelli as its Chief Medical Officer.

Dr Mantelli joins OKYO Pharma with extensive experience in ocular surface drug development, including leading the clinical development and global strategy for Oxervate at Dompé farmaceutici, which reached blockbuster status with sales exceeding $1 billion in 2024.

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Medicus Pharma (NASDAQ:MDCX) announced that it has received “study may proceed” clearance from the US Food and Drug Administration (FDA) to initiate a Phase 2b dose-optimization study of Teverelix, its investigational long-acting gonadotropin-releasing hormone (GnRH) antagonist, in men with advanced prostate cancer and elevated cardiovascular risk.

The open-label Phase 2b trial is expected to enroll 40 patients who are candidates for androgen deprivation therapy.

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NanoViricides (NYSE-A:NNVC), a clinical-stage biotechnology company developing broad-spectrum antivirals, said on Tuesday it has filed an application with the US Food and Drug Administration (FDA) for Orphan Drug Designation for its experimental drug NV-387 as a treatment for measles.

If granted, the designation would provide the company with incentives including tax credits for qualified clinical trials, exemptions from certain FDA user fees, and potential seven-year market exclusivity following approval.

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Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) announced it has expanded its enterprise platform to include corporate gifting as a new capability within its event and engagement technology offering.

The AI-focused event technology and experiential commerce company said the addition extends its platform beyond event delivery to support employee engagement, incentive programs, and corporate rewards initiatives.

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1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) has released an independent preliminary economic assessment for its True North Gold Project in Manitoba that supports a low-capital restart with strong returns and production targeted for 2027.

The study outlined an 11-year underground mining operation producing about 58,100 ounces of gold per year at steady state, according to 1911.

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NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) has announced plans for a private placement offering of units to raise gross proceeds of approximately C$25 million, with funds expected to support development of its United Arab Emirates battery anode facility, update its Molo technical report, and for general corporate purposes.

The company said it has engaged Stifel Canada as lead agent and sole bookrunner, with Maxim Group acting as co-agent, for a “best-efforts” offering of about 58.8 million units priced at C$0.425 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant.

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Cavendish Securities reiterated its 'buy' rating and 21.8p target price for 88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ), highlighting the increased potential of the company’s Namibian acreage following positive regional drilling results.

The recent Kavango West-1X well, drilled by a separate operator, confirmed meaningful net pay and hydrocarbon shows, and will now progress to production testing.

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Orosur Mining Inc shares were down, around 13%, after it announced its first resource estimate for the Pepas discovery, in Colombia, outlining 201,000 ounces of contained gold in the Indicated category as it pivots the prospect from drill-bit success into studies and permitting.

The maiden mineral resource estimate (effective 16 January 2026) comes in at 1.14 million tonnes grading 5.46g/t gold for the Indicated resource, plus an additional 18,000 ounces in an Inferred resource of 0.19 million tonnes at 2.99g/t.

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AFC Energy PLC (AIM:AFC, OTC:AFGYF, FRA:QC8), the AIM-listed hydrogen energy group, has signed a joint development agreement with Komatsu and its affiliate Industrial Power Alliance to integrate ammonia-to-power technology into heavy industrial engines.

The agreement, valued at approximately $2 million, subject to milestone delivery, will see AFC Energy’s proprietary ammonia cracker adapted to work with a Komatsu internal combustion engine.

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Accesso Technology Group PLC (LSE:ACSO, OTC:LOQPF, FRA:LQG), the AIM-listed provider of technology to the leisure and entertainment sectors, has expanded its strategic partnership with Adyen to integrate embedded payments across its global platform.

The move will see Adyen become accesso’s long-term financial technology provider, underpinning a payments infrastructure that supports more than $5 billion in annual transaction volume across digital and on-site guest journeys.

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Gaming Realms PLC (LSE:GMR, OTCQX:PSDMF, FRA:RNE1), the London-listed developer and licensor of mobile gaming content, expects to report a 10% increase in annual revenue to £31.4 million and a 15% rise in adjusted earnings before interest, tax, depreciation and amortisation to £15 million for the year to 31 December.

Growth was led by content and brand licensing, particularly in the United States, where revenue from six regulated online gaming markets rose 19%, or 23% on a constant currency basis. The US now accounts for 61% of group revenue, up from 56% in 2024.

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European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has reported a fresh set of high-grade drilling results from the Tanbreez Rare Earths Project in southern Greenland, highlighting expanding mineralisation across multiple zones and reinforcing the project’s scale and long-term development potential.

The results, drawn from the final assays of the 2025 drilling campaign, cover both the established Fjord Deposit and a newer target known as Area B, located immediately east of the Hill Zone Deposit.

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RaaS continues to see Provaris Energy Ltd (ASX:PV1, OTC:GBBLF, FRA:WS90) as a "unique investment opportunity" into the "clean and green" energy sector and is framing 2026 as a year where the company needs to deliver clear technical milestones to reduce risk and move closer to commercial outcomes. The broker’s focus remains on two tracks: Provaris’ compressed hydrogen storage pathway and a separate LCO2 tank opportunity, where FEED and fabrication work are the near-term markers of progress.

"As we see it, Provaris Energy Ltd (ASX.PV1) continues to represent a unique investment offering into the ‘clean and green’ energy sector, and the complementary carbon capture and storage business, through its proprietary storage tank designs. On success, the innovative designs as proposed should be viewed as a disruptor technology that can instigate and support a materially positive change to energy supply-chains and the economics of CO2 transport — simply on the basis of shipping 'more for less' cost. We view 2026 as the year to complete deliverables in both the hydrogen and LCO2 streams and note the recent ASX release, that it has '…successfully completed the Phase 1 delivery of LCO2 Tank FEED (…) on time and within budget'.

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Omega Oil and Gas (ASX: OMA) has been awarded a large new land parcel in Queensland’s Taroom Trough, extending its operated position over the basin’s eastern flank and setting up what the company is pitching as a major 2026/27 drilling campaign.

The Queensland Government granted the 750 sq km block (PLR2025-1-9) to an Omega-led joint venture with Tri-Star E&P and Beach Energy following a competitive tender process. Omega will hold 45% and operatorship, with Tri-Star on 30% and Beach on 25%.

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Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has delineated multiple compelling exploration targets at its Wyloo gold–silver–antimony project in the southern Pilbara, paving the way for the company’s first reverse circulation (RC) drilling campaign at the emerging polymetallic system.

Recent soil and stream sediment results have expanded key anomalies at both the Wyloo SE and Wyloo SW prospects, with strong multielement geochemistry highlighting prospective corridors for systematic testing in 2026.

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