Empyrean Energy (LON: EME) says the farm-down of a 75% non-operated Participating Interest in the Duyung PSC to PT Nations Natuna Barat (NNB) has been completed. This has triggered a second payment of $4m. There is $7m of the total payment of $16m payable when production commences. First gas is targeted for the end of 2027. Empyrean Energy retains a 22.875% operated participating interest in the Duyung PSC via WNEL Holdings. Empyrean Energy is entitled to 8.5% of all cash payments to WNEL. The share price jumped 79.5% to 0.0725p.
Construction and maintenance software provider Eleco (LON:ELCO) is recommending a 235p/share cash offer from private equity investor Accel-KKR. The share price has never been anywhere near this level, and it is more than 80% above the level at the beginning of the year. The bid values Eleco at £207.6m and it is 34 times 2026 prospective earnings, falling to 29 next year. The share price is 70.3% higher at 229p.
Acuity RM (LON: ACRM) has won a further contract from a prime defence contractor. This is for the STREAM Classic cybersecurity platform, which was launched earlier this year. Annual recurring revenues will be £160,000. Current forward contracted revenues are £2.265m. The share price gained 53.6% to 1.075p.
Serval Resources (LON:SRVL) has completed geological mapping on EPL 7081 in the Kaoko Basin in Namibia. It has mapped multiple copper occurrences. The maiden drilling programme should start before the end of the year. The share price improved 53.3% to 32.2p.
FALLERS
Kefi Copper and Gold (LON: KEFI) has suspended the development of the Tulu Kapi gold project in Ethiopia because of a security incident that led to a number of deaths last Friday. The company is talking with the Ethiopian government and the local community so that safety can be improved enough to restart development. Discussions are happening. The share price dived 43.4% to 0.667p.
Phosphate producer Kropz (LON: KRPZ) says the Middle East conflict has put financial pressure on the business, which will be restructured. Disruption to fertiliser production has hit demand for phosphate rock and pries have fallen. This is at a time when fuel and freight costs are rising. This means that the Elandsfontein mine continues to lose money. Future sales of phosphate rock will be from stock, and no further mining is currently planned. Instead, the focus will be on the Nanophos market. This is a sedimentary soft rock phosphate, which is used as an organic fertiliser. The share price slumped 38.9% to 0.55p.
Beowulf Mining (LON: BEM) says that the Swedish Inspectorate of Strategic Products is reviewing the proposed investment from Bacchus Capital & Affiliates. This should take three months, but it could be longer. The company will require additional cash in the next month. The share price declined 31.8% to 7.5p.
Diagnostics company Cambridge Nutritional Sciences (LON: CNSL) results were in line with the previous trading statement. In the year to March 2026, revenues fell from £8.3m to £7m, while the loss jumped to £1m. A similar loss on lower revenues is expected this year. The IVDR-compliant FoodPrint platform should launch next year. This should help the business to recover. The share price slipped 24.3% to 1.4p.