The Times: House prices in the UK returned to growth in January, according to data released this morning by Halifax, the UK’s largest mortgage lender. Property prices rose 0.7 per cent month on month, compared with a fall of 0.5 per cent in December. On an annual basis the average house price rose 1 per cent. Economists had forecast prices to be flat on an annual basis and 0.4 per cent higher month on month. The typical UK property now costs £300,077, breaking through the £300,000 mark for the first time.
Comment: If nothing else the above news shows that most economists could not forecast their way out of a paper bag. The other point that it illustrates is that the housing market is not necessarily more complicated than an interest rate cut driving up prices. It is a shame the brains trust at the Bank of England did not cut rates again yesterday, but why would they wish to help a flailing, overtaxed economy?
Tooru (TOO), an AIM listed company focused on the branded health and wellness sector, announced that it has issued equity to a value of £ 1.1 million, before expenses, through a £800,000 placing and a £300,000 conversion of debt, both at a price per share of 0.25 pence. The Placing Price is equal to the closing share price on 4 February 2026 of 0.25 pence. The net proceeds of the Placing will be used for general working capital purposes, including investment in stock in Pulsin, which is focused on healthy protein bars, nutritional snacks and keto bars with an ethical/sustainable agenda, and for investment in the working capital requirements of acquisition opportunities.
Comment: With TOO in full rollout mode with big High Street names we have the right sized fundraise at the right price. One would expect the company to now accelerate the expansion and widen the offering.
Tungsten West (TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine in Devon in the UK, announced the results of the Bookbuild which together with the Subscription and other direct subscriptions has raised gross proceeds of £41,369,718. In total, the Subscription and Placing was more than 2.5 times oversubscribed, receiving strong support from existing and new investors, allowing the Company to broaden its institutional following and market support.
Comment: All of a sudden tungsten has become one of the hottest metals around, and finally it looks as though Hemerdon will be the big prospect it always promised to be. That said, it was never going to be cheap, and the latest fundraise and more will be needed to get production on tap.
Blencowe Resources Plc (BRES) reported a further set of assay results completed from 12 shallow holes drilled at the Iyan deposit, part of the Company’s Orom-Cross Graphite Project in Uganda. These results represent the second batch from the Stage 7 drilling programme. Iyan forms the western extension of the Northern Syncline graphite system and is being advanced as a bulk blending deposit intended to provide consistent, near-surface, high tonnage graphite feed to support long-life, low-cost production. While bulk-tonnage graphite deposits are typically associated with moderate grades, results at Orom-Cross continue to demonstrate that bulk mineralisation is accompanied by repeated higher-grade zones, providing flexibility within mine planning for blending and value optimisation.
Comment: BRES continues to prove itself up, something that perhaps most in the market do not even need it to do. But every RNS such as today’s continues to back the significance of Orom-Cross and how the company is part of the critical metals gold rush.
Jangada Mines Plc (JAN), a Brazil focused natural resource development company, announced an update on exploration work being conducted at the 7,211-hectare Paranaíta Gold Project located in Brazil’s historically significant Alta Floresta-Juruena Gold Province. Exploration activities, some of which are ongoing, include sampling, drilling and geophysical surveys, with the objective being to define a shallow open-pit mining opportunity at the Project. Preliminary results are meeting expectations and confirming the Project’s potential, with several additional promising targets having been identified for future exploration.
Comment: Shares of JAN have more than doubled since the summer, but have not quite managed to join the mega rally status of some peers in the explorer / developer area. That said, as more is proved up there may be a catch up process in this respect.
Berkeley Energia (BKY) advised that its wholly owned subsidiary, Berkeley Exploration Limited (BEL or the Company), has filed a Memorial of Claim at the International Centre for Settlement of Investment Disputes (ICSID) in Washington, D.C. in the Company’s ongoing international arbitration proceedings against the Kingdom of Spain (Spain). As previously announced, the Company referred its investment dispute with Spain to arbitration at ICSID where BEL alleges that Spain’s actions against its Spanish subsidiary, Berkeley Minera España SA (BME), and the Salamanca Project (Project) have violated multiple provisions of the Energy Charter Treaty (ECT). The Company’s Memorial of Claim has now been filed with ICSID with the Company seeking compensation in the order of US$1.25 billion (US$1,250,000,000).
Comment: Everyone loves a small cap company with a big claim. In the latest BKY vs Spain we have another classic David and Goliath battle. It is one that will undoubtedly take years, either way, and will be full of joy and despair in equal measure. Anyone feel like a punt?
Huddled Group plc (HUD), the circular economy e-commerce group, announced that it has received commitments for a proposed subscription of up to £730,000 at a price of 1.75 pence per share, alongside a debt facility of up to £600,000 to support its current growth. The Company also intends to announce a retail offer via the WRAP to its existing shareholders on the same terms as the Proposed Subscription for approximately £100,000. HUD said “The move to our new highly-automated fulfilment partner was always going to be challenging, we are confident their automated solution will help us unlock, and hone, the potential in our business model. The early signs across the new, additional channels to market is very encouraging, and whilst there is still much work to be done, we can clearly see that with more stock, and more channels to market we can begin to grow the business.”
Comment: Shares of HUD were until the summer a decent looking prospect. But it would appear that the market was onto the prospect and / or need for a fundraise at the company to take it to the next level. Now that it has a bit of cash, we shall see whether HUD can deliver.
Capital Metals (CMET), a mineral sands company approaching mine development stage at its high-grade Taprobane Minerals Project in Sri Lanka, has now received the following TR1 Form confirming that Sheffield Resources Limited (ASX: SFX) no longer has a shareholding in the Company. Pursuant to the terms of Sheffield’s investment in the Company, Sheffield is no longer entitled to appoint a nominee director to the board of the Company. Accordingly, Bruce Griffin has resigned as a Non-Executive Director of Capital Metals with immediate effect.
Comment: This is something of a red herring announcement from CMET, given that the market and Sri Lanka has been and should be buzzing like a be regarding its prospects. Indeed, if more people appreciate mineral sands, the shares would on that basis alone be far higher than they already are.
