News blog

Quoted Micro 28 September 2026

BY: Andrew Hore |
POSTED: 27/09/2026 |

AQUIS STOCK EXCHANGE

Executive recruitment company Connecting Excellence (XCE) has raised £600,000 at 1.5p/share with one-third subscribed for by Adam Back. That was a premium to the market price at the time. The cash will be used to buy Bitcoin to add to the existing holding of 8.216 Bitcoin. A previously announced recruitment acquisition is still subject to due diligence.

Roundhouse AI (ETHL) has set 13 October as the date for its move to AIM. It intends to raise £1.5m.

Coinsilium (COIN) maintained interim revenues of £3,000 and there was a loss of £2.13m on crypto tokens fair value. That meant that the overall loss increased from £510,000 to £3.07m. Net assets were £11.7m at the end of June 2026.

Fuel additives developer Sulnox Group (SNOX) has secured a four-year supply agreement with Greek shipping management company Spring Marine, which is also investing £1.1m at 40p/share. The agreement covers supply of Sulnox Eco at least 34 vessels and a 70,000 litres per annum increase on the previous agreement. Spring Marine has positive results from initial use.

Ormonde Mining (ORM) had net assets of £2.99m at the end of June 2026, including cash of £2.1m.

Personal care products manufacturer Amirose London (ALH) increased full year revenues by one-quarter to £13.7m, but the loss rose from £240,000 to £693,000. The company has been profitable in the latest three month period.

Reveille Resources (REV) pointed out that the Italian Senate has approved the reintroduction of nuclear energy. Reveille Resources is applying for exploration licences over the Novazza and Val Vedello uranium projects in Lombardy. YA II reduced its shareholding from 12.5% to 6.26%.

Vault Ventures (VULT) is changing its name to Sentry 7. Mark Evans-Smith has been appointed chief executive. The company is developing a post-quantum cryptography-based technology platform to provide financial institutions and regulatory bodies with tools to support the integrity and verification of electronic communications in a post-quantum environment. Financial institutions are helping in the development.

Property investor Ace Liberty and Stone (ALSP) full year revenues fell 5% to £5.25m. The loss was reduced from £1.77m to £403,000 due to a reduction in asset write downs and a lower interest charge. Net assets were maintained at £30.1m.

Ajax Resources (AJAX) has extended the option to acquire the Nueva Celti copper project in Spain to 30 October.

Tomahawk Metals (TMHK) raised £137,000 at 1p/share. The corporate adviser has changed to First Sentinel Corporate Finance and a company related to its boss Brian Stockbridge subscribed £75,000.

Healthcare IT supplier DXS International (DXSP) revenues fell 5% to £3.29m in the year to April 2026, while the loss was reduced from £96,000 to £175,000. A research and development tax credit meant that there was a post-tax profit.

Zentra Group (ZNT) says a replacement contractor has been signed up to complete the One Victoria development in Manchester.

Industrial AI developer IntelliAM AI (INT) has received an additional order from an agricultural processing and commodities business. This takes the total value of orders for the customer to £450,000.

S-Ventures (SVEN) had net assets of £2.93m at the end of June 2026, which is predominantly a shareholding in Tooru (TOO).

Equipmake (EQIP) executive director Jason Abbott bought 70,397 shares at 1.385p each. James and Alexandra Pace increased their stake in Shepherd Neame (SHEP) from 6.58% to 7.12%.

JP JENKINS

Renewable energy investment company Thrive Renewables (THRV) generated an interim operating profit of £1.8m on revenues of £10.3m. A bond offer raised £7m and the company also secured new lending of £64m to finance the growth of the portfolio.

AIM

System1 (SYS1) says adjusted pre-tax profit was £2.1m in the five months to August. Full year guidance has been raised from £4.2m to £5m. This will help in the defence of the bid for the market research services provider from Brave Bison (BBSN).

Judges Scientific (JDG) continues to be hampered by uncertain spending in the US. This affects scientific instruments businesses in other countries as well as the US. Interim revenues fell from £70.2m to £55.7m. Underlying pre-tax profit declined from £12.6m to £3.2m. There are signs of improvement in the second half and full year pre-tax profit is expected to £16.9m.

Autonomous vehicles and automotive components developer Aurrigo (AURR) has started to generate revenues from the defence sector and automotive revenues recovered in the first half. Interim revenues were 19% ahead despite a weaker contribution from autonomous vehicles, which should make a more significant contribution in the second half. Cash was £8.4m at the end of June 2026 and this will take the company into 2027.

Telematics company Microlise (SAAS) had a tough first half with a 10% reduction in revenues. However, annualised recurring revenues from direct business were 12% ahead at £47.1m and net revenue retention was 106%. There should be a recovery in full year pre-tax profit from £2.6m to £3.6m.

Tungsten miner Tungsten West (TUN) has entered an eight-year supply and offtake agreement from the Hemerdon mine with Elmet Technologies. This covers 1,000 tonnes of tungsten each year, which is currently valued at £1.4bn. Elmet may also process additional tonnes for the UK government and industry. Elmet will use this offtake for its tungsten supply chain. Hemerdon production will start to be ramped up.

Hostels operator Safestay (SSTY) says continuing interim revenues declined 11% to £8.4m as occupancy declined. This meant that Safestay fell into loss – although the corresponding period would have been loss making without a Covid insurance payment. Property sales have reduced net debt by one-third to £16.2m. NAV is 20p/share.

Increasing cash generation from copper production is enabling Anglo Asian Mining (AAZ) to build up its cash pile to help to finance two more copper mines. In the first half of 2026, the Azerbaijan-based copper and gold miner increased revenues from $40.9m to $141.2m with copper generating the majority of revenues. This period was the first when the Gilar and Demirili mines were producing copper for a full six months. There was 8,840 tonnes of copper produced. Costs were lower than guidance and net cash generated from operations jumped from $11.4m to $78.5m. Net cash was $57.7m at the end of June 2026. The interim dividend is 6 cents/share. Anglo Asian Metals can pay dividends and finance the feasibility studies for XarXar in 2027 and Garadag in 2028. The company’s cash and other funding should be enough to construct these mines without a share issue. Copper production guidance for the full year is 20,000 to 25,000 tonnes.

Retailer Mothercare (MTC) issued a further update on its financial position. The company is expected to receive £800,000 from the liquidation of Mothercare UK. This will not materially change the financial position after trading in the Middle East has got tougher. Alshaya is the franchise partner in the region and contributed 28% of revenues last year. Alshaya is considering closing a majority of its 62 stores. Mothercare will cut costs and is reviewing its model. Chairman Clive Whiley increased his stake from 8.87% to 11.3%, by buying shares at 0.25p each. Lombard Odier had previously sold its 18.9% shareholding.

Retail software itim Group (ITIM) increased interim revenues by 7.5% to £8.6m and it returned to profit thanks to cost savings. The pre-tax profit was £200,000. Annualised recurring revenues are £13.6m. The company launched itimAIQ in the period. Zeus expects breakeven for the full year, and it could be better if additional contracts are won.

80 Mile (80M) is receiving £500,000 for changes to a joint venture agreement. Fellow Greenland-focused resources company Greenland Energy has become responsible for obtaining permits and access rights for the Jameson liquid hydrocarbon project in Greenland. The date for the drilling of the first and second exploration wells has been extended to the end of 2028. 80 Mile is in talks concerning a merger with Greenland Energy. The indicative offer is 0.01108 Greenland Energy shares for each 80 Mile share. That valued the company at £61.5m and each share at 1.1p, based on a Greenland Energy share price on Nasdaq of $1.37, but the share price has jumped to $5.54.

Sunda Energy (SNDA) finalised a placing and subscription raising £5.25m at 1.5p/share and a retail offer subsequently raised the maximum of £525,000. This will help to pay for the acquisition of Matahio Energy NZ and provide funding for interests in Timor-Leste and the Philippines.

Ingenta (ING) reported flat interim revenues of £5.1m, but recurring revenues edged up to £4.7m. Interim pre-tax profit fell from £1.2m to £688,000. Net cash was £4.6m at the end of June 2026. New contract wins are offsetting lower income from legacy contracts. Full year revenues are still expected to improve from £10.3m to £10.6m, but pre-tax profit is forecast to decline from £1.6m to £1.4m.

Great Western Mining Corporation (GWMO) had cash of €2.77m at the end of June 2026 after a €1.14m cash outflow from operations and investment in the first half of 2026. A maiden mineral resource estimate for the Defender tungsten prospect should be ready in the next few months.

Payments technology provider Bango (BGO) grew interim revenues 3% to $25.9m, while annualised recurring revenues were 31% higher at $20.4m. That is because growth is coming from subscription income. Net revenues retention was 119% in the first half. Adjusted EBITDA rose from $6.7m to $9m. Restructuring is improving payments margins. Net debt was $8.7m at the end of June 2026.

MAIN MARKET

Filtration and lab equipment supplier Porvair (PRV) says full year trading is slightly ahead of expectations. In the nine months to August 2026, constant currency growth was 14% and organic growth was 5%.

Capricorn Energy (CNE) is recommending an increased cash offer from Genel Energy of $5.74/share, which includes a 99 cents/share special dividend. This is equivalent to 434p/share, valuing the company at £330m, and is higher than the rival offer from DNO Bidco valued at 388p/share.

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