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The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday. ---------- SMALL-CAP - WINNERS ---------- Ecora Resources PLC, up 5.7% at 79.24 pence, 12-month range 48.00p-80.40p. Shares in the critical minerals-focused royalty company rise for the third day in succession, taking its gain so far this week to more than 10%. Ecora reports it swings to a half-year loss of $10.9 million, from profit of $18.9 million. Royalty and metal stream related revenue shrinks markedly to $15.8 million from $49.5 million. ‘2025 is proving to be a significant year for Ecora as we continue to pivot towards a revenue profile underpinned by a growing critical minerals portfolio, with copper at its core,’ CEO Marc Bishop Lafleche says. The firm, which has assets in North America, South America, Africa, Europe and Australia, declares an interim dividend of 0.60 cents, down from 1.70 cents a year prior. The latest dividend represents 25% of ‘average free cash flow generated in the immediate two preceding six-month periods’, in line with its capital allocation policy. Ecora shares got a lift on Tuesday after it said it has agreed to sell a wholly-owned subsidiary which holds a 2% net smelter return royalty over the development stage Dugbe gold project in Liberia. The consideration is made up of a $16.5 million upfront cash payment, with a further $700,000 upon the start of project construction and $2.8 million upon commencement of commercial production. ---------- NARF Industries PLC, up 4.8% at 0.55p, 12-month range 0.26p-1.05p. The cybersecurity provider’s Ranger.ai Agentic AI threat and remediation platform wins ‘awardable’ status through a US Department of Defense marketplace. Securing the status through the P1 Solutions Marketplace is a ‘significant step forward for Narf’, Chief Executive Officer Steve Bassi says. Narf adds: ‘The P1 Solutions Marketplace is a digital repository of post-competition, 5-minute, readily-awardable pitch videos that address the US government’s most urgent requirements in hardware, software, and service solutions.’ ---------- SMALL-CAP - LOSERS ---------- abrdn European Logistics Income PLC, down 1.8% at 46.56p, 12-month range 46.00p-66.00p. The company’s net asset value per share at the June 30 falls 6.7% to 81.2 euro cents from 87.0 in March. The firm announced plans for a managed wind-down back in May of last year. Shareholders approved the move in July of the same year. ‘While lower eurozone rates have modestly improved the macroeconomic backdrop, ongoing trade tensions, monetary divergence and geopolitical risks continue to weigh on investor demand for logistics assets, factors which remain relevant to the company’s ongoing sales processes for the remaining ten assets. The board and investment manager remain focused on balancing value, execution certainty and speed of capital return,’ Chair Tony Roper says on Wednesday. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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