Shield Therapeutics plc (STX), a commercial stage pharmaceutical company specialising in iron deficiency, announced the filing, and acceptance by the Chinese National Medical Products Administration (‘NMPA’), of a Marketing Authorisation Application (‘MAA’) for ACCRUFeR® for the treatment of adults with Iron Deficiency by its licensing partner, Beijing Aosaikang Pharmaceutical Co. Ltd (‘ASK Pharm’). This follows the successful completion and outcome of a Phase 3 efficacy and safety clinical study in Chinese adults with iron deficiency anemia (‘IDA’) and inflammatory bowel disease who are intolerant to oral ferrous products. The study demonstrated clinically and statistically relevant efficacy and good tolerance in Chinese adults.
Comment: Shares of STX were up over 2.5x last year, and therefore it is perhaps understandable that they have been taking a breather so far in 2026. Nevertheless, with newsflow such as today’s one would expect to see a resumption of the rally sooner rather than later.
Insig AI plc (INSG), a leading provider of AI-led analytics and machine-learning solutions, announced that it has secured a new contract with an existing client. The client has signed an enterprise licence and revenue share agreement. The client will use Insig AI’s Generative Intelligence Engine. The Generative Intelligence Engine converts client documents into structured, machine-readable data and runs targeted analyses to deliver auditable insights and tailored recommendations. The automation increases speed, reduces manual effort and enhances the consistency of customisable outputs. The contract value of the enterprise licence is £60,000. The client has also agreed to provide Insig AI with access to its client base so that Insig AI can make direct sales to these clients.
Comment: While we may not be looking at the biggest contract win in history, it is the case that INSG is reminding us of the demand for its AI Engine, and the prospects for it to build a scalable business, right on the zeitgeist as far as technology is concerned. At 15p and with a £19m market cap, the market certainly has not factor in such a prospect.
Hamak Strategy Limited (HAMA) a company combining traditional gold exploration in Africa with a Digital Asset Treasury Management strategy, announces that it has completed its due diligence on the Akoko Gold Project in Southern Ghana and intends to now immediately proceed with its process towards final acquisition of the project.
Comment: While we wait for the next celebrity to be called onto HAMA’s advisory board, there is more usual fayre from the company in the form of getting a gold project over the line. Such deals should engender fresh confidence that the company is sticking to its original explorer / developer credentials.
Sintana Energy Inc. (SEI), the Atlantic- margin focused oil and gas company, announced that the planned 3D seismic acquisition campaign on AREA OFF-1, offshore Uruguay, has commenced. The AREA OFF-1 survey is being carried out by the contractor Viridien, using the BGP Prospector vessel, and will cover a total of approximately 4,300 km2. Acquisition fieldwork will take place over two seasons: February-April 2026 and November 2026-April 2027, with most acquisition relevant to the key prospects on AREA OFF-1 expected to be completed in the first season. Fast-track results from seismic acquired in the first season are expected in Q4 2026, with full PSDM results from the first season expected in Q2 2027.
Comment: Some people who may be late to the game as far as SEI, given that its PR is currently in the Marlene Dietrich camp, will have noticed the magic words, “Atlantic-margin”, this putting the company right in the frame as far as the next new big opportunity in oil and gas. This week’s spike for commodities prices is certainly the icing on the cake here.
Fresnillo (FRES) announced financial results for the year ended 31 December 2025. FRES said “We are today reporting a 27.6% increase in Adjusted Revenues to US$4.6 billion and an 80.7% rise in EBITDA to US$2.8 billion. In line with this robust performance, we are proposing a final ordinary dividend above the traditional policy of paying 50% of the adjusted profit, bringing total shareholder distributions for 2025 to US$950.0 million, or 128.92 US cents per share, our highest to date as a listed company. Operationally, silver production was in line with guidance and gold production exceeded expectations.”
Comment: One would presume that the 4x rally for FRES shares last year rather covers all the good news which has been released today. Still, with geopolitical tensions ramping up by the day, the company’s gold production is a highlight, as is of course the way it is making money hand over fist.
The JP Jenkins (www.jpjenkins.com) proprietary index covering the performance of the venue’s 15 largest stocks has been calculated after the close on 27th February. This shows the index trading up 3.3% on the month at 1247.23. Dominique Pretorius of JP Jenkins, commented: “These calculations reflect closing prices before the latest deterioration in geopolitical affairs over the weekend, but the JP Jenkins 15 index continues to show price action that is in line with many major global markets. Whilst a protracted period of unrest in the Middle East could impact risk appetite worldwide, this will also act as a test for the valuations of our client companies, potentially offering some insight as to the investment time horizons that their investors are adopting.”
Comment: Some uncharitable people have commented that JP Jenkins is where listed companies go to die. One would venture to suggest that this is grossly unfair. Instead, the platform should be regarded as not so much a hospice, but a retirement village where the inmates can relax, put their feet up, and generally enjoy all the savings accrued by not being listed on the LSE / AIM / Aquis.
Helix Exploration (HEX), the helium exploration and development company with near-term production assets within the Montana Helium Fairway, confirmed, further to the announcement made on 2 March 2026, the successful completion of the Placing at the Issue Price of 25 pence per share. The Placing conditionally raised gross proceeds of approximately £2.2 million pursuant to the placing of 8,800,000 Placing Shares. Following the deduction of associated fees and expenses, the net proceeds receivable by the Company will be used principally for: Operational working capital. Inez re-entry & perforation. Corporate general and administrative expenses
Comment: It has been commented on X today that HEX has been marketing and conducting interviews while at the same time undertaking a placing. While this may be regarded as not being cricket, if one cannot ramp up one’s share price when in the middle of a fundraise, when can one? Perhaps of just as much interest is how long the company has taken to get into production and how many fundraises have been conducted over the years.
Empyrean Energy plc (EME), the oil and gas exploration and development company with interests in Australia, Indonesia, and the United States refers to the announcement by Conrad Asia Energy Ltd (“Conrad’, (ASX:CRD)) that it and its majority-owned subsidiary, West Natuna Exploration Limited, as operator of the Duyung Production Sharing Contract (“PSC”), have approved the Final Investment Decision (“FID”) for the Mako Gas Project, offshore Indonesia. Empyrean continues to hold a participating interest in the Duyung PSC as detailed in the RNS dated 30 January 2026 and 23 February 2026.
Comment: In the recent past the share price chart of EME has been most famous for looking like the hear trace monitor of someone who was having a cardiac episode, and presumably giving shareholders the same kind of ride. However, in the wake of FID, we may actually see the shares go up and stay up. Punchy call, but this could be a punchy situation.
IG Group Holdings plc (IGG) announce the appointment of Andrew Barron as Board Chair Designate and Non-Executive Director of the Group, with immediate effect. Andrew will formally assume the role of Board Chair upon receipt of the necessary regulatory approvals. Andrew succeeds Mike McTighe, who has served as Chair for more than six years, during which time the business has grown considerably in both scale and diversification. Mike will remain as Chair until the necessary regulatory approvals have been obtained to ensure an orderly transition, at which time he will step down from the Board.
Comment: Given the fundamental lay of the land over the past 6 years it could be said quite fairly that even Coco the Clown would have made a success of being Chair of IG. Actually, that is unfair to Coco, falling off a log is not as easy as it would appear.
RIT Cap. Partners (RCP) announced its Final Results. Delivered a 13.5% Net Asset Value (NAV) per share total return for the year, and a 16.9% share price total return. RCP said “Opportunities in technology are more focused through our private investments book, with early investments in fast-growing private companies including SpaceX, Anthropic and Databricks.”
Comment: RCP has made it look all too easy, especially with the humblebrag regarding SpaceX, Anthropic, and Databricks. However, like so many companies reporting at the moment, the situation in the Middle East may mean that updates like today’s represent something of a performance high water mark.
Keller Group (KLR) announced Preliminary Results for the year ended 31 Dec 2025. Underlying diluted EPS of 211.3p, up 5.7%, driven by higher profitability, lower finance costs and share buyback. Underlying ROCE increased to 30.7% (2024: 28.2%), the highest for 17 years. Net cash position of £59.7m, the first time in more than 25 years, following free cash generation of £175.9m.
Comment: A blow the lights out update from KLR, something which the market was clearly expecting, given the way that the shares are already up 20% YTD. How much further they rise will be dependent on whether the company has not already gilded the lily in terms of market expectations and overall smugness.
Synectics plc (SNX), a leader in advanced security and surveillance solutions, announces its audited final results for the year ended 30 November 2025. Revenue increased by 22.0% to £68.1 million (FY24: £55.8 million). Adjusted EBITDA1 increased by 36.1% to £8.5 million (FY24: £6.3 million). SNX said “Revenue performance in FY26 is expected to be around 10% lower than FY25 with growth offset by the absence of the significant one-off contract delivered in FY25. This is alongside investment during FY26 in line with our long-term growth, therefore FY26 is expected to deliver mid-single-digit EBITDA margins.”
Comment: Although we have a slight dampener in terms of revenues for FY26, this is a minor blot. Perhaps of more concern is the way that shares of SNX have continued to decline from highs seen this time last year, something which even today’s upbeat update has clearly tried to address.
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