AQUIS STOCK EXCHANGE
Fuel additives supplier Sulnox Group (SNOX) generated second quarter revenues of £984,000, which is a record quarter. Further growth will come from recent contract wins. Full year revenues of £7.22m are forecast, up from £2.62m in the previous year. Sulnox will remain loss-making but get nearer to profitability next year.
Ajax Resources (AJAX) intends to raise a minimum of €2.5m as part of the flotation on Euronext Growth Oslo. The minimum share price would be around 8p. Additional information has been submitted for the Environmental Impact Assessment for the Macacha copper and silver project in Salta Province, Argentina. Authorisation could be achieved before the end of the month. Chief executive Ippolito Ingo Cattaneo bought 450,000 shares at 8p each. Orca Capital has a 10% stake.
BWA Group (BWAP) has revised earn-in details with Aurum Discovery Holdings for the Aracari gold project in Cameroon. BWA holds 51%, for a sunk cost of Euro 240,000 in field work, which is lower than originally agreed and it has the right to increase this to 70%. That requires a further Euro1.26m investment.
DXS International (DXSP) points out that NHS England has announced plans for a new £838.7m open framework for GP IT solutions. This is positive for the healthcare IT provider, and it will simplify access to the market. The tender process should start in November with the launch expected next September.
Mollyroe has changed its name to Cascade AI (CASC). The company has partnered with BytePlus and Seedance to launch the global Greenlight Film Competition, which invites filmmakers and creators to pitch a teaser for a story, using Cascade’s filmmaking platform to develop their ideas. Four winners will share $100,000 in prizes. Octopus Investments has a 3.81% stake in Cascade AI.
Ubuntu Mining and Metals (UNTU) has a binding agreement regarding Nachingwea project in Tanzania. At a cost of $35,000, Ubuntu takes its stake in Treasure Trove Mining and Metals Company, which has the prospecting licence for the project, to 42.9%. There is an option to take this to 60%.
Fenikso (FNK) has received a further $692,000 as partial repayment of a loan that has been reduced to $30.2m.
Three directors of Delta Gold Technologies (DGQ) bought shares. Mark Burnett acquired 4,000 shares at 118p each, Patrick Severide bought an initial 4,236 shares at 117.9p each and Adam Monaco acquired an initial 2,500 shares at 117p each. Time to ACT (TTA) says Hugh-Peter Kelly, the original inventor of the GreenSpur advanced electrical machines technology, has sold 625,000 shares, halving his stake to 2.8%. VSA Capital (VSA) head of equities Oliver O’Donnell bought an initial 15 shares at £300 each, giving him a 0.63% stake.
Vault Ventures has changed its name to Sentry 7 (SVN).
ASSET MATCH
Macdonald and Company (PRP) has paid a 2p/share interim dividend.
AIM
Cloud-based video editing technology developer Blackbird (BIRD) despite today’s confirmation that elevate.io is available on the Google Perks platform in the UK. This enables Chromebook users to access elevate.io at a discounted rate – a 50% discount for a six-month period or a 25% discount on an annual subscription for one of the three tiers on offer. There are nearly one million Chromebooks sold annually in the UK and tens of millions of Chromebook users around the world. Existing and new users can take advantage of this browser-based offer. There are currently just over 1,000 elevate.io subscribers. If the pilot is successful, it could be rolled out in other countries.
Digitisation services provider TPXimpact (TPX) had a strong first half and this has led to a fourth forecast upgrade for this year. Full year revenues are expected to be £105.4m, which is more than 30% higher than the figure one year ago. Forecast earnings of 9.8p/share are more than double the level one year ago. Net cash could reach £4.4m at the end of March 2027.
A major client loss at productivity optimisation software provider ActiveOps (AOM) has offset growth elsewhere. Interim revenues are 21% ahead at £25.3m, which is organic growth of 5%. The growth is in SaaS revenues. The loss of the customer next March will not affect the current financial year, but it will reduce the 2027-28 revenues by £3.8m. Canaccord Genuity has cut its 2027-28 pre-tax profit forecast from £5.2m to £3.5m. Net cash would be £29.4m at that point. Octopus subsequently increased its stake from 14.2% to 15.98%.
Jarvis Securities (JIM) says it will consider credible reverse takeover opportunities, but winding up the company is still the current intention. Jarvis Investment Management has been placed into Special Administration and S&W Partners has been appointed to the role. This makes Jarvis Securities a cash shell. There was £2.5m in cash at the end of September 2026. The 2025-26 results should be released before the end of the year. The share price halved to 4p, which capitalises the company at £1.8m.
Antibody discovery company Fusion Antibodies (FAB) interim revenues declined from £838,000 to £457,000 with margins reducing. Cash was £135,000 at the end of September 2026, with more than £100,000 of grant funding expected. Cost reductions have been made and working capital requirements are being reviewed. The share price slipped 35.5% to 6.45p.
Helium One Global (HE1) has raised £3m at 0.29p/share. This will finance the continued development of the 50% owned Galactica-Pegasus Project in Colorado, where the operator is Blue Star Helium, and pay for the annual mining licence fee for the southern Rukwa helium project.
EnergyPathways (EPP) shares returned from suspension following the completion of a £1.75m fundraising at 5.75p/share. The cash came from a single institution. This will help to finance the MESH project, including the purchase of assets for the development. Grant funding is being pursued. EnergyPathways is still talking with potential partners for the development, which captures excess energy from offshore wind power and stores it in offshore salt caverns. The hydrogen and graphite production part of the development should be generating revenues by 2029. Land with power connections has been identified.
Cybersecurity company Corero Network Security (CNS) revealed third quarter order intake rose 50% to $11.1m. Corero is thought to be gaining market share in DDoS protection. Full year revenues are forecast to improve from $25.5m to $31.9m, and the order book underpins this and a move into profit. Canaccord Genuity has a share price target of 21p.
Podcast platform operator Audioboom (BOOM) increased third quarter revenues by 17% to $23.8m and this has led to a 2026 upgrade by Cavendish. Forecast revenues have been maintained at $94.5m, while earnings have been upgraded from 31.1 cents/share to 33.2 cents/share. This is due to lower than expected operating costs. Net cash of $10m is forecast for the end of 2026. This will help to finance acquisitions.
Roundhouse AI (LON: RHAI) has made the move from Aquis to AIM, raising £1.59m at 5p/share. The last Aquis share price was 5.75p. The cash will fund progress in developing and enhancing the profile of AI agent deployment infrastructure. This shows who is being paid and the related costs. The dashboard is already live and free to use. The share price increased to 7.25p.
Synthetic binders developer Aptamer Group (APTA) reported full year revenues in line with expectations at £1.5m. There were initial contributions from two licensing deals. Cash used in operations was £2.09m. Cash was £4.4m at the end of June 2026, following the fundraising earlier in the year, and there have been tax credits received since then. Investment in AI is speeding up development of optimers.
Cash shell Meantime Resources (MTR) raised £15m at £10/share when it joined AIM on 13 October. The share price ended the week at £9.90. The company is seeking to acquire precious and base metals assets.
Everyman Media (EMAN) has sent out the circular to gain shareholder approval for the departure from AIM. There is already backing from shareholders owning 61.2% of the share capital. The intention to leave was first mooted nearly four months ago and there have been talks with shareholders ahead of the decision to go ahead with the plan.
Falkland Islands – focused oil and gas explorer Borders & Southern Petroleum (BOR) is raising £2m at 11.5p/share from a high net worth investor in the Middle East. This should fund the company until mid-2028, while it has farm out discussions about its assets.
Gunsynd (GUN) intends to transition from an investing company into an operating company. The focus is the Barb gold project in Manitoba, Canada with remaining investment likely to be sold. There will be a consolidation of 12 existing shares into one new share. The company is changing its name to Bisgood. A general meeting will be held on 28 October.
Iodine producer Iofina (IOF) disappointed the market with weak third quarter production figures due to lower brine volumes and a delay in IO#12 commencing production. Third quarter production was 205 tons. Second half iodine production expectations have been reduced from 460-485 tons to 440-455 tons. However, higher iodine prices have offset much of this decline.
Fishing tackle and equipment retailer Angling Direct (ANG) increased interim pre-tax profit by 11% to £3.3m. This is the stronger half. The heatwave and general weak consumer confidence did not help, but sales have improved in the second half. Net cash is £14.5m. Market share is being gained in a flat market.
Thor Explorations (THX) poured 15,515 ounces of gold in the third quarter. There were 19,000 ounces of gold sold generating $81.7m in revenues during the third quarter. There was $224.9m in cash at the end of September 2026. Heavy rainfall means that 2026 gold production guidance has been reduced from 75,000-80,000 ounces to 70,000-72,000 ounces. All-in Sustaining Cost guidance is still $1,000-$1,200/ounce. Infill drill continues at the Douta project in Senegal, and an updated mineral resource estimate is expected before the end of the year. Thor Explorations won the diversity champion award at the AIM Awards last week.
MAIN MARKET
Foams manufacturer Zotefoams (ZTF) has bought US-based Verttec, which makes crosslinked roll foam, for up to $7.3m. This adds a new product to the range and additional capacity, which would cost a lot more to replicate. The new market is worth more than $140m in North America. The roll foam is used in medical tapes and electronics. The 2026 pre-tax profit forecast is unchanged at £27.1m, while the 2027 figure is £28.4m.
Telegraph Media Group is the latest publisher to agree to a national distribution deal with newspaper and magazines distributor Smiths News (SNWS) that will last until 2036. This will add £40m of additional annual revenues. Market share would exceed 60% of the national newspaper and magazines sector. This is the latest national agreement, and the company will have to invest in its distribution network. Further details of how the contract wins will change existing expectations are still awaited and are likely with the full year results on 4 November.
Kitchenware retailer ProCook Group (PROC) continues to grow revenues in a tough consumer market. Second quarter sales were 16% higher, while the market declined slightly. Sales were relatively weak in the hot weather but picked up later in the quarter. DHL has taken control of distribution, and this appears to have gone well.
