Metals One, Arrow Exploration, IXICO, Ilika, IP Group - Small Cap Snapshot

Hello, you're watching Proactive. Here's a look at some of the small cap companies out with news this Thursday morning.

Metals One has agreed to buy full ownership of South African gold and power business Lions Bay Resources for 6 and a half million pounds in shares.

The key asset is the Barbruck Gold mine. The company's targeting first gold concentrate within six months of completion, with former Harmony Gold boss Graham Briggs set to become chair.

Arrow Exploration has hit record production of more than 6 and a half thousand barrels of oil equivalent a day. Two new wells at its Akako field in Colombia, adding a combined 1,452 barrels of oil a day gross.

The CEO says they've surpassed initial expectations.

Eco has announced two Alzheimer's disease contracts worth around 1 and a half million pounds combined. One's a phase 2 B trial with a biotech, the other an extension with an existing international client.

Both follow its 28% revenue growth update this week.

Ika has launched Orca, a new brand for deep sea batteries aimed at defense and marine markets.

The systems can operate at depths of up to 6,000 m without heavy pressure vessels. The company's also brought in a retired major general as a defense advisor.

And IP Group says UK University spin-outs attracted 1.56 billion pounds in the first half of 2026, but first time funding collapsed by more than two-thirds.

CEO Greg Smith is calling on the government to strengthen the enterprise investment scheme to help new ventures raise their first round.

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