UK small-cap RNS · 14 Nov 2025

Key = all announcements except routine filings (voting rights, buybacks, holdings, director forms), plus the ones that are part of a situation. Not investment advice.

1. 16:40
   RC Fornax PLC RCFX £4.5m

   Proposed Fundraising Fundraise

   Raises a minimum £2.25m at 6p, a 38.5% discount to the 9.75p close, after a FY25 loss and revenue fall. Heavy dilution; funds Procure X and working capital.

   Transformational contract / build-out £2.2m · 50% of mcapoutlook positive −35.9% on the day

   Moved: new: Fundraising and general meeting – Placing bookbuild launched; shareholder approval needed · new: Procure X marketplace build-out – Early development; Smart Scope at MVP · new: Post-SDR contract and framework pipeline – Advanced discussions with two defence primes
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2. 07:00
   Goldplat GDP £39m

   Q1 Operating Results and Dividend Results

   Q1 profit before tax of the two recovery operations rose to £2,372,000 from £1,451,000, helped by the gold price, South American supply and a one-off South African deal, so part of the gain may not recur.

   Legal & regulatory £0.2m · 1% of mcapoutlook mixedfirst since Oct 2023 +3.8% on the day

   Moved: new: TSF retreatment and pipeline – Awaiting permits; no timeline given · new: Brazil new plant build – About £100k of £200k spent · new: Ghana by-product export decree – Local beneficiation model being adapted
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3. 07:00
   Galantas Gold Corp. GAL £172m

   Acquisition of RDL Mining Corp. and Placement

   Buys RDL, which holds an option over the operating Indiana gold-copper mine, for about 132m shares (49.99% of the enlarged company). Gives a production and exploration project but heavy dilution and US$15m of option payments.

   Project milestones £5.3m · 3% of mcapoutlook positivefirst since Oct 2023 +0.0% on the day

   Moved: new: RDL acquisition and Indiana option – Share purchase agreement signed; awaiting approvals · new: Concurrent brokered financing – Agreed, awaiting TSXV approval · new: Indiana resource update and option payments – Resource update under way
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4. 07:00
   Supermarket Income Reit SUPR £1,141m

   Acquisition of €123m Carrefour portfolio in France

   Completes a sale-and-leaseback of Carrefour stores at a 6.6% NIY, funded by euro debt capped at 3.5%, so the spread is earnings-accretive. LTV rises to 40%.

   Large acquisition / reverse takeover outlook positive −1.4% on the day

   Moved: Blue Owl proceeds redeployment: £99.8m redeployed at 6.7% NIY → Fully redeployed at 6.6% average NIY (closed) · new: Debt-funded UK pipeline deployment – Targeting pipeline; debt capacity to be deployed
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5. 07:00
   Metals Exploration MTL £498m

   Runruno Operational and Production Guidance Update

   Annual gold production guidance is cut by 5,000oz to 65,000-70,000oz after the typhoon power and processing pause, pit clean-up schedule changes and the September cyanide contamination. Damage to core assets is not material.

   Project milestones outlook negative, lowered −1.6% on the day

   Moved: new: Runruno typhoon recovery – Clean-up under way; processing paused · new: Dupax drilling programme – Drill pads damaged; temporarily set back · new: La India construction – Construction progressing
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