Tap Global Group (TAP), an innovative digital finance hub that brings money payments and crypto settlement services together in a single user-friendly app, announced the appointment of Manuel De Luque Muntaner as Non-Executive Chair of the Board with immediate effect. Manuel replaces Peter Wall who, as announced on 22 July 2025, has now resigned as a director of the Company to pursue a full-time position within the Government of Canada.
Comment: The departure of Peter Wall was clearly not a good look, as is the way that shares of TAP have managed to underperform during one of the greatest crypto booms ever. Manual has work to do to sort out the company’s performance and stock market perception.
Steppe Cement Ltd (STCM), announce the following trading update for the third quarter ended 30 September 2025, and general corporate update. All numbers referenced below are unaudited. Steppe Cement generated revenue of KZT 18,284 million (approximately USD 34.1 million) in Q3 2025, which was 21% higher in KZT than the revenue achieved in Q3 2024 of KZT 15,085 million (approximately USD 31.6 million).
Comment: STCM is not really a company that anyone covers, talks about, or presumably trades. That said, the shares are some two thirds off their levels a couple of years ago, and deserve to be rather higher based on the latest update.
Amaroq Ltd. (AMRQ), an independent mine development corporation focused on unlocking Greenland’s mineral potential, announce the launch of Single Mine Origin gold sales from its Nalunaq mine in Greenland, following Amaroq’s successful integration into the SMO platform. All SMO gold is fully traceable from mine site to end customer and produced in accordance with the strictest internationally recognised responsibility standards, underpinned by comprehensive and independently audited ESG data.
Comment: It has been a rather rocky share price ride for AMRQ, even though it should not have been. The apparent exit of a significant shareholder at the start of the year has been something that the stock has made hard work of reversing. But it is slowly getting there aiding by a strong fundamental backdrop.
Blencowe Resources (BRES), the natural resources company advancing the Orom-Cross graphite project in Uganda, announced continued international testing of graphite from its Orom-Cross project in Uganda has confirmed superior performance across multiple battery technologies. Latest testing by Apollo Energy Systems Inc. shows Orom-Cross graphite delivers ~12% enhanced performance in lead-acid battery cells.
Comment: We have further proof of how strong Orom-Cross, not that we necessarily needed it. That said, anything that can get BRES shares into double digits – rather belatedly, is to be welcomed.
Wishbone Gold (WSBN) on activities at the Company’s Red Setter Gold Dome Project, located 20km South-West of Greatland Gold Plc’s (AIM and ASX: GGP) Telfer gold mine in Western Australia. Diamond drilling on hole 2 (25RSDD002) was completed at 950m and has now moved to a planned 500m deep drill hole (hole 3) located 1.6km north of holes 1 and 2. The core from hole 2 hit multiple zones of fracturing with pyrite (Figure 1-5). The core will be dispatched to Perth and ALS Laboratories shortly for cutting and assay.
Comment: WSBN is still going with “we are the new GGP” and why not? However, it is now fast approaching time when we see how much of the good news and the discoveries are already in the price.
Focus Xplore (FOX), the strategic energy and critical minerals exploration and development company, announced progress has been made in respect of the Company’s Artificial Intelligence (“AI”) driven exploration following its ongoing collaboration with Planetary AI Limited (“Planetary AI”), announced earlier this year1: Identified prospective critical mineral targets in Ontario, Canada, as outlined below; Successfully developed and deployed customised AI toolbox, purpose-built to harness ‘Big Data’ resources available across Northwestern Ontario; and Secured a strategic first-mover advantage with exclusive agreement across Ontario and shortlist of further jurisdictions in pipeline.
Comment: FOX has clearly moved us along from the “there’s gold in them there hills. It will be interesting to see how 21st century its set up can be, and of course of the AI can divine what is underground in an improved way.
Jubilee (JLP), the Zambia copper focused producer, today publishes an operational and project update for its South African operations for the first quarter ended 30 September 2025 (Q1 FY2026). Workstreams to conclude the sale of the Company’s South African Chrome and PGM Operations (Disposal Group) are progressing well. Approval by the South African Competition Commission and delivery of the audited accounts for the Disposal Group for the year ending 30 June 2025, are the two remaining significant conditions precedent to the sale. The Company is hopeful that completion of the sale will be achieved by the end of CY2025. The Company expects to deliver its audited results for the financial year ending 30 June 2025 during the second half of November 2025.
Comment: JLP has for quite some time been dogged by either bad comms or just plain bad luck, and it is to be hoped that this state of affairs ends soon, so as the company joins some of its peers in enjoying the 2025 revival in the space.
Zenith Energy (ZEN), the listed international energy production and development company, updated in connection with the submission by its wholly owned subsidiary, Canadian North Africa Oil and Gas Limited (“CNAOG”), of an application for annulment of the ICC-2 Arbitration before the Swiss Federal Supreme Court in Lausanne, Switzerland. The Company can now confirm that the submission of the Annulment Application has been accepted by the Swiss Federal Supreme Court and that the Company has consequently made full payment of the procedural fees for the Annulment Application in the amount of CHF 200,000 (equivalent to approximately to EUR 215,000 or approximately NOK 2,500,000).
Comment: Since the July setback announcement for the Tunisia arbitration, the market has behaved as if there was and is no prospect of a big win. This is clearly not the case, but of course provides an opportunity for those who are interested in the shares around current lowly levels.
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