Security and surveillance company Petards (LON: PEG) has been awarded a defence contract worth £2.2m by Rheinmetall BAE Systems Land. Rheinmetall BAE Systems Land. This contract is part of the Challenger tank upgrade programme, and it will be delivered by the end of 2026. The share price jumped 43.3% to 10.75p.
Shares in Synergia Energy (LON: SYN) recovered 18.8% to 0.0095p following yesterday’s news that it is selling its 50% stake in the Cambay PSC for $14m and $500,000 has already been received. The initial payment is $6.5m with a further $7m 12 months after completion. This deal requires India government approval. Synergia Energy is asking for shareholder approval to leave AIM, and it will return cash to shareholders via a share buyback. A matched bargain facility may be put in place. The share price is still more than two-fifths lower this week.
Defence business RC Fornax (LON: RCFX) has gained £2.5m of additional orders and that helps to underpin full year forecast revenues of £4.1m. In November £2.32m was raised at 6p/share. The share price gained 9.76% to 6.75p.
Fulcrum Metals (LON: FMET) has achieved more than 70% gold and silver recoveries at Teck Hughes in Canada. This is part of the phase 3 metallurgical work. Previous gold recovery levels were 59.4%. Full results are expected in the first quarter of 2026, and this will support a mineral resource estimate. This will be followed by a phase 4 preliminary feasibility study. The share price rose 1.85% to 6.875p, having been above 7.5p earlier in the morning.
FALLERS
Alaska-focused oil and gas explorer Pantheon Resources (LON: PANR) has updated the market on the flow testing of the Dubhe-1 well. Gas and modest amounts of light oil have been produced. Around two-fifths of the fluid used in fracking has been recovered. Management believes that flow ates may improve one more fluid is extracted. The estimated costs of the well have been raised from $25m to $33m. The share price dipped 19.9% to 20.275p.
Water and environmental testing technology supplier Metir (LON: MET) says demand is strong for its instruments and it is trying to increase the supply rate from its manufacturing partner. Investment in upgrading the instruments will enable more readily available components to be used, which will help to improve margins. There have been technical difficulties with some instruments that are part of a major project in Qatar and payments are deferred until the first quarter of 2026. Cash was £147,000 on 1 December and management believes that it has the funds it requires. The share price is 6.06% lower at 0.775p.
Data analysis software provider Celebrus Technologies (LON: CLBS) has annualised recurring revenues of $20.8m. It is still early days in the move to a subscription model. Interim revenues fell from $17.2m to $10.4m due to the model change. There was a swing from profit to a loss of $1.4m. Cash has reached $27.3m by September 2025. The dividend was raised 3% to 0.98p/share. Full year revenues ae expected to decline from $38.7m to $23.5m with a loss of $700,000 before a return to profit next year. The share price fell 5.26% to 135p.
Interim results from media research company System1 Group (LON: SYS1) were in line with the previous trading statement. Revenues fell 7% to £17.1m and pre-tax profit slumped to £300,000. The weakness was in the UK and Europe. There has been an improved start to the third quarter and there should be growth in the second half. The share price declined 4.69% to 203p.