Tavistock Investments (LON: TAVI) has updated investors on its litigation with Titan, who acquired Tavistock’s asset management business and funds branded ACUMEN. This was part of a 10-year strategic partnership. Tavistock says that there were many breaches of the agreement. A court hearing determined that Tavistock can add other counterclaims and awarded it interim costs of £250,000. The share price increased 19.7% to 4.25p.
Shares in Wishbone Gold (LON: WSBN) rebounded 13.8% to 62p following an interview with chairman and chief executive Richard Poulden on focusIR.
Sovereign Metals (LON: SVML) has signed a collaboration agreement with International Finance Corporation (IFC) to support development of the Kasiya rutile and graphite project. IFC will have rights to be primary lender and lead investor for Kasiya. The share price rose 8.8% to 27.2p.
Serica Energy (LON: SQZ) is buying North Sea assets from Spirit Energy for $74m with the effective date 1 January 2025. These are predominantly gas assets and production is 13.5mboe/day. Spirit Energy is retaining decommissioning liabilities with a cap of 115% of current estimates. Serica Energy chief executive Chris Cox previously held the same role at Spirit Energy, so he knows the assets. The acquisition will be earnings enhancing with potential upside from further drilling and development. The share price improved 3.26% to 167.7p.
FALLERS
Logistics technology provider Touchstar (LON: TST) will not meet expectations this year and it is expecting modest growth in 2026 because of continuing tough economic conditions. In 2025, revenues will be around £6.7m, compared with the forecast of £8m, and there will be a small pre-tax profit. There will be exceptional costs of £1.45m for restructuring and software impairment. Cash will be £2m at the end of the year. The restructuring continues and acquisitions will be reviewed. The share price slumped 22.8% to 57.5p.
Geo Exploration (LON: GEO) has raised £1.25m at 0.18p/share. This will fund exploration at the Gorge gold project, advance drilling at the Juno gold project and finance farm-out activities for the PEL 94 oil licence in Namibia. In September, £1.1m was raised at 0.4p/share. The share price slipped 21.9% to 0.1875p.
Shares in Polarean Imaging (LON: POLX) declined 14.3% to 0.09p following shareholder voting in favour of leaving AIM on 23 December. JP Jenkins will provide a matched bargain facility.
Oriole Resources (LON: ORR) has published a preliminary economic assessment for 50%-owned Bibemi open pit gold project in Cameroon. Initial capital expenditure is $60.4m. The NPV8 is $12.8m based on a gold price of $3,200/ounce. Average all-in sustaining cost is $1,234/ounce. Total gold production of 72,000 ounces is estimated over seven years. The mine life can be extended. An exploitation licence could be granted in the first half of 2026. The share price is one-eighth lower at 0.28p.
Genomic diagnostics tests developer Oxford BioDynamics (LON: OBD) improved revenues from £600,000 to £1.1m in the year to September 2025. Marketing costs were refocused on direct selling to US physicians. Cash was £1.4m at the end of September 2025 with £7m goss subsequently added to the cash pile. Monthly sales of the EpiSwitch PSE prostate cancer test reached 250 by November. The target is 500 sales each month within 12 months. The share price dipped 8% to 0.23p.