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#BRES Blencowe Resources PLC – Successful Hypersonic Rocket Testing
Blencowe Resources Plc (LSE: BRES) is pleased to report further successful testing of Orom-Cross graphite products within advanced aerospace and defence applications.
On 18 August 2026 American Energy Technologies Co (“AETC”), Pluto Aerospace, Purdue University and US Government Agencies, together with Blencowe COO Iain Wearing, attended a rocket test programme in Las Cruces, New Mexico. The successful Pluto Aerospace solid-fuel rocket flight achieved a maximum speed of Mach 5.5 and acceleration approaching 150G, representing a substantial increase in speed and acceleration from the previous test programme undertaken in April.
Importantly, Orom-Cross graphite was incorporated across multiple critical components aboard the hypersonic vehicle, including an ablative rocket nozzle insert, performance-enhancing coatings applied to the rocket fins and natural graphite used within the lithium-ion battery powering the rocket’s altimeter.
The successful test further demonstrates the potential for Orom-Cross graphite to access specialist, high-value aerospace and defence markets, supporting Blencowe’s strategy to continually develop higher-value product pathways as Orom-Cross advances towards production.
Highlights
· Successful hypersonic rocket flight in the USA incorporating Orom-Cross graphite across multiple critical components
· Pluto Aerospace rocket achieved a maximum speed of Mach 5.5 and acceleration approaching 150G
· Orom-Cross graphite incorporated within an advanced ablative rocket nozzle insert manufactured by AETC
· Orom-Cross natural graphite used in performance-enhancing anti-friction and ice-phobic coatings applied to the rocket fins
· Lithium-ion battery powering the rocket’s altimeter used natural graphite supplied by Blencowe alongside recycled graphite, with zero synthetic graphite
· Successful testing further demonstrates the potential for Orom-Cross graphite within high-value aerospace and military applications
· High-end defence applications provide potential pathways to new strategic offtake relationships and funding opportunities
· Continued collaboration with US graphite technical specialist AETC is opening further value-added applications for Orom-Cross graphite
· Further orbital testing planned for Q4 2026
Blencowe provided graphite concentrates from Orom-Cross to technical partner AETC, which manufactured mouldings for rocket and missile exhaust nozzles replacing a proportion of the synthetic graphites normally used in these applications. The resultant nozzles underwent rigorous testing prior to installation on the rocket.
The initial testing programme is being undertaken with Pluto Aerospace for hypersonic sub-orbital rockets, with orbital testing planned for the final quarter of 2026.
The successful flight conducted on 18 August 2026 utilised a substantially larger motor than the previous test undertaken in April, achieving a maximum speed of Mach 5.5 and acceleration approaching 150G.
In addition to the highly innovative rocket motor, Orom-Cross graphite was incorporated into several important components aboard the hypersonic vehicle:
· an advanced ablative nozzle insert manufactured by AETC for enhanced thrust performance;
· performance-enhancing anti-friction and ice-phobic coatings applied to the rocket’s four aluminium fins; and
· natural graphite used within the lithium-ion battery powering the rocket’s altimeter.
Of special note is the application of 3.8 Ah pouch cells, manufactured by Navitas Systems incorporating manufactured natural graphite supplied by Blencowe together with recycled graphite produced through AETC’s direct recycling process. The battery incorporated up to 15 wt.% recycled and “healed” graphite produced through AETC’s direct recycling process and represents the first known example in the North American battery industry of a fully functional form-factored battery incorporating industrially manufactured recycled graphite as a significant component of both the active material and cathode conductivity additive.
Importantly, the battery, comprised of 100% natural flake graphite from raw and recycled materials, with no synthetic graphites, further demonstrating the potential for Orom-Cross graphite to be utilised within specialist, high-value military and aerospace applications.
With the launch of this rocket, Pluto Aerospace and AETC highlighted a group of trusted vendors and raw material suppliers involved in the programme, including Navitas Systems, an advanced U.S. battery manufacturer; Blencowe Resources plc, the supplier of Orom-Cross graphite used in rocket nozzles, battery and ice phobic coatings aboard the flight; and Cadoux Limited, a supplier of nanoscale alumina used as a critical safety component of lithium-ion batteries.
Executive Chairman Cameron Pearce commented:
“These results continue to highlight the emergence of Orom-Cross graphite as an important source of high-quality graphite products for use in military and aerospace applications. There are relatively few graphite projects worldwide capable of supplying the quality of products required for these specialist applications, which may open new offtake relationships and strategic opportunities and places Orom-Cross in a strong position moving forward as we advance towards first production.”
As we complete funding for P1 Production and move to building the first stage of operations, we are continuously testing new products and adding new offtakers, each of which builds further value within the Project. Our strategy is to differentiate Orom-Cross from other graphite projects by targeting the most lucrative markets available to us, through both our products and strategic relationships.”
For further information please contact:
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Blencowe Resources Plc |
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Sam Quinn (Director) |
Tel: +44 (0)1624 681 250
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Sasha Sethi (Investor Relations) |
Tel: +44 (0) 7891 677 441
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Tavira Financial (Joint Broker):
Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
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Oak Securities (Joint Broker): Mungo Sheehan / Jerry Keen |
Tel: +44 (0)20 3973 3678 |
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Cavendish (Joint Broker):
Neil McDonald / Peter Lynch / Hanna Leijonmarck |
Tel: +44 (0) 20 7908 6000 |
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Diagram 1 : Showing latest Pluto rocket tested using Orom-Cross graphite
Diagram 2 : Rocket nozzle utilising Orom-Cross materials
Diagram 3 : Rocket Fins with Orom-Cross Ico phobic coatings applied to four sides (different samples), plus control sample (beige side)
Diagram 4 : Battery cell composed of 85% natural graphite (Orom-Cross) and 15% recycled graphite
Quoted Micro 31 August 2026
AQUIS STOCK EXCHANGE
Roundhouse AI (ETHL) plans to move to AIM to help with the progress in developing and enhancing the profile of its AI agent deployment infrastructure. No timing has been indicated. Net assets were £823,000 at the end of June 2026. The company joined Aquis as Roundhouse Digital on 30 January 2026. It was then an AI technology company with an Ethereum-denominated treasury. There was £1.1m raised at 4p/share. The company was valued at £10m. In July, Roundhouse AI sold all its 469.63246 Ethereum holding at an average price of $1,890.43 each. The cash will be invested in AI operations.
Valereum (VLRM) says the definitive agreement with Quorium Global Photonics (QGP) has become unconditional. Valereum has issued 55 million shares to QGP, taking its stake back to 49.9%, and has received a first-ranking security interest over mining interests in Queensland, Australia. Valereum has received 275,000 VGOLD-CORE+ tokens, with the remaining 4,500 tokens in escrow.
VVV Sports (VVV) says more than 20,000 spectators attended the London Premier Padel P1 tournament in August. There was UK media coverage of the tournament and subsidiary R3’s players.
Delta Gold Technologies (DGQ) has granted options over 300,000 shares exercisable at 148p each to advisers Professor Harry Ruda and Professor Kenneth Knappenberger Jr.
Ajax Resources (AJAX) chief executive Ippolito Ingo Cattaneo bought 200,000 shares at 6.5p each, taking the shareholding to 16.8%. Michael Hutchison bought 150,000 shares at 6.4p each, taking his shareholding to 3.85%.
Coinsilium Group (COIN) says that following achievement of agreed milestones for Nijinn, the Predictive Labs prediction markets analytics platform, it has subscribed for $100,000 of preference shares, taking the stake to 14.9%.
Hot Rocks Investments (HRIP) investee company Sunshine Gold has raised $1.02m via a convertible note. The company’s name will be changed to Suncrest Gold before a planned ASX listing. A tenement application has been lodged over a gold target in West Kimberley called the Kimberley King project.
Rise Investments has increased its stake in B HODL (HODL) from 7.63% to 8.24%. Adam Back took his stake above 26% and it was then reduced to 25.8%.
AIM
Caledonia Mining Corp (CMCL) has reported a maiden mineral resource for the Motapa prospect in Zimbabwe, which is next door to Bilboes, which should be in production by the end of 2028. The resource is 379,000 ounces of gold in measured and indicated categories and 131,000 ounces of inferred resource. This is before additional exploration this year. The Blanket mine, which is generating revenues for the company, has added further resource not just underground, but for the first time a shallow resource. The shallow oxide resource is 22,000 ounces of gold at surface and will be easier to mine adding to the cash generation possibly as early as the second half of 2026. This will provide additional cash to finance the development of Bilboes, which could cost around $600m.
Tungsten West (TUN) has secured investment of up to £71m from the National Wealth Fund. This is via a £36m equity investment at 36p/share, for a 7.42% stake in Tungsten West, and a £25m debt facility, plus a £10m uncommitted accordion facility. The UK government has an opportunity to secure an offtake agreement for up to 50% of tungsten production at the Hemerdon project. First production is targeted for the third quarter of this year and there are also offtake talks with a downstream tungsten refiner.
Staffing firm Empresaria (EMR) interim pre-tax profit has rebounded 256% to £3.2m and this led Allenby to rise its full year forecast from £5.2m to £6.2m. There was 5% growth in net fee income and costs were reduced. Net debt was flat at £17m.
Resources explorer and developer 80 Mile (80M) says that the Ferrandina biodiesel plant in southern Italy has received European sustainability accreditation. This means that the biodiesel should attract a premium price.
Canaccord Genuity has published a flash note on Kooth (KOO) suggesting that the $18bn Meta settlement has highlighted the mental health of youths and US state clients of Kooth mental health services are due to receive significant amounts of cash. The California attorney general claims that the money is earmarked for mental health and Kooth could receive additional work.
Diagnostics firm EDX Medical (EDX) has raised £2.7m at 14p/share. The cash will fund the new employee health screening service. Discussions continue with three potential clients, and two more companies have approached EDX. The company had expected to report 2025-26 revenues of £1.2m, but the auditors have advised that £860,000 should be deferred into 2026-27.
Surveillance technology supplier Thruvision (THRU) has received an order from government in Canada for the 8108 WalkTHRU equipment. It will be used for screening visitors to the council chambers. There have also been other orders in Europe.
Transport software and technology supplier Tracsis (TRCS) says group full year revenues improved from £81.9m to £85.5m and EBITDA rose from £12.6m to £13.5m. Cash was £19.4m at the end of July 2026 before the proceeds of the events business disposal and the acquisition of Mistral Data.
Building products supplier Alumasc (ALU) has sacked its new chief executive Pamela Bingham after an investigation into her professional conduct. The 2025-26 results will be published on 15 September.
Vast Resources (LON: VAST) has been admitted as a member of Defense Industrial Base Consortium and the Cornerstone Consortium. This puts the company in a position to interact with organisations involved in critical mineral supply chains in North America.
Southern Energy Corp (SOUC) expects to report the result of the Terrible Creek 21-2 #2 oil well in September. This is on the Williamsburg field and if the well is successful then another will be drilled before the end of the year. Southern Energy Corp announced that its second quarter production was 3% higher than the previous quarter at 1,743 barrels of oil equivalent per day, but lower prices meant that revenues were one-quarter lower at $4.2m. Cash generated from operations was $700,000 and cash was $8.6m at the end of the period.
Jarvis Securities (JIM) says that no offers have been received for its operating subsidiary and it will be wound down. There is no value in the subsidiary, and the board is considering returning any remaining capital to shareholders.
Trellus Health (TRLS) has appointed Quantuma Advisory as administrator. No return is expected for shareholders.
Sutton Harbour (SUH) has to refinance its debt, and a strategic review has decided it would be best to leave AIM. Annualised savings of £200,000 will be made. Net debt is £26m. The property portfolio was worth £45.7m at the end of March 2026, and properties worth £4.74m have subsequently been sold and helped to reduce debt. Further disposals are planned and there will be returns to shareholders.
MAIN MARKET
BATM (BVC) has nearly completed the sale of non-core operations so that it can concentrate on cyber and networks. First half revenues from those activities were 9% ahead and operating profit improved. Networks was loss making and cyber was profitable. Net cash was $14.6m at the end of June 2026. Trading is improving in the second half. A small 2026 pre-tax profit is forecast.
Packaging manufacturer and distributor Macfarlane Group (MACF) interims were in line with expectations. Revenues were 2% ahead, but volumes were flat. Pre-tax profit was 9% lower at £7.2m. The second half is expected to be better. The performance of the Pitreavie factory should recover.
#KDNC – Zeus Capital Cadence Minerals Azteca refurbishment nearing completion and operating licence application submitted
-Cadence has provided an update as it prepares the Azteca plant for production – refurbishment remains ahead of schedule at 97% physical completion.
-Most significantly, the electrical systems and circuits – a recognised critical path – are ahead of planned timelines
-Revenues from Azteca will reduce investors’ exposure to dilution as Cadence progresses the final feasibility study for Amapá. We see fair value at 14.6p per share.
#MDH Mendell Helium PLC – Issue of Equity, TVR & Director Dealing
Mendell Helium (LON: MDH), the helium production company with operations in Kansas, announces that, in accordance with his share-based remuneration arrangements announced on 23 June 2025, Nick Tulloch, Chief Executive Officer, will receive 562,500 new Ordinary Shares (“New Shares”), as payment in lieu of £22,500 of accrued remuneration for the period from 1 April 2026 to 30 June 2026. Mr Tulloch will receive a further 1,500,000 new Ordinary Shares (“New Shares”), as payment of a £60,000 bonus following admission of the Company’s ordinary shares to trading on AIM in June 2026. The New Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s fundraising announced on 30 April 2026.
Following this issuance, the total number of Ordinary Shares that will be held following Admission by Nick Tulloch, a Person Discharging Managerial Responsibility (“PDMR”), is as follows:
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Name |
New Ordinary Shares to be issued |
Total Ordinary Shares held in the Company following Admission |
Percentage of the Company’s enlarged issued ordinary share capital following Admission |
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Nick Tulloch |
2,062,500 |
8,386,4831 |
2.43% |
1Including shares held by his spouse and Fetlar Capital Ltd, a company controlled by Nick Tulloch and his spouse.
Additional Issue of Equity
The Company has agreed to issue and allot 1,087,500 new Ordinary Shares (“New Shares”) as payment in lieu of approximately £43,500 of accrued fees owed by the Company to professional advisers. The majority of these accrued fees represent investor relations support in the period from 2024 through to 2027. These New Shares will be issued at the same price of 4.0 pence per share, being a price equal to the issue price of the Company’s fundraising announced on 30 April 2026.
Admission
Application will be made for the 3,150,000 new Ordinary Shares to be admitted to trading on AIM (“Admission”). Admission is expected to occur at 8:00 am on or around 27 August 2026. The New Shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company’s enlarged share capital will comprise 345,036,938 ordinary shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 345,036,938. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com |
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Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 |
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SI Capital Limited (Broker) Nick Emerson
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Tel: +44 (0) 1483 413500 |
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Fortified Securities Guy Wheatley
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Tel: +44 (0) 203 4117773
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Tel: +44 (0) 20 3973 3678 |
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AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608
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Overview of Mendell Helium
Mendell Helium is a helium producer in Kansas, USA where it operates through its wholly owned subsidiary M3 Helium.
M3 Helium’s flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium has subsequently drilled and completed a second well, Rost 2-26, which is currently being de-watered. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. It has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day.
At the Rost wells in Fort Dodge, M3 Helium treats the raw gas on site to concentrate the helium and has leased two tube trailers which it uses for deliveries to its offtaker.
M3 Helium also has interests in five producing wells (Peyton, Smith, Nilson, Bearman and Dimmitt) within the Hugoton gas field in South-Western Kansas, one of the largest natural gas fields in North America. Significantly these wells are in the proximity of a gathering network and the Jayhawk gas processing plant meaning that producing wells are all tied into the infrastructure.
Quoted Micro 24 August 2026
AQUIS STOCK EXCHANGE
Ajax Resources (AJAX) has agreed to acquire a 74.79% stake in the Paguanta project in Chile. The initial consideration is $50,000 in cash and $350,000 in shares at 25p each. Deferred consideration is $500,000 in cash when there is a JORC proven and probal ore reserve of more than 25 million metric tonnes at a grade of 5% or greater zinc and $500,000 in cash when there are least five million tonnes of contained metric tonnes of copper as part of proven and probable reserves. The option to buy Minerva Metals has been terminated. Chief executive Ippolito Catteneo bought 473,983 shares at 6p each and director Richard Heywood acquired 163,639 shares at 6.111p each. Edison has published research.
Oberon Investments (OBE) has raised £1.4m at 2.1p/share, which was the then market price, and this will provide working capital. At the end of March 2026, there was £1.95m in the bank. Last year, revenues increased from £9.36m to £11.7m. Investment management income rose from £5.77m to £7.64m and the contributions from corporate finance and financial planning also increased. Funds under management and administration were £1.4bn. The underlying operating loss increased from £3.87m to £4.74m. New teams appointed last year will contribute in the current financial year.
Cooks Coffee Company (COOK) systemwide store sales in the UK and Ireland grew 14% in the first quarter to June 2026, compared with the first quarter of last year. UK growth was slightly faster than that figure, although like-for-like sales growth was 1.4% compared with 2.7% in Ireland. There are 84 stores in the UK and 26 in Ireland.
VSA Capital (VSA) is asking shareholders to agree to a 10,000-for-one share consolidation at the AGM on 10 September.
Bitcoin investor B HODL (HODL) has started a new tranche of share buybacks because the share price is a discount to NAV.
Asia Wealth Group (AWLP) increased full year pre-tax profit from $2,000 to $31,000. The company is seeking acquisitions. There is cash in the bank of $842,000.
Coinsilium Group (COIN) says joint broker Oak Securities has initiated research.
Castlefield Investment Partners decreased its stake in Capital for Colleagues (CFCP) from 37.4% to 34.2%. Livia Hannah Meyer’s stake in Global Connectivity (GCON) is down from 10.2% to 9.49%, and Chris Akers shareholding was reduced from 6.5% to 3.04%, while Keith Harris raised his stake from 12.4% to 22.7% and Chris New increased his stake from 9.91% to 14.9%
Lift Global Ventures (LFT) director Mark Horrocks bought 4.175 million shares at 0.45p each, taking his holding to 19.96%, and fellow director Sandy Barblett bought the same number at the same price, taking his stake to 4.37%.
JP JENKINS
H and H Group (HHG), which is a livestock auctioneer, land agency and property services provider, joined JP Jenkins private trading platform on 17 August.
AIM
Vast Resources (VAST) shares returned from suspension following the completion of the reverse takeover of Gulf International Minerals. The sellers own 80.2% of the enlarged company. This brings a 49% interest in the Aprelevka joint venture, which has four mining licences in the Tien Shan gold belt. These produce 11,000 ounces of gold and 130,000 ounces of silver each year from mining and tailings. There was £7.8m raised at 6.25p/share following a 25-for-one share consolidation.
Small business finance provider Time Finance (TIME) is recommending a bid from Ultimate Finance, which itself was taken private when it was an AIM-quoted company. The offer is 59.1p/share, which values Time Finance at £55.1m. Both companies are focused on smaller businesses, while Ultimate Finance also provides property bridging loans. The three largest Time Finance shareholders back the bid.
Biotech company TheraCryf (TCF) is raising £1.05m at 0.18p/share. This will help to finance the clinical programme for the Orexin-1 antagonist addiction asset. There are plans to seek partnerships for the company’s neuropsychiatry assets. TheraCryf wants to complete the Orexin-1 programme and then secure a partner or out-licence deal. This would provide funds for further financial trials. There is already interest from potential partners. There is an accelerated pathway to gain approvals for phase 1 clinical trials. Cash should last until the first quarter of 2027.
Recruitment firm Gattaca (GATC) reported a strong trading update with net fee income 11% ahead at £43.2m. It is on course to increase pre-tax profit from £3.3m to £6.1m.
M2G boiler optimisation technology provider Sabien Technology (SNT) says discussions continue with Haydale (HAYD) and Intelligent Resource Management about a UK distribution agreement. The previously announced investment and financing framework will not go ahead. This means that the strategic investor group will not buy the Richard Parris shareholding. His group will continue to provide financial support to the company. Non-core activities are being reviewed.
Midlands-based property investor Real Estate Investors (RLE) continues to reduce debt. There are £15.7m of assets under offer with £10.7m exchanged or completed at 92% of 2025 book value. The existing pipeline of sale should repay debt. Timing of sales is uncertain and Panmure Liberum has halved its 2026 disposal expectations to £20m. There have been new lettings generating £400,000 of additional annual rents.
Surveillance systems supplier Synectics (SNX) reported a decline in interim revenues from £35.5m to £22.2m. This was partly due to a one-off contract in the previous period and meant that a pre-tax profit of £3m was turned into a loss of £443,000. The order book is worth £26.4m. There will be a more normal second half weighting this year, although the Middle East conflict creates uncertainty. EBITDA is expected to be between £3.7m to £4.1m.
Digital transformation services provider Made Tech Group (MTEC) has won a £40m contract with an unnamed UK government department. This contract lasts four years. The pre-tax profit forecast for the year to May 2026 has been raised from £4.6m to £4.9m following a previous trading statement and the 2026-27 figure has been increased from £5.6m to £6m due to the initial income from the new contract. Net cash is expected to be £14.5m at the end of May 2026.
Empire Metals (EEE) says the updated mineral resource estimate for the 70%-owned Pitfield titanium project shows it is the largest titanium resource in the world. The figure has increased to 8.16Bt at 4.3% TiO2 for 349 million tonnes of contained TiO2. The initial measured resource is 21.6 million tonnes of contained titanium. This is enough to move to the mine planning stage. Zeus has increased its fair value share price estimate from 84p to 144p, just based on the near-surface zone which has 194.5 million tonnes of TiO2.
Pageant Investments has taken a 7.24% stake in Everyman Media (EMAN), which is expected to make an announcement about its proposal to leave AIM following talks with shareholders.
Energy as a service provider eEnergy (EAAS) has been hit by delays to payments of £3.2m relating to completed work on the Mace project. Paperwork is still being completed. The company has agreed to an extension to the repayment of the £500,000 owed to Harwood Holdco to February 2027. An additional £500,000 loan is being provided by former director Nigel Burton.
Great Western Mining Corporation (GWMO) has commenced drilling at the Defender tungsten project in Nevada. This should deliver a maiden mineral resource estimate by the end of 2026. The initial results will be available in September and October.
Talisman Metals (TLM) has raised £501,800 at 7p/share. the cash will finance exploration at the Tirzzit copper project and the Fougnar copper project in Morocco.
MAIN MARKET
Motor dealer software provider Pinewood Technologies (PINE) has recommended a 448p/share cash offer from Ridgeview Partners. This values the company at £545m. An alternative is an unlisted limited liability company in interest in Rollover Holdco for each share.
Mila Resources (MILA) says geophysical results from the Monal copper gold project in Queensland were highly positive. A clear target has been identified at the Basilica prospect. There are veins at surface that could reflect a deeper anomaly. Drilling is underway at the Yarrol gold project.
First Tin (1SN) has updated its definitive feasibility study for the Taronga tin project in Australia. This has increased the project value. Using $40,000/t for the tin price, which is well below the current price, and including the phase 2 extension the post-tax NPV8 is A$246m, up from A$98m.
Cadmium-free quantum dots developer Nanoco (NANO) is on track to complete the joint development agreement with its first Asian chemical customer. The second Asian customer is in talks concerning the next step to the existing programme. The shareholder consultation is continuing.
Rockpool Acquisitions (ROC) says the potential reverse takeover of European Lingerie has been delayed as the target seeks to refinance its debt. There is uncertainty whether Rockpool Acquisitions will be able to recover money owed by European Lingerie.
Andrew Hore
Quoted Micro 17 August 2026
AQUIS STOCK EXCHANGE
Gledhow Investments (GDH) has received commitments for a £400,000 subscription at 1p/share, which was more than double the market price at the time. It is also acquiring Penina Resources in return for 21.9 million shares, and this bring £219,000 in cash. Penina Resources directors are Sam Quinn and Cameron Pearce, and they will join the Gledhow Investments board. That cash will be used to repay £219,566 of convertible loan notes. Tavira has been appointed broker, and the company will change its name to Panina Investments. There will be a greater focus on natural resources.
Ethry (ETHY) has agreed to a merger with Dunbar Energy to create a US-focused energy and digital infrastructure company. This is a 50/50 merger with Dunbar Energy shareholders potentially earning an additional 15% depending on performance. There will be a warrant rationalisation to simplify the capital structure. Dunbar Energy brings gas assets in Pennsylvania, and this is intended to be used to power data centres, while Ethry has similar plans for solar powering data centres. Access to affordable power is important for data centres.
Tomahawk Metals (TMHK) says satellite interpretation has identified three distinct prospect areas at the Saturn gold project in Western Australia. There are historical workings not shown in records. Rock chip samples have been sent for analysis. The assay results will help to assess potential and identify drill targets.
B HODL (HODL) has signed a non-binding letter of intent with Zeus Wallet to connect its Lightning Network routing to Zeus’ node infrastructure.
Falconedge (EDGE) has added 0.1514 Bitcoin during July, taking the holding to 21.2338 Bitcoin.
Marula Mining (MARU) says site works have begun at the Tonto Tshipi and Derdepoort manganese mines in South Africa. Talks continue with potential offtake partners. Delivery of copper from the Kinusi mine has been delayed.
Digital asset mining company Sterling Digital (ASIC) says two 2MW natural gas generators are producing electricity. These systems are being tested. The power will then be used for digital mining.
A person associated with IntelliAM AI (INT) chief executive Tom Clayton bought 10.966 shares at 81.5p each.
ASSET MATCH
Byotrol (BYOT) reported flat full year revenues of £4.3m, despite not having a contribution from IP income. The loss was reduced from £1.05m to £802,000. There was £457,000 in cash at the end of March 2026. Current trading is ahead of the previous year.
Fastjet (FJET) has received an indicative offer from majority shareholder (92.7%) Solenta Aviation Holdings. The offer is $22/share.
VP Fintech (VPF) has completed the acquisition of crypto payment gateway developer GlblNexus Inc in a share deal valued at £10m. This is based on a VP Financial valuation of £418.8m.
AIM
Retailer Mothercare (MTC) says 2025-26 net worldwide system sales fell 22% to £180m and the company’s revenues slumped 42% to £22.4m. System sales continue to decline due to uncertainty in the Middle East, the reduction in the number of stores and clearing old stock. A new franchise partner should be announced in the UK. Net debt was £5.7m at the end of March 2026 and the pension deficit is £35m. This year the loss is forecast to rise from £2.6m to £3.2m before a small reduction next year. Net debt is expected to rise.
Video games art outsourcing services provider Winking Studios (WKS) grew interim revenues 21% to $23.5m with organic growth of 9%. Building up the North American operations and investment in AI is hitting margins and holding back profitability, but the benefit should show through next year as new business builds up. All the growth came in art outsourcing division, while game development services were flat. That trend is expected to continue into the second half. SP Angel has trimmed its full year forecast revenues to $47.9m due to timing issues and most of the second half contribution is already in the order book. Continued investment will hit gross margins and lead to a full year loss of $6.6m. Growth should accelerate next year, and gross margins recover to past levels as new staff start generating income.
Security technology provider Thruvision (THRU) says a partner in Asia has won a contract worth more than £3m. The customers are a number of airports in south east Asia and the equipment will be used for “airport worker screening and insider-threat mitigation”. This is the largest ever Asian order. Delivery should be in the six months to March 2027. The Lang family has reduced its stake in the company from 9% to below 3%.
Automotive connection systems supplier Strip Tinning (STG) has been awarded a DRIVE35 grant of £3m from Innovate UK and the Advanced Propulsion Centre UK to help to scale up its manufacturing and develop the cell contacting system technology. This will fund the business beyond 2027.
Retailer Shoe Zone (SHOE) says cash generation has been better than expected and £3.5m will be returned to shareholders via buybacks. Cash was £7m on 25 July 2026 after strong July trading. Pre-tax profit forecast is unchanged at £500,000, but net cash at the end of September 2026 has been reduced from £13.1m to £11.4m, reflecting the full buyback.
Bravura Solutions Ltd (BVS), which recently joined AIM, increased underlying revenues by 10% to $282.6m and underlying net profit after tax of $63.1m. Recurring revenues are $165m. At the end of June 2026, cash was $50.3m, but there are unused debt facilities of up to $100m. A final dividend of 8.31 cents/share plus a special dividend of 6.69 cents/share.
Rent guarantee services provider Rentguarantor (RGG) reported interims in line with recently upgraded expectations. Revenues were 250% to £3.39m. Net cash was £2.4m at the end of June 2026. Full year pre-tax profit of £1.2m and that could nearly quadruple to £4.6m next year.
Gold miner Thor Explorations (THX) says second quarter revenues were $78m. EBITDA was slightly lower than forecast at $49m was hit by higher operating costs. Net cash is $219m. Drilling continues to extend the resource at the Segilola gold mine. Full year production guidance is maintained at 75,000-85,000 ounces of gold. A final investment decision for the proposed Douta mine is expected in the third quarter.
Window components Titon Holdings (TON) says that mechanical ventilation systems projects have been delayed into the next financial year. Shore has cut forecasts revenues from £18.3m to £17m, up from £15.8m last year, and there will be a full year loss. Cash was £2.2m at the end of July 2026.
AgTech and fire prevention technology provider Light Science Technologies (LST) interim revenues rose 26% to £3.73m, although the loss increased from £160,000 to £800,000. Net cash was £1.38m at the end of May 2026. The growth in revenues came in AgTech. Building regulation delays hit fire protection income in the first half. The company is still on course to breakeven this year.
Alien Metals (UFO) says further assay results for the Elizabeth Hill project includes further significant intersections and this will feed an updated JORC mineral resource estimate in the fourth quarter. Alien Metals owns 30% of the Elizabeth Hill project and 8.7% of West Coast Silver.
Distil (DIS) has received its first order for Blavod Black Vodka through its new US distribution partner. The first shipment will be in the quarter to December 2026.
MAIN MARKET
Fandango Holdings (FHP) plans to buy 50% of the Canyon silver, lead and zinc mine in Idaho. If the deal goes ahead Fandango will move to AIM.
Ashington Innovation (ASHI) is acquiring World Metal Group through a share issue. This will take the company into the metals recycling sector.
GRIT Investment Trust (GRIT) has called off the planned acquisition of Planet Scan.
Andrew Hore
Gledhow Investments plc – £400,000 Subscription at 122% Premium. Acquisition of Penina Resources Limited. £219,000 Reduction in Convertible Loan Notes. Proposed Board Appointments and Strategic Repositioning
Gledhow Investments plc (AQUIS – GDH) is pleased to announce a series of transactions which, on completion, will materially strengthen the Company’s balance sheet and mark an important step in its strategic development.
Highlights
- Binding commitments received for a £400,000 subscription at 1 pence per share, representing a premium of approximately 122% to Gledhow’s closing share price on [X] August 2026;
- Acquisition for shares, issued at the same 1 pence per share, of Penina Resources Limited, which has approximately £219,000 of cash and no liabilities;
- Penina’s £219,000 cash balance to be applied towards the immediate extinguishment of £219,000 of Gledhow’s outstanding Convertible Loan Notes;
- Proposed appointment of Sam Quinn and Cameron Pearce as Non-Executive Directors, bringing significant natural resources, corporate finance and capital markets experience to the Board;
- Intention to change the Company’s name to Penina Investments Plc; and
- Proposed increased strategic focus on the natural resources sector, where the proposed new directors have significant experience and established track records.
£400,000 Subscription
Gledhow has entered into binding subscription commitments with a range of new investors, introduced to the Company by Tavira Financial Limited and AlbR Capital Limited, to raise £400,000 gross through the proposed issue of 40,000,000 new Ordinary Shares at 1 pence per share (the “Subscription”).
The Subscription price represents a premium of approximately 122% to the closing price of 0.45 pence per Ordinary Share on [X] August 2026, being the last practicable date prior to publication of this announcement.
The Board considers the ability to raise new equity capital at a substantial premium to the prevailing market price to be a strong endorsement of the Company’s proposed future direction.
Acquisition of Penina Resources Limited
Gledhow has also entered into a binding Share Purchase Agreement (“SPA”) to acquire 100% of the issued share capital of Penina Resources Limited (“Penina”).
On completion of the acquisition, Gledhow will issue 21,900,000 new Ordinary Shares as consideration for Penina.
Penina is a non-trading cash entity with approximately £219,000 in cash and no liabilities. Its current directors are Sam Delevan Quinn and Cameron William Leslie Pearce.
Application will be made to the Aquis Stock Exchange for the admission of 61,900,000 Ordinary Shares, pursuant to the SPA and the Subscription, to trading on the Aquis Growth Market. It is expected that admission will become effective and dealings will commence at 8.00 a.m. on or around [X] August 2026.
£219,556 Reduction in Convertible Loan Notes
Following completion of the acquisition, the Company intends to apply the £219,000 cash acquired with Penina towards the immediate extinguishment of £219,556 of Gledhow’s outstanding Convertible Loan Notes (“CLNs”), previously referred to in the Company’s announcement of 13 August 2025.
This will materially reduce the Company’s outstanding CLN position and further strengthen and simplify its balance sheet.
Proposed Board Appointments
Following completion of the Subscription and the acquisition of Penina, it is proposed that Sam Quinn and Cameron Pearce will join the Board of Gledhow, initially as Non-Executive Directors.
Their proposed appointments will bring substantial additional experience in natural resources, corporate finance, public markets and the financing and development of growth companies.
Guy Miller and Geoffrey Melamet will remain on the Board as Managing Director and Company Secretary respectively.
The appointments remain subject to completion of the transactions and customary due diligence. A further announcement containing the required disclosures pursuant to Rule 4.9 of the Aquis Growth Market Access Rulebook will be made in due course.
Strategic Repositioning
The Board believes that the Subscription, acquisition of Penina, substantial reduction in outstanding CLNs and proposed Board appointments together represent an important step forward for Gledhow.
Following completion, the Company will have a materially strengthened balance sheet, an expanded Board with significant natural resources and capital markets expertise, and enhanced financial flexibility to pursue new opportunities.
Reflecting this new direction, the Company intends to change its name to Penina Investments Plc and adopt a more targeted investment strategy, with a particular emphasis on opportunities within the natural resources sector.
The proposed appointments of Sam Quinn and Cameron Pearce are integral to this strategy. Both have extensive experience in the financing, development and management of natural resources businesses and a track record of involvement with companies operating across international capital markets.
The Board believes the combination of additional capital, reduced indebtedness and enhanced sector expertise will provide a strong platform from which to pursue opportunities capable of delivering long-term value for shareholders.
The Company looks forward to updating shareholders further following completion of the Subscription and acquisition and the formal appointment of the proposed new directors.
Proposed Directors
Sam Quinn
Sam Quinn, a British and Australian citizen, is a corporate lawyer with more than 20 years’ experience in the natural resources sector, spanning legal counsel, corporate finance and executive management roles.
Mr Quinn was previously Director of Corporate Finance and Legal Counsel for the Dragon Group, a London-based natural resources venture capital firm. He currently holds a number of roles within public and private natural resources businesses and has significant experience in the administration, operation, financing and promotion of natural resources companies.
Prior to entering the natural resources sector, Mr Quinn practised as a corporate lawyer with Jackson McDonald Barristers & Solicitors in Perth, Western Australia, and Nabarro LLP in London.
He graduated from the University of Western Australia in 1999 with Bachelor of Laws and Bachelor of Arts degrees and is qualified as a lawyer in Western Australia and England & Wales.
Cameron Pearce
Cameron Pearce, an Australian citizen, has more than 20 years’ professional experience across the Australian and UK financial and corporate sectors.
He has held senior financial and management positions in publicly listed and private companies operating across Australia, Europe, Asia, Africa and Central America and has extensive experience providing corporate, strategic, financial and advisory support to public and private companies.
Mr Pearce is a member of the Australian Institute of Chartered Accountants.
He is currently Chairman of Blencowe Resources and was previously Chairman of Emmerson plc.
Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, following completion of the transactions described above, Gledhow will have 169,684,984 Ordinary Shares of £0.01 each in issue, each carrying the right to one vote.
The Company holds no Ordinary Shares in treasury.
Accordingly, the figure of 169,684,984 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The directors of the issuer accept responsibility for the contents of this announcement.
For further information please contact:
Gledhow Investments plc
Guy Miller
+44 (0) 20 7220 9795
Tavira Financial Limited (Corporate Broker)
Jonathan Evans
+44 (0) 20 7100 5100
Investor Enquiries
Sasha Sethi
Tel: +44 (0) 7891 677 441
sasha@flowcomms.com
#URU URU Metals Limited – Zeb Nickel Project Update
URU Metals Limited (“URU” or the “Company”) is pleased to provide an update on the ongoing 3D geological and geophysical modelling programme at the Zeb Nickel Project in Limpopo, South Africa.
The work is being undertaken by Atticus Geoscience, who have extensive experience in the modelling of magmatic nickel-copper-PGE sulphide systems.
The programme brings together the Project’s drill hole database, geological interpretation, airborne magnetics, gravity and SpectremPlus™ electromagnetic (“EM”) data, together with the recently completed ground frequency-domain electromagnetic (“FDEM”) and gravity surveys, into a single 3D geological model.
Highlights
· Leapfrog modelling has shown a close spatial relationship between the Critical Zone rocks hosting known Ni-Cu-PGE mineralisation, semi-massive sulphide intersections and the strongest airborne and ground EM responses.
· The model brings the geology, drilling, gravity, magnetics and EM datasets together in three dimensions, allowing the Company to assess the mineralised system as a whole rather than as separate datasets.
· The strongest EM responses occur within the same broader geological corridor as known semi-massive sulphide intersections in drill holes Z03, Z017, Z024 and Z031.
· The SpectremPlus™ airborne EM anomaly was subsequently refined by the ground FDEM programme as Target 1, a discrete conductor associated with a coincident gravity anomaly.
· Target 1 is located at the interpreted point where the chonolith extending from the Uitloop II ultramafic body enters a larger intrusive body mapped by the gravity and magnetic datasets.
· This conduit-to-chamber transition is considered a favourable geological setting for changes in magma flow and the potential segregation and accumulation of magmatic sulphides.
· Atticus is now constructing a 3D mineralised envelope from the existing drilling and comparing it directly with the airborne EM responses, ground FDEM data and conductor plate models.
· The work is intended to provide a more efficient path for drilling extensions of the higher-grade Zone 2 Critical Zone mineralisation, with the longer-term objective of supporting a maiden mineral resource for Zone 2.
· In parallel, Ground FDEM Target 1 will be prioritised as a proof-of-concept drill target for semi-massive to massive Ni-Cu-PGE sulphides.
An overview of the Leapfrog model is shown in Figure 1a and 1b below, which illustrates the chonolith system connecting the Uitloop I body to the Uitloop II body, and the location of the Ni-Cu-PGE mineralisation in rocks interpreted to belong to the Critical Zone of the Bushveld Complex.
Figure 1a: 3D Overview of the Leapfrog model illustrating the chonolith system connecting the Uitloop I body to the Uitloop II body.
Figure 1b: Overview of the Leapfrog model illustrating the chonolith system connecting the Uitloop I body to the Uitloop II body, as well as the location of the interpreted Critical Zone rocks that host the Ni-Cu-PGE mineralisation
Zone 2 Higher-Grade Ni-Cu-PGE Mineralised Envelope
Atticus is now using the existing drill hole assay data to construct a three-dimensional mineralised envelope through the known Zone 2 Critical Zone mineralisation.
This envelope will be compared directly with the airborne and ground EM responses to determine how closely the geometry of the known mineralisation follows the conductive signature.
If that relationship can be traced beyond the existing drilling, it should allow future drill holes to be positioned more efficiently along the interpreted mineralised corridor.
The Company’s objective is to use this work to target extensions of the higher-grade Zone 2 mineralisation and progressively build sufficient geological and drilling information to support a maiden mineral resource estimate for Zone 2, subject to the results of future drilling and the requirements of applicable mineral resource reporting standards.
Massive Sulphide Target
The model also provides a clearer view of the interpreted chonolith system linking the Uitloop I and Uitloop II ultramafic bodies and the fault architecture controlling the intrusive system, which relates to a second key exploration objective targeting massive sulphides.
A particularly important feature of the geological model is the SpectremPlus™ airborne EM anomaly, which was subsequently refined by the ground-based geophysical programme as Target 1.
Target 1 comprises a discrete EM conductor coincident with a gravity anomaly and is located at the interpreted transition between the chonolith extending from the Uitloop II body and a substantially larger intrusive body interpreted from the magnetic and gravity datasets. The location of this conductor sits in a particularly compelling geological position.
In magmatic sulphide systems, changes in conduit geometry and magma flow can create favourable locations for sulphide segregation and accumulation. The widening of a narrower magma conduit into a larger intrusive body may result in changes in magma velocity and flow dynamics, providing a potential physical mechanism for the concentration of dense sulphide liquid.
The position of Target 1 is therefore considered highly prospective, particularly given its relationship to the broader Critical Zone mineralised corridor and nearby semi-massive sulphide intersections.
Figure 2: Leapfrog 3D geological and geophysical model showing the interpreted chonolith system between Uitloop I and Uitloop II, Critical Zone Ni-Cu-PGE mineralisation, known semi-massive sulphide intersections, and the coincident airborne and ground EM response at Target 1. The Maxwell plate is shown within the strongest conductivity response adjacent to the interpreted conduit system.
Next steps
Atticus is now using the existing drill hole assay data to construct a 3D mineralised envelope through the known Zone 2 mineralisation.
This work will be compared directly with:
· the modelled Critical Zone geology;
· the SpectremPlus™ airborne EM responses;
· the ground FDEM data and Maxwell plate models;
· gravity and magnetic interpretations; and
· the broader 3D intrusive architecture.
The Company’s geological team will then work with Atticus to finalise and rank proposed drill holes.
The next drill programme is expected to have two clear objectives:
· to target extensions of the higher-grade Zone 2 Critical Zone Ni-Cu-PGE mineralisation, with the aim of building towards a maiden Zone 2 mineral resource; and
· to test Ground FDEM Target 1 for a concentration of semi-massive to massive Ni-Cu-PGE sulphides at the interpreted conduit-to-chamber transition.
The final drill programme will be prioritised within the Company’s available exploration budget.
The Company expects to provide a further update once the integrated mineralised envelope and proposed drill programme have been completed.
Richard Montjoie, Exploration Manager of URU Metals, commented:
“Zeb is really starting to come together properly in 3D. We can now see the strongest EM responses sitting in the same geological corridor as the Critical Zone and the semi-massive sulphides we have already intersected.
What is particularly interesting is Target 1, where a discrete conductor sits at the point where the interpreted chonolith opens into the larger intrusive body. Geologically, that is exactly the sort of position we want to test for sulphide accumulation.
Atticus is now building the mineralised envelope from the drilling and comparing it directly with the airborne and ground EM. That should give us a much better way of targeting the next holes. We have two clear objectives: build the higher-grade Zone 2 mineralisation towards a maiden resource, and drill Target 1 to test whether the conductor represents a concentration of semi-massive to massive sulphides.”
For further information, please contact:
URU Metals Limited
John Zorbas
Chief Executive Officer
+1 416 504 3978
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Ewan Leggat / Caroline Rowe
+44 (0) 203 470 0470
Axis Capital Markets Limited
Joint Broker
Richard Hutchison
+44 (0) 203 026 0320
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Quoted Micro 10 August 2026
AQUIS STOCK EXCHANGE
Heart health products developer ProBiotix Health (PBX) interim revenues increased 53% to £2.06m and improved gross margins. There was a swing from a loss of £153,000 to a pre-tax profit of £79,000. The growth was in the US. There was a £19,000 cash outflow from operating activities during the period and £1.24m in cash at the end of June 2026. The growth was in the US and there are prospects of second half growth in Asia and Europe, as well as in the US.
Emissions reduction additives developer Sulnox Group (SNOX) increased first quarter revenues by 54% to £804,600. Volumes were 73% higher. Cash was £1.54m at the end of June 2026 with some of the £2m recently raised invested in increased inventories.
Ajax Resources (AJAX) has started the environmental permitting process for the maiden drilling at the Pereira Velho gold project in Brazil. The process could take three months. The drilling budget is $1.5m. There has already been $5m spent on drilling and other work. The new work will enable a maiden mineral resource estimate to be calculated.
Global Connectivity (GCON) raised £293,000 at 0.1p/share. This will provide working capital and should last until July 2027.
EPE Special Opportunities (EO.P) says it will not buyback any more shares for the time being. The interims will be published on 9 September.
Delta Gold Technologies (DGQ) director Jamie Tosh bought 20,000 shares at 122p each. He owns 5.7%. Delta Gold Technologies has raised £30,000 from an exercise of warrants at 15p each.
ASSET MATCH
Trading in brewer Wadworth and Co (WAD) shares is starting on the Asset Match PISCES platform. Interim sales increased 6% to £22.6m, while EBITDA improved 14% to £2.7m. Own beer sales were 8% ahead and this is helping margins of managed pubs. The World Cup helped the figures. Tenanted pubs income is flat. The current wine and spirits contract is due for renewal next year and options will be reviewed.
An independent valuation of the Valens Pay fintech platform business by Wills Capital indicates a range of $560m to $1.39bn. Valens Pay is the principal platform owned by VP Fintech (VPF).
AIM
Communications and satellite technology developer Filtronic (FTC) reported a small dip in revenues to £55.5m, despite adverse currency movements, and investment in technology and increasing capacity led to a fall in pre-tax profit from £15.1m to £8.1m. Additional engineering and business development staff have been taken on. The new Sedgefield facility is up and running and annual capacity has increased to more than £200m. SpaceX remains the largest customer, but new customers are diversifying revenues. Pre-tax profit is expected to rise to £8.9m this year and 95% of forecast revenues are in the order book. Early forecasts tend to be conservative so there is room for upgrades later in the year.
Video games developer Devolver Digital (DEVO) plans to cancel its AIM quotation and there will be a tender offer of up to $5m at 16p/share. Shareholders are being asked to approve the proposals at a general meeting on 8 September. A further tender offer of up to $5m is planned for 12 months after cancellation. There will be annual cost savings of $1.6m, and the board does not believe that the share price reflects the recent progress, partly due to poor liquidity. Devolver Digital joined AIM on 4 November 2021 at 157p/share
Wellnex Life Ltd (WNX) is selling its main brand Pain Away to Japan-based Rohto Pharmaceutical for up to A$21.3m. The initial cash payment of A$19.8m is payable on completion and will be used to repay debt and invest in the remaining healthcare and contract manufacturing activities. The remaining payment is dependent on performance in the 12 months after the purchase. Shareholder approval for the deal will be sought on 8 September. In 2024-25, Pain Away had revenues of A$13.4m and EBITDA of $4.36m. The rest of the business lost money. Wellnex Life raised £5.22m at 31.75p/share when it joined AIM on 21 March 2025.
Transport software and services provider Tracsis (TRCS) is selling non-core events operations for £7.3m. In 2024-25 revenues were £20.4m and EBITDA was £1.9m. This was expected to improve. This will lead to a net reduction in profit after the disposal, but management can concentrate on the core rail technology business, which has better margins.
Strategic communications company Aeorema Communications (AEO) says interim revenues should be one-third higher at £17.4m, and pre-tax profit could treble before forex movements to £1.5m. After the year end change, the first half is much stronger than the second half, where a loss is likely. Forecast full year revenues have been raised from £20.4m to £22m, while pre-tax profit is improved from £740,000 to £810,000.
Automotive interior components supplier CT Automotive (CTA) says revenues grew 15% to $62.1m in the first half. However, higher operating costs mean that profit will be much lower than in the first half of 2025. Some of the cost increase can be recovered but that has been delayed until the second half. Production inefficiencies in Mexico had to be rectified. Revenues and profit should be stronger in the second half, and the company is optimistic about achieving full year forecasts.
Furnishings supplier Sanderson Design Group (SDG) says interim revenues improved 6% to £51.4m thanks to a 19% increase in North American brand product revenues. Third-party manufacturing revenues recovered 19% to £11m. Licensing revenues were 13% higher at £4.9m. Net cash was £10.2m at the end of July 2026.
Cybersecurity services provider Corero Network Security (CNS) says interim revenues were 42% ahead at $15.5m and it made a positive EBITDA. Annualised recurring revenues are 12% higher at $24.1m. Cash is $2.1m. Zeus still expects a move back into profit for the full year with a pre-tax profit of $400,000 forecast. The broker will review its forecast when the interim results are published.
FIH Group (FIH) is selling the Momart art logistics business for £7.6m to a larger rival and the deal should complete by the end of September. Momart made a loss last year. There could be a cash distribution to shareholders, as well as investment in the remaining business in the Falkland Islands.
Hostels operator Safestay (SSTY) is selling its London Kensington Holland Park property for £3m. This is one of the company’s early sites and it generated revenues of £1.7m last year. There should be a £2.6m gain on the disposal. NAV was 22.2p/share at the end of 2025.
IP and content management Ingenta (ING) is acquiring 23.9% of FirstAida, which is an early-stage legalTech business that is involved in AI software that helps IP holders to identify copyright infringement. The cost is £500,000 in shares and there is an option to buy the rest at a price linked to performance. There is a small dilution to this year’s earnings because of the share issue.
Battery technology developer Gelion (GELN) has secured a joint development agreement with battery materials manufacturer Mitsui Kinzoku which will help progress towards commercial manufacturing in Asia. Gelion will receive £2m in staged payments to validate the company’s NES cathode active material (CAM) for use in high density liquid and solid-state sulfur battery cells. Mitsui Kinzoku has an option to negotiate manufacturing rights in some countries in Asia.
Kazera Global (KZG) says that the technical report for the Sea Concession 2A heavy mineral sands project in Alexander Bay, Northern Cape, South Africa shows an inferred mineral resource estimated at 6.65 million tonnes of heavy mineral sands at an approximate grade of 20%. This is principally garnet, ilmenite, zircon and rutile. This is based on 1.42% of the licence area.
ePharmacy company Vulcan Two (VUL) says integration of its three acquisitions is progressing well. Vulcan Two is shedding lower margin customers and focusing on profitability. Forecast 2026 revenues reduced by 4% to £38.9m and additional staff hires and duplicated running costs have cut the pre-tax profit forecast from £1.9m to £1.1m.
MAIN MARKET
Foams manufacturer Zotefoams (ZTF) grew interim revenues 23% to £95.2m and pre-tax profit was one-third higher at £15.3m. This included a full contribution from OKC, which was acquired late last year. Organic growth was 4%. This was achieved even though footwear sales were 23% lower. Underlying organic growth excluding footwear was 28%. This means that footwear is 30% of total sales, down from 48%.
North east England-based property finance and development company Develop North (DVNO) reported increased interim income of £1.27m, up from £1.04m. The total value of the portfolio is £22.9m. This covers 14 projects following two exits during the period. There were write downs on two projects unable meet interest obligations and this led to a first half loss. The total dividends are 2p/share so far this year. The NAV at the end of May 2026 was 74.8p/share.
Ground engineering and piling business Keller (KLR) grew interim revenues by 10% to £1.61bn, while underlying pre-tax profit improved from £92.7m to £108.7m. There was growth in all regions, and the order book is a record at £1.9bn. This stretches well into next year. Non-exec director Stephen King bought 6,500 shares at £30.62 each.
Solvonis Therapeutics (SVNS) says initial screeding data for SVN-015 is encouraging. This is an AI discovered stimulant use disorder candidate. The next stage of evaluation is funded by the US National Institute on Drug Abuse. Solvonis retains full ownership.
Andrew Hore
#GRX GreenX Metals LTD – Issue of Shares
GreenX Metals Limited (GreenX or Company) advises that further to its announcement made on 4 August 2026, the Company has today issued 283,954 ordinary fully paid shares (Shares) in relation to the grant of an additional exploration licence at the Eleonore North Project.
An application will be made for the admission of 283,954 Shares to the Equity shares (international commercial companies secondary listing) listing segment of the Official List of the FCA (Official List) and to trading on the main market of the London Stock Exchange for listed securities (LSE Admission). Timing on LSE Admission will be disclosed once the application has been submitted.
For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following LSE Admission, the Company’s issued ordinary share capital will be 312,256,505 ordinary shares. The above figure of 312,256,505 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company following LSE Admission.
GreenX has the following securities on issue:
· 312,256,505 ordinary fully paid shares;
· 11,000,000 performance rights that have an expiry date 8 October 2026;
· 4,025,000 unlisted options exercisable at A$0.55 each on or before 30 November 2026;
· 7,600,000 unlisted options exercisable at A$1.05 each on or before 31 May 2029;
· 7,600,000 unlisted options exercisable at A$1.20 each on or before 31 May 2030; and
· 7,700,000 unlisted options exercisable at A$1.50 each on or before 31 May 2031.
Enquiries:
|
Ben Stoikovich Chief Executive Officer
+44 207 478 3900 ir@greenxmetals.com
|
Kazimierz Chojna Investor Relations – Poland
Kim Eckhof Investor Relations – UK / Germany |