The FTSE 100 ended the week at a new record high. London’s benchmark index advanced 0.8% to close at 10,124.60 points, with gains led by Glencore. Precious metals edged higher after data pointed to a slowdown in the US labour market last month.
Gold rose by 1.4% to $4,511 per troy ounce, lifting its gains over the past week to around 4%. Silver recorded a sharper advance, jumping 5% to $79.79 an ounce and extending its weekly increase to about 9%.
UK-listed energy groups also benefited, with BP shares rising by more than 2% and Shell climbing around 3% in New York trading. The gains followed a rise in oil prices to their highest level since last month, after Donald Trump issued warnings to Iran amid reports of escalating protests.
Gainers
Galantas Gold Corp topped the weekly gainers with a 200% surge (past month) after announcing an agreement to acquire the Andacollo Oro gold project located in Chile’s Coquimbo region. The transaction, concluded on Thursday, involves a formerly producing large-scale open-pit heap-leach operation, complete with existing infrastructure, regulatory permits, and comprehensive historical technical data. The asset holds measured and indicated mineral resources totalling approximately two million ounces of gold. The acquisition price of $32 million appears notably attractive for what ostensibly represents a mid-tier asset, though whether this proves to be the bargain it appears on paper remains to be determined.
Mobilityone Limited experienced a doubling in valuation during the week and has now appreciated more than 800% over the past month. The catalyst for this movement was a New Year’s Eve disclosure regarding regulatory approval to launch an Islamic banking operation.
CleanTech Lithium recorded a comparatively modest 55% gain following confirmation that it had appointed Cutfield Freeman as financial adviser. The mandate involves securing a strategic partner and structuring financing for its Laguna Verde project in Chile. This development coincides with the company approaching completion of a pre-feasibility study whilst advancing its application for a Special Lithium Operating Contract.
Alba Mineral Resources appeared to benefit from speculation surrounding Greenland and claims by the Trump administration regarding territorial ownership. The company holds a 51% interest in a critical metals project on the Arctic island, with shares concluding the week 61% higher.
Biopesticides developer Eden Research secured its second regulatory approval of the week after its fungicide Novellus+ received authorisation in Chile. The product is used on wine and table grapes to control grey mould (Botrytis cinerea) and powdery mildew (Uncinula necator). Earlier in the week, Eden announced that Mevalone had been approved in France for use on grapes to control downy and powdery mildew. The shares rose 8.2% to 3.3p.
Pulsar Helium reported that the Jetstream #5 appraisal well at its Topaz project in Minnesota has encountered an additional pressurised gas influx at a depth of approximately 2,857 feet. The newly identified gas zone is estimated to be around 1,292 psi, the highest pressure recorded at the project to date. Drilling is continuing before operations move on to the next well. Shares advanced 7.98% to 57.5p.
Stake-building activity drove Westmount Energy Limited up 50%, whilst Reabold Energy advanced 42% following approval for a gas project in Italy. Lords Trading Group, which retails DIY and building materials alongside garden furniture, exhibited signs of recovery despite declining 56% over the past year. The shares finished the week 5% higher.
Fallers
Among the week’s decliners, Jarvis Securities fell a further 33% following a late December update regarding the magnitude of potential liabilities associated with historic breaches of Financial Conduct Authority regulations, currently totalling £2.8 million. Over the preceding year, the stock has plummeted more than 80% and now commands a market capitalisation of just over £3 million, despite maintaining approximately £10 million on the balance sheet.
Shareholders in Indus Gas voted in favour of the company’s departure from AIM, which is scheduled to take effect on 23 January. Trading in the shares will subsequently be facilitated through a matched bargains service provided by JP Jenkins. The stock fell sharply, down 32.4% to 1.85p.
Shares in Gunsynd declined 30% after the explorer published what appeared, superficially, to be a benign update concerning its Barb gold project in Canada. The company confirmed completion of a full technical assessment of its 2025 field programme at Barb, where it holds 100% ownership. The market’s reaction, seemingly incongruent with the broadly positive tone of the announcement, may reflect concerns that Gunsynd could require additional shareholder funding, potentially through a share issuance to finance further work. With a market capitalisation of approximately £1.6 million, even a relatively modest capital raising would risk substantial dilution and would almost certainly be priced at a significant discount.
Shares in Engage XR Holdings declined 26% after the group reported a substantial revenue contraction, attributed to delays in contract signings and weaker demand from corporate clients. The AIM-listed artificial intelligence and spatial computing business anticipates full-year revenue of approximately €1.9 million for 2025, down from €3.4 million in the prior year. Management attributed the decline to lower-than-expected enterprise sales and renewals as a global hiring slowdown curtailed demand for training and onboarding solutions.
Galantas Gold saw its shares retreat amid profit-taking following a strong rally earlier in the week. The pullback followed news that the company is acquiring 100% of the Andacollo Oro gold project in Chile. Although the shares declined 15.2% on the day, they remain up around threefold over the course of the week.
ValiRx entered into a nine-month evaluation and material transfer agreement with McGill University and the Institute for Research in Immunology and Cancer. The collaboration will assess an RNA helicase inhibitor, with ValiRx retaining ownership of the evaluation results. These results may be exchanged for a 15% equity stake in a newly established company created to commercialise the technology. Shares fell 4.88% to 0.39p.
