Ascent Resources (AST) announced that ARB Energy has updated the Company that the flow rates from the first five wells which have been put back into production remain strong at 350 mcfd (c58 boed). The Company has also been advised that a further four wells are currently receiving maintenance works and are expected to be put back into long term production, following which Ascent and ARB intend to turn their attention to a further five wells as part of this initial work program. AST said “Ascent’s new CEO will now also lead the Company’s review and high grading of both the natural gas and oil reserves of Locin Oil with a view to finalising a first work program with an initial focus on accelerating the safe resumption of production of oil and gas from existing well bores, which is expected to be completed in the coming weeks, whilst it also finalises its evaluations on the large inventory of prospective resources with view to selecting targets for potential development next year.”
Comment: The market has so far not been fully appreciative of the arrival of AST’s new CEO, a man with decades of experience, and someone with the ability to maximise the company’s asset base and not hang about in terms of doing so.
ACG Metals Limited (ACG) announce its operations and capital structure update for the first half of 2025. FY2025 production guidance has been upgraded from 30-33koz to 36-38koz AuEq, driven by strong operational improvements, including higher gold and silver recoveries. Cost discipline decreased AISC by 13% to $1,060 oz from $1,218/oz in H1 2024. Realised gold price for H1 2025 of $2,950/oz, a 37% increase over H1 2024. ACG said “We’ve built strong momentum through H1 2025, delivering robust operational results, maintaining our leading safety record, and advancing the Gediktepe Sulphide Expansion Project on time and on budget. The approx. 17% increase in production guidance for the year is a testimony to the commitment and excellence of our team.”
Comment: ACG is in a sweet spot in terms of production, market cap and future acquisition / expansion prospects. All of this makes this under-rated and under-appreciated company a play for anyone looking to take advantage of the ongoing gold bull run.
Active Energy (AEG), the biomass-based renewable energy company focused on the production and development of next generation biomass products, announce the implementation of its Digital Assets, including Bitcoin (“BTC”) treasury management policy, marking a strategic step in the Company’s broader financial and operational strategy. As part of this New Policy, Active Energy has completed its first allocation into digital assets with the purchase of BTC. This move reflects the Company’s commitment to enhancing the financial resilience of the Company while supporting its broader operational objective of accelerating sustainable energy initiatives.
Comment: Another “me too” contender in the BTC strategy space. One wonders where the company has been for the past couple of months, given that May or June would have been better times to join the bandwagon.
Vaultz (V3TC) announced a couple of TR1s. Brian Reid goes from 10.99 to 12.59% and Sarah Gow, COO, buying 236,000 shares at 16.5p in the latest fundraise.
Comment: It is always pleasant to see management leading from the front. What will be interesting to see is how well geared the V3TC share price is to the ongoing Bitcoin breakout.
Cake Box Holdings (CBOX) the UK’s largest retailer of fresh cream celebration cakes, announces its audited full year results for the 52 weeks ended 30 March 2025. Underlying EBITDA increased 17.1% to £8.73m (2024: £7.46m). CBOX said “Our strategic acquisition of Ambala Foods in March 2025 enhances our product portfolio and diversifies revenue streams, focusing on celebratory and indulgent treats. Ambala’s rich heritage and popular products align seamlessly with our brand, creating opportunities for synergies, accelerated organic growth in new regions and reaching new customers.” Our friends at Shore Capital, where CBOX is a house stock said: “Cake Box has delivered FY25A comfortably ahead of expectations, with adjusted EBITDA of £8.7m (SC£8.0m) and adjusted, diluted EPS of 12.9p (SC 12.0p). YoY growth of c.17%. FY26F has started well, with positive LFL sales and volumes across the Cake Box estate and the Ambala integration well on track.
Comment: A company that has most of us salivating on every RNS. It can be seen that CBOX has already swallowed the canny Ambala deal, something that should be increasingly reflected in EBITDA by the end of the year. I am just about to order a box of Ambala…
Tirupati Graphite (TGR), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, announced its audited annual results and filing of the Annual Report & Financial Statements for the year ended 31 March 2024. TGR said “We are pleased to publish the delayed 2024 annual report and accounts. While the annual report covers a very difficult period for the Company and all its stakeholders, and the Company was at that time on a path to failing, the turnaround initiatives in 2025 have now placed it on a much firmer basis to realise the underlying potential of its assets.”
Comment: Quoting Greek mythology, TGR has delivered both Herculean and Augean tasks in getting itself ship-shape. A hat tip to all concerned, with the name of the game now being that TGR should be revealed as the significant graphite play it was always meant to be.
Gateley (GTLY), the professional services group, announced its audited results for the year ended 30 April 2025. GTLY said “FY25 represents another year of revenue and underlying profit growth for Gateley, set against an unpredictable economic backdrop for much of the year. We are particularly pleased that this growth was driven by the combination of positive returns on our recent investments with an increase in activity levels and active management of cost inflation.”
Comment: GTLY remains in that no man’s land of companies with a market cap of £100m to £500m, that few have heard of (even I had to look up the ticker code). Presumably, the company remains happy with this relative state of anonymity, even as it delivers a noteworthy performance.
EnergyPathways (EPP), an energy transition company, announced a strategic engagement with Hazer Group Ltd to use its proprietary hydrogen production technology – globally licensed through Hazer’s strategic alliance with KBR Inc, a global engineering leader and technology solutions provider. This technology will be used to develop a bolt-on clean hydrogen facility that will expand the Company’s MESH integrated energy storage project.
Comment: Shares of EPP shot their bolt in October, and have ever since struggled to justify the premium rating before the fundamentals catch up. The question is how much sizzle and money there will be in the world of energy storage projects, and how long all of this will take to materialize? At least today’s news is a decent milestone.
Arrow Exploration Corp. (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, provided an update on recent operational activity on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest. Current production between 4,600 and 4,800 boe/d net to Arrow. Strong balance sheet, no debt or drilling commitments. Arrow has flexibility in its work program and is actively exploring potential acquisition opportunities.
Comment: Another excellent update, which no doubt will have no appreciable effect on the share price, or market perception of the company. AXL clearly takes the view that its current comms with the market is spot on, and that the value will out – eventually.
Concurrent Technologies (CNC), a designer and manufacturer of leading-edge computer products, systems and mission critical solutions used in high-performance markets by some of the world’s major OEMs, provided an update on trading for the six months to 30 June 2025. Based on its unaudited management accounts for H1 FY25, the Company expects to report record results for a first half, with revenue of approximately £21.3m (H1 FY24: £16.8m) and profit before tax of approximately £2.4m (H1 FY24: £2.3m) despite the USD exchange rate having a c.£0.6m negative impact to profit relative to the same period last year. Order intake for the period remained strong at £22.3m (H1 FY24 £17.8m).
Comment: Although the shares have taken a slight slap this morning, the market has been onto this decent growth situation for at least the past 18 months, during which dips in CNC have been dips to buy into.
Oxford BioDynamics (OBD), a precision clinical diagnostics company bringing specific and sensitive tests to the practice of medicine based on its EpiSwitch® 3D genomics platform, noted the publication of data from Pfizer on the successful use of EpiSwitch blood-based biomarkers in the evaluation of tumour status and treatment outcomes of 496 patients from the JAVELIN Bladder 100 Trial in the journal Cancers.
Comment: Any RNS mentioning Big Pharma is going to help a minnow like OBD, whose share price really needed a shot in the arm. The key going forward is that OBD can successfully monetise its portfolio, and do so sooner rather than later.
Zinc Media Group (ZIN), the award-winning television and content production group, announced a trading update for the six months ended 30 June 2025 (“H1 FY25”). Revenue secured and due to be recognised in FY25 of £35m (30 June 2024: £27m) with a further £5m in highly advanced discussions. The highest level booked at the half year end. Strong cash position of £4.2m (30 June 2024: £4.1m).
Comment: Although not quite up to Amazon MGM Studios level, after a long lead in time it would appear that it is showtime for ZOO. The cash position underpins the enthusiasm we should have here in a notoriously difficult area.
Corcel (CRCL), the Angola-Brazil-focused energy company, announced the successful completion of a £1.1 million equity placing at £0.0034 per share, in line with the Company’s 15-day volume-weighted average price (VWAP). The placing was led by Toronto-based Purpose Global Resource Fund, who join the Corcel register as a new institutional shareholder.
Comment: Everyone likes a new institutional shareholder, even if it is because a company cannot get a normal placing away. The last charting call here was that above 0.30p the shares can reach 0.45p, and look on track to do so as soon as the end of this month.
Eagle Eye (EYE), a leading SaaS and AI company that creates digital connections enabling personalised, real-time marketing at scale, provided an update on the Group’s trading for the year ended 30 June 2025. Trading in H2 has delivered adj. EBITDA ahead of current market expectations for the Year, and a strong cash performance. EYE also announced a £1m share buyback.
Comment: Shares of EYE had the stuffing knocked out of them with the loss of a US contract at the beginning of last month. The company is however still buzzing like a bee, and is taking appropriate revenge on the market with a share buyback.
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