Results from the Gazelle-1 well test are much better than Petro Matad (LON: MATD) believes is commercial. The well could go into production by the end of October and should double the company’s production. This will generate revenues and help Petro Matad to secure a farm-out deal to fund development of the 100%-owned Block XX in Mongolia. Flow testing is due to start at the Heron-2 well. Shore has a share value estimate of 6.1p. The share price jumped 36.4% to 1.125p.
Alien Metals (LON: UFO) joint venture partner West Coast Silver has commenced drilling of the phase 2 campaign at the Elizabeth Hill silver project. Alien Metals has a 30% fee-carried interest though to a decision to mine. The share price increased 19.4% to 0.185p.
Uruguay-focused oil and gas explorer Challenger Energy Group (LON: CEG) is recommending a bid from Sintana Energy Inc, which is on the TSX Venture Exchange. The offer is 0.4705 of a Sintana Energy share for each Challenger Energy shares. This is currently equivalent to 16.61p/share and values the company at £45m. The share price has not been this high since January 2022. There are plans for Africa-focused Sintana Energy to join AIM. The share price rose 10.9% to 12.75p.
Brazil-focused Jangada Mines (LON: JAN) has made progress with trenching and sampling at he Paranaita gold project. A 700 metre continuing vein mineralisation has been identified. Samples have been sent for analysis. The share price improved 4.65% to 1.125p.
In the three months to September 2025, Polar Capital Holdings (LON: POLR) increased assets under management from £19.9bn to £26.7bn. The growth came from market performance with a small net outflow of funds. Net performance fee profits are £15m in the six months to September 2025. The share price is 5.44% higher at 571.5p.
FALLERS
WH Ireland (LON: WHI) has fallen a further 18% to 1.025p ahead of the general meeting that appears set to reject the sale of the wealth management division.
Identity management software provider Intercede Group (LON: IGP) is trading in line with expectations with interim revenues of £8.2m, which is 44% of full year forecasts. Licence revenues were two-thirds higher at £1.44m. There have been some delays to US government contacts and there have been negative foreign currency movements. The share price fell 10.5% to 157p.
Gunsynd (LON: GUN) has sold is remaining shares in 1911 Gold Corporation and raised £711,000. It no longer has stakes in any quoted companies except for Richmond Hill Resources (LON: SHNJ) which is moving from Aquis to AIM. The focus will be exploration assets in Canada. The share price declined 5.56% to 0.17p.
Ex-dividends
Begbies Traynor (LON: BEG) is paying a final dividend of 2.9p/share and the share price decreased 1.75p to 114.25p.
Chistie Group (LON: CTG) is paying an interim dividend of 0.75p/share and the share price is unchanged at 112.5p.
Gateley (LON: GTLY) is paying a final dividend of 6.2p/share and the share price is 8.5p lower at 118.5p.
Judges Scientific (LON: JDG) is paying an interim dividend of 32.7p/share and the share price dipped 10p to 6210p.
Knights Group Holdings (LON: KGH) is paying a final dividend of 3.05p/share and the share price is unchanged at 191.5p.
Likewise (LON: LIKE) is paying an interim dividend of 0.14p/share and the share price fell 0.7p to 27.5p.
Manx Financial (LON: MFX) is paying a final dividend of 0.68p/share and the share price rose 0.5p to 27p.
Microlise (LON: SAAS) is paying an interim dividend of 0.6p/share and the share price is unchanged at 127.5p.
MP Evans (LON: MPE) is paying an interim dividend of 18p/share and the share price slipped 17.5p to 1332.5p.
Panther Securities (LON: PNS) is paying a dividend of 16p/share and the share price is down 20p to 290p.