Capital Metals (CMET), a mineral sands company approaching mine development stage at its high-grade Taprobane Minerals Project in Sri Lanka, announce it has received the second set of drill assay results from the Phase 1 drilling programme in the northern EL168 area. The results have been returned from the Company’s laboratory partner, Scientific Services Geological Laboratories, based in Cape Town, South Africa. CMET said “Results to date indicate a significant extension of mineralisation and potential for many multiples of the existing resource to be achievable in the initial mining area. We are hopeful that applying the same methodology throughout the remainder of the resource area will continue this trend. We look forward to providing further reports as appropriate during the ongoing drilling campaign in order to support a targeted Mineral Resource upgrade before the end of this calendar year.”
Comment: It was already the case that CMET was expected to have much more under its belt in terms of grades and resource, but it would appear that the company is set to beat market expectations. The run up to such revelations should easily allow a further recovery in the stock.
Science Group (SAG) announced its Interim results for 6 months ended 30 June 2025. For the six months ended 30 June 2025, Profit before Tax was £32.2 million (H1 2024: £7.6 million) including the Ricardo investment gain of £24.0 million. Statutory basic earnings per share was 55.3 pence (H1 2024: 12.9 pence). SAG said “The first half of 2025 continued the Group’s operating track record, delivering another robust performance with strong cash conversion. The Science Group model, combining Professional Services and Systems businesses, once again demonstrated its resilience in a period of volatility. As a result, Science Group is well positioned for the full year.”
Comment: Shares of SAG are already at multi-year highs, something which looks well backed given today’s healthy update. The Ricardo gain has been the icing on the cake for a company already going great guns.
Pensana (PRE) updated on the construction progress at Longonjo and the commencement of an exploration project at the Coola project in Angola. PRE said “We are extremely pleased with the excellent progress on the Longonjo project. The confirmation that our capital costs remain firmly within budget-and that our development timeline is intact-is a great result for the team. This reflects the quality of the planning and technical input to date, and we look forward to positive confirmation of the Coola deposit to extend the use of the processing infrastructure being developed at Longonjo beyond the +20 years currently contemplated.”
Comment: The share price of PRE has blown the lights out of late, something which is not surprising given the progress at Longonjo, and the quality of the projects. A further push towards 100p is possible by the end of the summer.
Coinsilium (AQSE: COIN), the Aquis quoted digital asset investor and venture builder, updated on its Bitcoin treasury activity and that of its wholly owned Gibraltar subsidiary, Forza Gibraltar Limited, established to implement the Company’s dedicated Bitcoin-focused treasury operations. Another 12.4 BTC have been purchased, bringing the total to 124.4 BTC, with a £10.9m value.
Comment: The name of the game as far as the BTS brigade is concerned currently is to get as many BTC under their belt as quickly as possible. With shares of BTC near their 200 day moving average at 6p, and in the wake of today’s announced purchase, one would expect a positive reaction sooner than later.
Active Energy (AIM: AEG), the renewable energy company focused on the development and deployment of innovative clean energy solutions, announces an update to its Digital Asset Treasury Management Policy. Following an internal strategic review, the Company has resolved to refine the discretionary allocation mechanism within its Policy and shift toward a more balanced exposure to digital assets. While the Company initially focused its digital treasury strategy on Bitcoin (“BTC”), the revised approach now prioritises an equal allocation between Ethereum (“ETH”) and Solana (“SOL”) for its discretionary allocation.
Comment: Now that the first wave of the BTS boom has run its course, it will be the case that the market will be looking to sort out the wheat from the chaff in this space. AEG’s update today rather puts it in the wheat category with the diversification into ETH and SOL.
Westminster Group (WSG), a leading supplier of managed services and technology-based security solutions worldwide, announce the establishment of a new Cyber & Defence Technology Division. WSG said “Whilst we already have a wide portfolio of security and non-aggressive defence solutions being delivered through our various operating companies, we believe establishing a division focussed on the growing threats from conflict and cyber-attack would be beneficial in establishing Westminster as a leader in this area.”
Comment: In recent weeks and months WSG has had new contract wins coming out of its ears. One would imagine that broadening its services offering will ensure that this state of affairs is set to continue.
Ajax (AQSE:AJAX), the natural resources investment, announced the closing of the second round of the subscription announced on 23 May 2023. The Company has raised a total of £200,000 at a price of 4.5 pence. AJAX said “We are pleased to have secured additional investment from existing significant shareholders, as well as new investors seeking to build long-term positions in Ajax. The Company is now fully funded for all planned work at Eureka through to May/ June of 2026.”
Comment: With the fundraises out of the way, AJAX can get on with the job of developing Eureka. The sizzle here is the cash runway that is set to last nearly a year.
The Smarter Web Company (AQUIS: SWC ), a London listed technology company, announced that 6,057,914 new Ordinary Shares have been placed from the current tranche of 14,000,000 new Ordinary Shares. The proceeds of the 6,057,914 new Ordinary Shares are £19,680,874 (before expenses), equivalent to approximately £3.25 per share, and the Company will receive approximately 97% of the proceeds as settlement early this week.
Comment: As suggested in yesterday’s BTS stocks review, SWC has been looking well supported on any dips below 200p, with the prospect of a move towards 280p near term, even if they pull back subsequently. Today’s update underlines the company’s rush to accumulate as much BTC as possible for mNAV improvement purposes.
SolGold (SOLG) reported assay results from drill holes TAD-52, TAD-53, and TAD-54 at the Tandayama-Ameríca deposit, part of the flagship Cascabel Project in northern Ecuador. These follow-up holes build on prior drilling at Tandayama and continue to confirm near-surface copper-gold mineralisation within a potential open-pit design envelope. The ongoing drill program is designed to support the Company’s strategy to develop a staged, open-pit and underground operation at Cascabel.
Comment: Shares of SOLG have already been well on the front foot in recent weeks, with the chart flagging a strong set up. Today’s assay results should ensure the recent rally has legs.
Avacta Therapeutics (AVCT), a life sciences company developing innovative, targeted oncology drugs, today announced the sale of Coris Bioconcept SRL to 3B BlackBio Dx Ltd for an upfront cash consideration of £2.15 Million with an additional earn-out based on future business performance of up to £0.615 Million. Completion of the sale is expected in August 2025, subject to customary closing conditions. AVCT said “This disposal marks the pivotal final step in Avacta’s transition to a pure-play therapeutics company. We are now fully focused on advancing our promising peptide drug conjugate pipeline powered by our innovative pre|CISION® technology, which is delivering precision oncology treatments that have the potential to make a meaningful impact on patient outcomes.”
Comment: We now know why the share price of AVCT has been rising in recent days, as people who are clearly very good at guessing future news bought into the stock. The result is a more focused company, and a 50% plus share price rise over the past month.
Sovereign Metals (SVML) announced that at a time of unprecedented disruption in global graphite markets, with new U.S. tariffs fundamentally altering supply chain dynamics, the latest testwork on graphite from the Company’s Kasiya Rutile-Graphite Project (Kasiya or the Project) in Malawi has delivered highly successful results. The testwork focused on optimising the coating process for conversion of Kasiya-derived spherical purified graphite (SPG) to coated spherical purified graphite (CSPG) while maintaining premium performance. The results will assist with ongoing offtake discussions with anode manufacturers. Sovereign is developing Kasiya to potentially become the world’s largest and lowest-cost natural graphite producer outside of China.
Comment: We have further evidence, as if we needed it, that while Kasiya was always a world class asset of strategic importance, the current U.S. tariffs environment underlines its value even further. Much further indeed that the present market cap.
Catenai (CTAI), the AIM quoted provider of digital media and technology, announces that, following the announcement of 26 June 2025, it has appointed Appold Associates Limited as its Professional Adviser to its Bitcoin focused treasury function. Appold, an award-winning blockchain advisory firm with a strong track record in institutional digital asset strategy and treasury management, will support Catenai in designing and implementing a secure and compliant Bitcoin treasury strategy. This includes the development of governance frameworks, custody policies, and trading procedures tailored for a listed company environment.
Comment: Those in the know will already have been aware of Appold and how it is not only a go to as an advisor in the crypto advisory area, but also as the maker of the picks and shovels in the digital technology space, a compelling company in its own right. CTAI has made an excellent choice.
Aferian (AFRN), the B2B video streaming solutions company, announced its unaudited results for the six months ended 31 May 2025. Revenue for the H1 2025 increased by 36% to $16.6 million (H1 2024: $12.2 million) and adjusted EBITDA or the six months ended 31 May 2025 was $1.7 million profit (H1 2024: loss $2.4 million). AFRN said “Given the performance in H1 and our current visibility, we now expect full year revenues to be approximately 20% ahead of FY24 and FY25 results overall to be in line with the Board’s expectations showing the strong turnaround compared to last year.”
Comment: It will be interesting to see whether a thus far unconvinced market goes with the enthusiasm and the recovery underlined in the latest update. It is not a done deal that it will despite the revenues upgrade, given the historic sentiment towards the company.
Alien Metals (UFO), a minerals exploration and development company, reported that its joint venture partner, West Coast Silver Limited (ASX: WCE) (formerly Errawarra Resources Limited), has announced significant assay results from recent float and rock chip sampling at the Elizabeth Hill Silver Project in the Pilbara region of Western Australia. The Project, in which Alien retains a 30% free-carried interest through to a decision to mine, is operated by WCE. UFO said “These latest assay results continue to validate the outstanding exploration potential at Elizabeth Hill. The scale and tenor of the silver mineralisation identified in areas away from the historic mine suggest the possibility of multiple new mineralised systems within the broader project area.”
Comment: We have further evidence of why the share price of UFO started to stir with enthusiasm a couple of weeks ago. One presumes that today’s update will be enough to keep the near term momentum going.
Bluebird Mining Ventures (BMV), a pan Asian gold project development company, announced its Financial Report for the Half-Year Ended ended 30 June 2025. BMV said “Bluebird has the right ingredients – hard assets, public market access, and a clean slate. My ambition is to help shape Bluebird into a £1 billion company over the coming cycle.”
Comment: BMV has been one of the better examples of companies transitioning to a hard assets / digital assets mix. Given the current £12m market cap, there is only £999,999,088m to go for the company to achieve its current goals / dreams.
OptiBiotix Health (OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease and diabetes, provided the following unaudited trading update for the six months ended 30 June 2025. Gross revenue up 102% to £557K (H1 2024: £276K). Gross profit up 173% to £303K (H1 2024: £111K). OPTI “The strong growth in 2024 has continued at an increased momentum into H1 2025 with sales growth across all areas of business. Equally important are the changes we made to reduce costs and improve margins whilst growing our top line which are beginning to impact positively on gross profit and should have a greater impact in H2 and into 2026.”
Comment: Given all the name calling, clickbait commentary, and storm in a teacup controversy on what is still effectively a sub scale small cap still trying to get over the line, one could be forgiven for thinking that today’s update with its triple digit percentage improvements almost looks respectable.
EKF Diagnostics (EKF), the AIM-quoted global diagnostics business, provided an unaudited trading update for the six months ended 30 June 2025 (“H1 2025”), a period showing further improvement in gross margins, earnings growth and cash generation, in-line with management expectations. H1 2025 revenues were £25.2m (H1 2024: £25.2m), in-line with management expectations following completion of the rationalisation process last year which enabled a greater commercial focus on higher margin products and services.
Comment:
Kooth (KOO), a leading provider of digital mental health services, announced an unaudited trading update for the half year ended 30 June 2025, together with an update on strategic leadership appointments and promotions, and the latest usage figures from California. KOO said “These investments leave us well positioned to achieve our registration targets and capitalise on growth opportunities in the second half of the year which, when combined with our strong balance sheet, ensures we can target sustainable and impactful long-term growth for the benefit of all stakeholders.”
Comment: KOO continues to make decent progress, despite being under the radar as far as many investors are concerned. This and the share price fall in October regarding an “outdated” article suggest that there may still be slack in the stock to take up.
