Small Cap Feast

5th November 2026

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Our daily digest of news from UK Small Caps

* Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication.

** Arranged by type of listing and date of announcement.

*** Potential means Intention to Float (ITF)  or similar announcement has been made.

**** A corporate client of Hybridan LLP.

Dish of the Day

Admissions: 

None

Delistings:  

None

 

 
  

Banquet Buffet*

London Stock Exchange: Main Market and AIM

Cora Gold Limited 10.25p £72.70m (CORA.L)

The West African focused gold Company announced the latest assay results from the ongoing 2026 drill programme being conducted at its flagship Sanankoro Gold Project in southern Mali. The latest assay results have been received from the Dakounkoura South target, a greenfield target located along the northern end of the Sanankoro structure, 1km directly north of the Zone B North deposit. This drilling tested an area which has had very limited previous drilling, and successfully identified 500 metres of strike of a new and promising zone of oxide mineralisation within a 2km radius of the planned process plant. The 2026 drill programme aims to unlock the broader long-term potential of Sanankoro by testing both extensions to existing deposits and a number of highly prospective near-mine greenfield targets in order to expand the current JORC compliant MRE of 1,044koz at 1.04 g/t gold and extend the Reserve mine life beyond the 10.2 years outlined in the 2025 definitive feasibility study.

Critical Metals 92.5p £94.64m (CRTM.L)

The mining Company established to acquire mining opportunities in the critical and strategic metals sector announced the completion of 3D block modelling and confirmation of copper oxide mineralisation at the Molulu Copper/Cobalt Project in the Democratic Republic of Congo. The Company also announced that it is collaborating with a potential offtake partner to test a total of circa 300 kilograms of ore from existing stockpiles and evaluate sample recovery within the following Total Copper ranges: 1%-1.5%, 1.5%-2%, and >2%.

Forgent 0.11p £5.34m (FORG.L)

The Australian-focused critical and precious minerals explorer announced encouraging gold assays at shallow depth from multiple neighbouring drill holes at central Curley’s prospect within its Peak Hill project in Western Australia, where 30 holes totalling 1,406m were completed. As a result, Forgent will initiate immediate development drilling at Central Curleys. The gold assays from 5 metres downhole across multiple neighbouring holes strengthen the central Curley’s exploration opportunity, led by primary one-metre gold assays of up to 4.32g/t in CAC010 and 4.10g/t in CAC003, with 3.71g/t, 1.88g/t and 1.49g/t in other neighbouring holes. The strong grades are complemented by multi-metre gold bearing intervals including two seven metre gold bearing intervals from two drill holes of 7m averaging 2.32g/t gold from 26m in CAC010, including 1m at 4.32g/t from 28m, and 7m averaging 1.05g/t from 49m at CAC011 including 1m at 3.63g/t from 50m. The rig returns to site in the coming days to drill approximately 51 development holes at central Curley’s on 20x20m, 40x40m and 80x80m grids and an additional four deeper holes in Northern Curleys, after which drilling at Cathedral will likely continue.

GEO Exploration Limited 0.05p £3.82m (GEO.L)

The mineral resources and hydrocarbon exploration Company completed recent exploration activities at its Juno Gold Project in Western Australia, including a native title heritage survey, field reconnaissance and ground truthing of priority magnetic targets. The Company has also engaged Dr Finbarr Murphy to undertake a litho-structural geological interpretation and targeting exercise to guide the next phase of drill targeting.

Kromek Group 5.60p £35.71m (KMK.L)

The global detection Company delivering best-in-class solutions for the advanced imaging and CBRN (Chemical, Biological, Radiological, and Nuclear) detection markets announced that it has received a follow-on $1.4m order from an existing OEM customer in the Advanced Imaging division. The order is for the supply of CZT-based detector components for the customer’s medical systems. The Group will commence delivery immediately, which is expected to be completed over the next 12 months.

Manx Financial Group 21.00p £25.62m (MFX.L)

The diversified financial services group serving the Isle of Man and the UK provided an operational update for the quarter ended 30 September. The Group's progress is being principally driven by three complementary business areas: Conister Bank Limited's disciplined deployment of liquidity and continued operational improvement, Payment Assist Limited's expansion in line with the Group's medium-term strategy, and the development and potential monetisation of investments held through Manx Ventures Limited. Conister Bank delivered a strong Q3, with net interest income increasing by 9.6% to £10.3m with a total capital ratio of 16.1%. The new £40m Stafferton structured finance facility bolsters structured finance business, which now has over £313m of documented facilities in the market.

Oxford BioDynamics 0.115p £13.78m (OBD.L)

The 3D Genomics Company has entered into its first commercial agreement with a major pharmaceutical company for the use of EpiSwitch® Orion, its cloud-based 3D genomics platform, as part of a biomarker discovery programme in inflammatory bowel disease. The agreement is with Johnson & Johnson and follows OBD's first commercial Orion agreement, with the University of Oxford-led OPTIMISE psoriatic arthritis programme, announced on 28 July.

Shearwater Group 70.00p £15.25m (SWG.L)

The cybersecurity, advisory and managed security services Group announced that Brookcourt Solutions Limited has secured a strategic three-year contract with a major UK telecommunications provider, with a total value of approximately £9.2m. The agreement represents a three-year expansion of Brookcourt's existing relationship with the UK telecoms provider and combines the extension of existing cybersecurity services, increased deployment across the customer's estate and the award of a new cloud security requirement following the displacement of an incumbent provider.

Solvonis Therapeutics 0.105p £7.31m (SVNS.L)

The clinical-stage biotechnology Company developing psychedelic therapeutics for addiction, post-traumatic stress disorder and depression announced that the US Patent and Trademark Office has allowed its method-of-use patent application covering the treatment of all behavioural addictions with ketamine at dissociative doses of at least 50 mg. The allowance marks a major milestone for Solvonis, providing a broad US patent position across behavioural addictions, with substantial patient populations, significant unmet medical need and scope for multiple potential partnerships and licensing deals. Binge eating and gambling disorders are the first commercial priorities, representing large, underserved markets with limited or no approved medicines. The breadth of the claims provides a foundation for building a substantial behavioural-addiction business alongside Solvonis’ Phase 3 alcohol programme and NIDA-funded work on cocaine and methamphetamine addiction, expanding the Company’s commercial potential.

AQSE Market:

Adsure Services 30.0p £3.17m (AQSE:ADS)

The provider of audit and assurance services and the holding company for TIAA Limited updated on trading ahead of the publication of its interim results for the six months ended 30 September, which are expected to be announced in December 2026. The Board now expects revenue for the period to be approximately 17% lower compared with the corresponding period in the prior year, which is expected to lead to a loss being reported for the first half of the financial year. Trading has been adversely affected following the introduction of a new tool for resource allocation which has taken longer to implement than expected and the results of the first half of the financial year are expected to impact the financial performance for the full year.

What’s baking in the oven?**

Potential IPOs WIP:***

13 October: Voltage X, the AI-native creative and communications Company announced its intention to IPO onto AIM.  Founded in 2021 and headquartered in Melbourne, Australia, the Group provides public relations, digital marketing, content creation, marketing analytics and influencer management services to an international client base, with a primary focus on the real estate, hospitality, sports and retail sectors.  The Company intends to raise gross proceeds of US$3-4m by way of a placing.  Anticipated market capitalisation on admission is TBC and expected Admission date is mid-November 2026.   

5 October: Liberty Minerals announced its intention to IPO onto AIM.  The mineral exploration Company is focused on tungsten and associated minerals including antimony, molybdenum, copper, silver and zinc in Arizona and Idaho. On Admission to AIM, it will own the Boriana and Buckhorn projects, comprising unpatented mining claims on US Bureau of Land Management land. Boriana, historically one of Arizona’s principal tungsten producers, is the Company’s primary exploration focus, with Buckhorn a longer-term target. Liberty Minerals raised £662,000 through a pre-IPO fundraise in June 2026 and intends to raise further funds through a placing to finance exploration and development.  Deal details remain TBC and first day of dealings expected mid-November 2026.   

3 November: Atomic Metals announced its attention to IPO onto AQSE. The project acquisition, exploration and development vehicle seeking strategic commodity projects, is focused on critical and precious metals including but not limited to Copper, Silver, Uranium and Gold exploration opportunities, in mining positive jurisdictions. The Company plans to deploy extensive exploration programmes generating impactful news streams for investors. The countries of operation will likely include the USA, Canada and/or Australia but Atomic Metals will pursue what the Directors believe to be the best exploration opportunities feasible, but primarily focused in Tier 1 mining jurisdictions. The fundraise will be split into 2 tranches, a c.£720k pre-IPO Fundraising prior to Admission completed at 2.25p, and an additional circa (£1.3m to £1.5m) IPO Fundraise conditional on Admission at 3p per share. The expected admission date is 12 November 2026.

Market Movers:***

22 October: IntelliAM AI (AQSE:INT) The provider of AI-driven software solutions for the manufacturing and engineering sectors announced its attention to move to AIM from AQSE. It has conditionally raised approximately £6.3m (before expenses) through a placing of 8,919,598 new Ordinary Shares at 70p per Ordinary Share, and the conditional conversion of unsecured convertible loan notes with an aggregate principal value and accrued interest of £31,282 into 44,688 new Ordinary Shares pursuant to their existing terms, as set out in the Company’s announcement made on 7 July 2026. Admission is expected to become effective, and dealings in the Enlarged Issued Share Capital are expected to commence at 8.00 a.m. on 20 November 2026.

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