WINNERS & LOSERS: Panther Metals rises; Sound Energy exits Morocco

Tue, 26th May 2026 11:10

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

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Main Market small-cap winners

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Imaging Biometrics Ltd, up 27% at 0.60p

Headlam Group PLC, up 11% at 46.55p

Aquila European Renewables PLC, up 8.9% at 15.25p

Kendrick Resources PLC, up 8.9% at 7.63p, raises GBP1.8 million in placing, subscription

Panther Metals PLC, up 7.7% at 140.00p, starts drilling at target in Canada

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Main Market small-cap losers

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Cindrigo Holdings Ltd, down 7.7% at 6.00p

abrdn Property Income Trust Ltd, down 7.4% at 1.95p

Cloudbreak Discovery PLC, down 7.1% at 0.65p

Alternative Liquidity Fund Ltd, down 6.5% at 2.15 US cents

Gem Diamonds Ltd, down 6.3% at 4.28p

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AIM winners

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Tern PLC, up 36% at 1.23p, issues GBP270,000 new Talking Medicines convertible loan notes

Bradda Head Lithium Ltd, up 28% at 3.65p, secures "key" Arizona drilling permit

IQE PLC, up 20% at 55.00p

Clean Power Hydrogen PLC, up 19% at 14.13p

Shoe Zone PLC, up 17% at 67.50p

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AIM losers

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Sound Energy PLC, down 41% at 2.75p, sells Moroccan interests

Union Jack Oil PLC, down 18% at 3.90p, swings to 2025 pretax loss

Mercantile Ports & Logistics Ltd, down 11% at 1.20p

Great Western Mining Corp PLC, down 11% at 4.32p

Jangada Mines PLC, down 10% at 1.35p

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Small-cap and AIM movers in focus:

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Kendrick Resources PLC, up 8.9% at 7.63p, 12-month range 0.15p-8.78p. The mineral exploration and development company raises GBP1.8 million via the issue of 25.2 million new shares at 7p each to directors, a US managed fund, a US family office and existing shareholders. The proceeds will be used to advance the Bonya rare earth project in Namibia, where a drilling programme is underway.

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Panther Metals PLC, up 7.7% at 140.00p, 12-month range 37.00p-145.00p. The Canada-focused mineral deposits exploration company starts drilling at the Awkward Conduit target, within its Obonga project in Ontario, Canada. It is targeting a conduit system with anomalous levels of nickel, copper and platinum group metals. "This is a discovery programme designed to test the Awkward conduit theory, which has generated by far the greatest level of interest from across the industry of any target within our portfolio. While the indicators we have assembled are extremely encouraging, the conduit model remains a geological theory that is currently being tested through drilling, and it is important that we remain cautious," says Chief Executive Officer Darren Hazelwood.

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Bradda Head Lithium Ltd, up 28% at 3.65p, 12-month range 0.70p-4.30p. The North American-focused lithium explorer secures a "key" drilling permit for the Whistlejacket lithium project in Arizona, US. The Arizona State Land Department approves the Whistlejacket exploration and drilling geological field operations plan. "This is an important development for Bradda Head Lithium Ltd that supports the rapid advancement of its Arizona lithium exploration portfolio. This is a key priority for Bradda," says Executive Chair Ian Stalker.

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Sound Energy PLC, down 41% at 2.75p, 12-month range 2.00p-13.00p. The transition energy-focused firm plans to sell Moroccan assets as part of an effort to "repair" its capital structure. The company agrees to sell its 20% stake in the Tendrara exploitation concession by selling all shares of Sound Energy Merijada Ltd to Managem SA. Sound Energy expects USD57 million in aggregate proceeds, subject to working capital adjustments. The proceeds comprise a nominal payment of one dollar for Sound Energy Merijada's shares, and repayment of loans made by Sound Energy to Sound Energy Merijada. Sound Energy's subsidiary Arran Energy Holdings Ltd will relinquish its 27.5% non-operating interest in the Anoual exploration permit and waive subsisting rights in the Grand Tendrara permit. It hopes that exiting the Tendrara and Anoual permits will ease future funding burdens, "allowing the company to focus on its next phase of growth".

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Union Jack Oil PLC, down 18% at 3.90p, 12-month range 2.10p-10.00p. The onshore exploration, development and production swings to a pretax loss of GBP6.9 million in 2025 from a GBP406,218 profit in 2024. Revenue falls 37% to GBP2.5 million from GBP3.9 million. The firm says it is confident the "successful transition of focus" to the US will drive further growth. "I am confident that an increase in drilling, appraisal and development activity currently being evaluated in the pursuit of growth from our balanced UK and US portfolios has the potential for notable value creation for shareholders," says Executive Chair David Bramhill.

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By Michael Hennessey, Alliance News reporter

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