SMALL-CAP WINNERS & LOSERS: Gem Diamonds jumps on production figures

Wed, 04th Feb 2026 10:37

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

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SMALL-CAP - WINNERS

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Gem Diamonds Ltd, up 61% at 4.60 pence, 12-month range 11.95p-2.50p. The Lesotho-focused diamond miner says all operation metrics for 2025 are within or ahead of its revised guidance. It recovers 20,961 carats in the fourth quarter, resulting in a total of 90,354 carats for 2025, compared to 105,012 for 2024. It notes that after the end of the year, a 193 carat white type two diamond was recovered.

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SMALL-CAP - LOSERS

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Atlas Metals Group PLC, down 27% at 11.00p, 12-month range 65.00p-6.60p. The natural resources and energy investor agrees "at-the-market" facility with Axis Capital Markets worth up to GBP10 million. It says the facility forms part of the funding arrangements to support working capital requirements, meet historic creditor obligations and fund costs associated the company's proposed reverse takeover of Universal Pozzolanic Silica Alumina. Under the facility, Atlas Metals will issue 720,820 shares, equal to 3.0% of share capital. "The establishment of the at-the-market facility provides the company with additional flexibility to support its funding requirements as we continue to progress the proposed acquisition," says Chief Executive Officer Chris Chadwick.

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Aterian PLC, down 7.7% at 27.15p, 12-month range 58.00p-21.00p. The London-based critical mineral exploration and development company focused on Africa confirms presence of highly saline, alkaline, sodium-rich brines across Sua Pan bring project in Botswana. "These results introduce a potentially attractive industrial minerals development pathway, alongside continued evaluation of the basin for various critical minerals," it says. "This programme has materially advanced our understanding of the Sua Pan basin. The identification of strongly soda-type brine chemistry is highly encouraging and opens a potentially attractive opportunity for industrial minerals development," says Executive Chair Charles Bray. "Soda ash is a globally important chemical feedstock, and natural brine-hosted systems can offer compelling development economics. These results allow us to assess Sua Pan through a broader, value-focused lens as we consider the next phase of work and evaluate potential development or strategic outcomes for the project."

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By Michael Hennessey, Alliance News reporter

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