Reabold Resources (LON: RBD) has entered an agreement with Beacon Energy (LON: BCE) for the sale of its 46.2% stake in LNEnergy, which has a 90% interest in the Colle Santo gas field, for an earn-out that is valued at €16m in contingent consideration and €700,000 in shares. Beacon Energy will initially acquire 49% of the stake and the rest will be bought subject to the granting on the Colle Santo production concession. Contingent consideration is based on 25% of the acquired stake’s net cash flow from the project. First gas could be produced in 2027. Reabold Resources will take a 29% stake in Beacon Energy – the shares are currently suspended at 0.0039p. It needs to raise £3.5m to complete the deal and restart trading in the shares. The Reabold Resource share price is 18.2% higher at 0.065p.
Tan Delta Systems (LON: TAND) has received a £120,000 order from Shell Marine for real-time condition monitoring sensor equipment. The sensors will be fitted to engines in cargo ships. This tracks oil condition and equipment issues. There is a large pipeline of potential orders, but they have bene slow to convert. There are 17 active trials. The share price increased 16.7% to 24.5p.
Ironveld (LON: IRON) says 74%-owned Lapon Mining has signed an agreement with Daemaneng Minerals, which will be responsible for all mining at the Lapon site over the next five years. Daemaneng Minerals will fund £21.6m of capital and operation expenditure and this will be recovered from proceeds of sales. Mining should commence shortly. All ore will be supplied to Ironveld’s joint venture DMS plant. The share price rose 13.6% to 0.05p.
Veterinary practices operator CVS Group (LON: CVSG) had a stronger fourth quarter and this is continuing into the new financial year. Both the UK and Australian markets remain tough, but further acquisitions in Australia have increased the scale of the business. In the year to June 2025, revenues were 5% higher at £673.2m, while pre-tax profit was flat at £78.9m. The final dividend is 6% higher at 8.5p/share. The CMA provisional decision on the vets market is due this month, but the uncertainty is likely to continue to be the background to the UK business in this financial year. The share price improved 9.92% to 1374p.
FALLERS
First Development Resources (LON: FDR) says deteriorating conditions at the base of the Canning Basin sedimentary sequence at the Wallal project mean that the drill hole could not reach the planned depth of 1,220 metres. Drilling has ceased and the next step is being assessed. The share price dived 50.6% to 4.4p.
Future Metals NL (LON: FME) is leaving AIM after four years on the junior market and concentrating on the ASX listing from 5 November. Depositary Interest holders will have an opportunity to become registered shareholders. It has been difficult to raise money in the UK and liquidity has been weak. The share price slumped 28.6% to 1.25p.
United Oil & Gas (LON: UOG) is raising £2.33m at 0.15p/share. This will finance the technical work and exploration for the Walton Morant licence, offshore Jamaica. Tennyson Securities has a target share price of 1.5p. The current share price is 11.9% lower at 0.145p.
Neil Elton is stepping down as finance director of digital services provider Made Tech (LON: MTEC). He has a six month notice period. The share price fell 7.19% to 32.25p.