The Times: Share prices have risen and oil prices have fallen in overnight trading in Asia as markets seized on remarks by President Trump that the war in Iran is “very complete”. Asked at a press conference if the war would end this week, Trump said: “No, but soon. I think soon. Very soon.” Markets have rallied despite conflicting signals from Trump later. Following the press conference the president told Republicans in Florida that “we have won in many ways, but not enough” and threatened Iran with further devastation if it continued to block the Strait of Hormuz.
Comment: Oil prices have fallen not only on Iran apparently being on the back foot, but on the basis that those who went long when Trump said he was going to invade Iran (state sponsored insider trading) were able to take a good profit. Some would have also gone short over $100, in the run up to Trump suggesting Iran was done. If only trading the markets was that easy in “our” day.
JP Jenkins (www.jpjenkins.com), the established UK venue for unlisted companies, has this morning announced that it will conduct the first ever PISCES liquidity event by providing a trading facility for its client QPLAY on the JP Jenkins Private Market. Facilitated by legislation enacted less than a year ago and following JP Jenkins’ securing of a PISCES operator licence in November 2025, QPLAY will make history as the launch company for this new and innovative trading mechanism. The deal has been facilitated by a groundbreaking partnership with investment management firm, Sapphire Capital Partners, enabling portfolio companies to access JP Jenkins’ regulated Private Market.
Comment: It remains amazing that JP Jenkins has wiped the floor with the “proper” listed venues, if only in cost and hassle. Presumably one day when the lack of attraction of being listed reaches a tipping point, someone will do something about the disconnect between being private and public.
Technology Minerals Plc (TM1), the first UK listed company focused on creating resource and manufacturing resilience through a sustainable circular economy for battery metals and other critical resources, announced that its 48.35% owned battery recycling business, Recyclus Group, has launched a crowdfunding campaign with FCA regulated Crowdcube Capital Limited, the equity crowdfunding platform.
Comment: Decent alternatives to crowdfunding include a car boot sale, a bake sale, a raffle, lottery, sponsored walk, or perhaps a bring and buy sale. Presumably all of these alternatives were considered by Recyclus, although busking with just an empty hat on the pavement can work well too.
Catenai PLC (CTAI), the AIM-quoted provider of technology and digital solutions, is pleased to announce that Alludium Ltd, its investee company and developer of a no-code AI Agent Operating System, has today launched its platform, making it publicly accessible for the first time. This milestone marks a significant progression in Alludium’s development journey, following its public debut at Web Summit 2025 and the onboarding of its first design partners. Alludium is now open to individuals and teams who wish to build, deploy, and collaborate with custom AI agents through conversation, without writing code.
Comment: Today is the first RNS in which CTAI has mentioned in lights Alludium no-code attractions, indeed, it has done it twice. This may explain why the shares are up over 20% so far today. Well done the PR company, or was it my suggestion. Too many companies do not explain their tech, or what it does.
Tap Global Group plc (TAP), an innovative digital finance hub that brings money payments and crypto settlement services together in a single user-friendly app, announced it has acquired three billion XTP tokens from Tap N Go Ltd for nil cost. The tokens are worth approximately US$1.8 million based on prevailing market prices. XTP is one of the most actively traded tokens on the Tap platform, with strong user adoption. Tap has over 32,850 users with an XTP balance on its platform, demonstrating the high level of existing and potential future synergy.
Comment: There has historically been plenty of speculation regarding TAP and XTP, which perhaps makes today’s sweetheart deal (no cost) a rather attractive sounding one. It also leads one to conclude that if getting $1.8m for free does not help the chronically underperforming TAP share price, what will?
Solvonis Therapeutics plc (SVNS), an emerging biopharmaceutical company developing novel small-molecule therapeutics for high-burden central nervous system disorders, announced the selection of SVN-114 as the lead candidate from the Company’s proprietary SVN-SDN-14 discovery programme targeting Post-Traumatic Stress Disorder (“PTSD”), a condition affecting more than 20 million people worldwide for which effective pharmacological treatment options remain limited.
Comment: There continues to be a significant disconnect between ongoing newsflow breakthroughs, and the share price at SVNS. An overdue re-rate should be imminent. Unlike for instance, companies like Nuformix (NFX), a win for SVNS could really move the dial not only for the company, but a serious, mass population unmet need.
Sunda Energy Plc (SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, announced that its wholly owned subsidiary SundaGas Banda Unipessoal, Lda. operator of the TL-SO-19-16 Production Sharing Contract (the “PSC”), offshore Democratic Republic of Timor-Leste, has been awarded an Environmental Licence for the drilling of the Chuditch-2 appraisal well.
Comment: Given the world’s over dependency on “nasty” regimes for its commodities / resources, one wonders if the ridiculously long processes involved to drill / mine will continue in their current form. Who give’s a monkey’s about an environmental license? There always seem to be less stages to get to Nirvana in these matters / you cannot make an omelette, without cracking an (environmental) egg.
Nuformix plc (NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, announced that the U.S. Food and Drug Administration has granted Orphan Drug Designation in Idiopathic Pulmonary Fibrosis for tranilast lystate, the active drug substance enabled for inhaled delivery in Nuformix’s NXP002 lead programme.
Comment: It is perhaps surprising that shares of NFX are not up more today on the latest news, and some in the market were presumably expecting this, and for it to be regarded as the “big one.” Perhaps the ODD grant underlines that this is a narrow market / not a blockbuster.
Bezant (BZT), the copper-gold exploration and development company, announced: NLZM Mining Licence Renewed: The Mining Licence ML185 covering the Namib Lead and Zinc Mining Pty Limited mine and processing plant, acquired by the Company in December 2025 to be used to process copper – gold pre-concentrate produced from the Company’s Hope and Gorob Project mine site in Namibia, has been renewed. The renewed licence ML185 is valid for a period of 10 years to 24 February 2036.
Issue of new shares upon exercise of warrants: Pursuant to the exercise of warrants at a price of 0.06p per share in terms of the fundraising announced on 4 December 2023 the Company is issuing 5,000,000 fully paid ordinary shares of 0.002p each in the Company
Comment: Given the latest news and the overall lay of the land, one would have loved to have a chunk of the 5m warrants, albeit at nearly double the present share. We are in an environment where such instruments can be valuable surprisingly quickly.
Kendrick Resources Plc (KEN), the mineral exploration and development company, announced commencement of Phase II drilling on the Teufelskuppe and Keishohe rare earth carbonatites at its Bonya rare earth project. Based on reconnaissance work and a detailed review of extensive historic exploration including channel sampling and drilling, Kendrick has selected drill collars and initiated a drilling programme to formalise historic in-house non-JORC (2012) Mineral Resource Estimates. The decision to progress to Resource definition drilling has been prompted by the consistently high-grade rare earth elements assay results generated by all types of historic exploration for both TK and KH.
Comment: Shares of KEN are up over 7x so far this year, with the stock market clearly having embraced the prospect of a decent REE play. Today’s news underlines the prospectivity, and that the stock could yet have further to go. Above 2p the next chart target is 2.8p by the end of next month.
Great Southern Copper plc (GSCU), the company focused on copper-gold-silver exploration in Chile, announced the partial assay results of Hole CNG25-DD042 (DD042) recently received for its Phase III drilling programme at the Cerro Negro prospect, part of the Especularita Project. GSCU said “These latest results for step-out hole DD042 continue to demonstrate the strong growth potential of the Mostaza copper-silver discovery. Intersecting mineralisation at this distance from the historic workings provides further evidence that the Mostaza Fault Zone hosts a much broader mineralised footprint than originally recognised and emphasises the significant exploration upside still to be tested along this emerging trend.”
Comment: The market has grown accustomed to GSCU living up to its high expectations, and this is once again what we have seen reiterated today. The news coincides with the shares bouncing off the recent range floor near 2.5p, with 6 month highs towards 4p to now aim for by the end of next month.
EnSilica plc (ENSI), a leading fabless, application-specific chipmaker, provided an update on recent contract wins and programme upgrades, which continues to underpin the Company’s mid-term outlook. The initial contract value, including engineering services and prototype wafer supply, is approximately US$1.6 million with material revenue contributions commencing in the financial year ending 31 May 2027, with the potential of future additional long-term revenue from future production wafer supply.
Comment: The newsflow is getting there for ENSI, and the share price, finally starting to respond as well. All of this at a time when the UK really needs to get as many serious new tech plays as possible, given how far it seems to be behind the rest of the world, if only in terms of listed plays.
Rome Resources plc (RMR), the DRC-focused tin and copper explorer, announced its proposed strategic expansion into Canada, one of the world’s premier mining jurisdictions. Rome Resources has entered into an option agreement to acquire working interests in early-stage exploration licences across 109 km2 of mining claims in the Canadian Province of New Brunswick, close to the Mount Pleasant deposit, hosting the Three Lakes and Schoullar Mountain Projects.
Comment: While we await the mother lode / big one in DRC, we see RMR hedging its and presumably our bets, with a move into Canada. It will be and is interesting to know how much value one gets buying into new projects at this part of the cycle, and how much value buyers get? At least we still see the RMR share price continue to edge up.
