Orcadian Energy (LON: ORCA) has started the assessment phase for the development of the Earlham and Orwell gas fields on the P2680 licence. The preferred option is an offshore power station and carbon capture, with power used for an offshore data centre. The Earlham field has high levels of carbon dioxide means it is not good for sale via pipeline. A new company called Earlham Gigagrid will be formed for the project. The share price jumped 55.1% to 19p.
Arlington Capital Partners (ACP) has made an agreed bid of 1230p/share in cash for photonics company Gooch & Housego (LON: GHH) and shareholders will also retain the 4.9p/share interim dividend. This values Gooch & Housego at £345.6m. ACP already owns businesses in the defence and other sectors that Gooch & Housego is involved in, and it believes that growth can be accelerated with greater financial backing. The share price soared 42.7% to £12.10.
Sustainable additives producer Itaconix (LON: ITX) increased interim revenues 72% to $8.3m with dishwasher demand continuing to rise. Guidance for revenues has been raised from $13.3m to at least $14.8m. There was growth in North America and Europe. Gross margins are improving. This should be enough to breakeven and invest more. There is plenty of spare capacity to grow into and new products are being developed. Itaconix, which normally provides ingredients, will supply dish detergent tablets to a North American brand. They will be in the shops by the end of the year. The share price gained 38.7% to 150.5p.
Ronald Lansdell has reduced his stake in Jersey Oil and Gas (LON: JOG) from 3.27% to 2.97%. The share price recovered 31.3% to 128p.
FALLERS
Infill Capital Partners says that it does not intend to make a bid for hostels operator Safestay (LON: SSTY). The indicative bid could have valued the company at £40.9m. NAV was 22.21p/share at the end of 2025. Net debt was £18.6m. The share price fell back 51.1% to 13.2p.
Phosphate producer Kropz (LON: KRPZ) says its subsidiary that operates the Elandsfontein mine has agreed a $12.3m loan facility with Ubunto-Botho Investments. Mining volumes have been hampered by variability of the ore body. There have also been cost increases. In the quarter to June 2026, 95,956 tonnes of phosphate was produced, which was down 17% on the previous quarter. There was 94,000 tonnes in stock at the end of the period. This has increased working capital requirements. The share price decreased by one-quarter to 0.9p.
Galileo Resources (LON: GLR) shares are also one-quarter lower at 0.6p. The company says that two of its 75%-owned mining licences no longer appear on the Zambian Mining Cadastre portal. A formal complaint has been made, and the cancellation has been challenged in court. Mopani Copper Mines is contesting ownership of the licences. Discussions with potential partners have been paused.
Guardian Metal Resources (LON: GMET) believes that its non-core assets provide potentially considerable value. They continue to be progressed while options are being assessed. The share price declined 21.2% to 145p.