Sulfur battery technology developer Gelion (LON: GELN) says there were good preliminary results from the independent testing of its Nano-Encapsulated Sulfur (NESTM) Cathode Active Material (CAM) by National Laboratory of the Rockies (NLR) under the Cooperative Research and Development Agreement (CRADA) that was announced in June. They confirmed Gelion’s own tests. The next step is pouch cell prototyping. There is potential for use in consumer electronics, drones and electric vehicles. The share price jumped 26.4% to 16.75p.
Hydrogen technology developer Clean Power Hydrogen (LON: CPH2) has undertaken an internal technical investigation into an incident last May during the final factory acceptance testing of the MFE220 1MW unit. An unexpected error caused a shutdown that led to significant damage to the equipment. It appears that the company’s membrane-free stacks were to blame. Component design and cleanliness were factors. Remedial research and design have started. Lisheen H2 Energy Park has extended its licence to own-use rights in the US and further discussions continue. The share price recovered 11.1% to 1.25p, but it is still more than 90% lower than the peak in May.
Professional services provider Diales (LON: DIAL) was more profitable than expected in the year to September 2026. Operating profit will be at least £1.8m, compared with forecasts of £1.5m, on revenues of £44m. Gross margins have improved. Net cash was £3.3m. The share price rebounded 9.84% to 33.5p.
Petro Matad (LON: MATD) says its joint venture SunSteppe Renewable Energy has signed a memorandum of understanding with Saudi Arabia-based Acwa for the potential export of renewable energy from Mongolia to China. This is in addition to existing projects. There will be further details of the joint venture in a presentation tomorrow. The share price rose 5.71% to 0.925p, having been above
FALLERS
Mind Gym (LON: MIND) says that it is making progress moving from episodic training to a more strategic partner to its clients. However, market conditions are tough, and interim revenues have fallen from £13.5m to £11.5m. Recurring fees are 45% higher at £2.1m. Annualised costs of £900,000 have been taken out of the business, which brings the total reduction over 18 months to £9.4m. Even so, the interim loss will increase. Net debt was £1.6m. Mind Gym believes it can be profitable in the second half. The share price slumped 10.6% to 5.25p.
North Sea-focused oil and gas producer Serica Energy (LON: SQZ) reported third quarter production above expectations. Production was around 22,000 boe per day, helped by recent acquisitions. The Triton maintenance period has been extended, so full year production estimates have been reduced to around 38,000 boe per day. Full year cash flow after tax and interest charges is expected to be $447m. Serica Energy is set to move to the Main Market in a few weeks. The share price declined 3% to 271.6p.
Oil and gas producer Kistos (LON: KIST) averages pro forma production of around 20,000 boe per day so far this year following a reduction in the third quarter because of the planned turnaround of the Jotun FPSO. This is right in the middle of the full year production guidance. Nine month pro forma EBITDA is $280m, including a contribution from recently acquired assets in Oman. Kistos has unhedged exposure to oil and gas prices. Net debt is $101m. The share price fell 4% to 300p.
80 Mile (LON: 80M) has signed heads of terms to sell its Finland assets to Badlands Resources Inc. This includes the Hammaslahti copper-zinc project and the Outokumpu copper-volcanogenic massive sulfide project. The cash payment of C$1m will be in two tranches and 80 Mile will take a 19.9% stake in Badlands Resources. There could be further contingent consideration of up to C$4m depending on the achievement of milestones. This will enable 80 Mile to focus on its projects in Greenland and Italy. The share price slipped 3.12% to 1.0075p.