1st Dec 2025 10:46
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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East Star Resources PLC, up 29% at 2.73 pence, 12-month range 0.875p-2.6p. Announces a GBP1.8 million investment from FTSE 100 gold producer Endeavour Mining PLC, comprising a GBP96,600 equity subscription and a GBP1.7 million unsecured convertible loan note. Endeavour will subscribe for 4.2 million new shares at 2.3p, and the zero-coupon CLN converts at the same price, a 7% premium to the last close. On full conversion, Endeavour will hold 15% of East Star's enlarged share capital and will gain the right to appoint a board director as long as it maintains at least a 10% stake. The funding will advance exploration across East Star's Kazakhstan portfolio and support new project assessments and working capital. The investment follows the recently announced USD25 million gold exploration joint venture between the companies. CEO Alex Walker says Endeavour's backing strengthens East Star's position as it accelerates its gold and copper strategy heading into 2026.
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SMALL-CAP - LOSERS
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BSF Enterprise PLC, down 58% at 1.10p, 12-month range 1.325p-3.65p. Announces a capital raise of up to GBP15 million to accelerate the commercialisation of its lab-grown leather, cultivated meat and corneal repair technologies. The company will raise up to GBP5 million through a combination of convertible loan notes and prepaid warrants, followed by up to GBP10 million via cash-exercise warrants, subject to shareholder approval and publication of a prospectus. An initial GBP300,000 interest-free CLN provides immediate working capital while the larger fundraise is completed. BSF will also seek approval at a December 17 general meeting for a 12:1 share consolidation to create the necessary headroom for new securities. Chair Geoff Baker says the financing is "transformative", giving BSF the resources to accelerate commercial rollouts, boost marketing, pursue potential acquisitions and support subsidiary-level funding plans through 2026. Completion of the equity raise is targeted for January 30, 2026, pending FCA approval.
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Defence Holdings PLC, down 16% at 1.39p, 12-month range 0.0325p-4.1p. Shares in the defence technology platform fall in line with broader weakness across European defence equities, after US President Donald Trump strikes an optimistic tone on prospects for a Ukraine peace deal. Speaking aboard Air Force One, Trump says he was "optimistic" following talks between Ukraine and his administration, acknowledging Ukraine's "difficult little problems" – including a corruption scandal in President Zelensky's circle – which he described as "not helpful". He nevertheless says he believes "there's a good chance we can make a deal". Trump confirms that Special Envoy Steve Witkoff is set to meet Russian President Vladimir Putin in Moscow on Tuesday. Earlier on Sunday, Witkoff, Secretary of State Marco Rubio and other US officials held talks with a Ukrainian delegation in Florida. Rubio calls the talks "productive" with "additional progress", while Ukrainian delegation head Rustem Umerov says the discussions were "productive and successful."
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By Eva Castanedo, Alliance News reporter
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Related Shares:
East Star ResoEndeavour MiningBio-Sustainable Future EnterprisesDefence Holdings