SMALL-CAP WINNERS & LOSERS: Upland wins USD100 million funding

Fri, 23rd Jan 2026 10:35

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

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SMALL-CAP - WINNERS

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Upland Resources Ltd, up 6.8% at 3.15 pence, 12-month range 4.20p-0.81p. The Jersey-based oil and gas company receives a letter of financial commitment from Wild Mustang Upstream, confirming its intention to make available USD100 million to support Upland's upstream oil and gas activities across its Southeast Asian portfolio between 2026 and 2030. The funding commitment is to support target assets in exploration, appraisal and development in Sarawak, Brunei Darussalam and Indonesia. It is to be deployed through farm-in arrangements, where Lost Soldier Oil and Gas, the parent of Wild Mustang, may participate in specific licences by funding agreed work programmes. "This strategic cooperation with Lost Soldier represents an important milestone for Upland as we continue to build a material, scalable upstream position in Southeast Asia. Securing access to long-term, project-aligned funding significantly enhances our ability to progress high-impact exploration and appraisal opportunities in a disciplined and phased manner," says Chief Executive Officer Bolhassan Di.

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abrdn European Logistics Income PLC, up 5.8% at 27.60p, 12-month range 65.75p-22.45p. The property investor completes sale of further asset in France as part of its shareholder-approved managed wind down for EUR7.9 million. It says the price for the cross-dock parcel hub in Gevrey, Dijon is in line with its third quarter net asset value. Following this sale, 23 of the original 27 assets have now been sold. The firm says a further asset sale agreement has now been signed and is expected to complete before the end of the first quarter.

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SMALL-CAP - LOSERS

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GreenX Metals Ltd, down 7.5% at 48.55 pence, 12-month range 57.75p-32.60p. The mining company requests an immediate voluntary trading halt in its shares on the Australian Securities Exchange, pending an announcement of a proposed capital raising. It requests the halt remain in place until the earlier of an announcement being made or next Wednesday. Trading in London and Warsaw will continue during this period.

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By Michael Hennessey, Alliance News reporter

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