Argo Blockchain (ARB) said it is undertaking a recapitalisation by way of a restructuring plan under Part 26A of the Companies Act 2006 (the “Restructuring Plan”). Today, it has published a practice statement letter which is the first document in the Restructuring Plan process. It sets out the key details to explain how the legal rights and entitlements of shareholders and creditors may be affected. Subject to the Court sanctioning the Restructuring Plan, it is the Company’s intention to cancel the listing of the Company’s ordinary shares on the Equity Shares (Transition) category of the Official List of the Financial Conduct Authority.
Comment: A couple of points here: first, why it has taken the company so long to come up with the obvious move to delist. The second, the fact that companies delist to save the money, hassle, and general grief of being listed under the current regulatory and cost environment. Oh yes, and the fact that no one is doing anything to ameliorate this situation.
KEFI (KEFI), a gold and copper exploration and development company focused on the Arabian-Nubian Shield with a pipeline of projects in the Federal Democratic Republic of Ethiopia, and the Kingdom of Saudi Arabia, provided an update on the continuing progress of the Company’s high-grade/high-recovery Tulu Kapi Gold Project. US$240 million Project debt capital has been formally offered and accepted, having been signed by both co-lenders and by KEFI on behalf of its group of companies.
Comment: KEFI finally delivers the big RNS many doubted it could achieve. The irony is that some of the greatest celebrations yesterday were from those who doubted this would ever happen, or perhaps hoped it would not. The dip in the stock is / was rather less than one would have expected in a typical “better to travel than arrive” although the best part of the journey is still to come.
Eco Buildings Group (ECOB), the UK-listed modular housing innovator announced that it has signed a landmark agreement with the authorities in Chile to deliver 20,000 high-quality modular homes under the Chilean Government’s flagship social housing programme. The approximately €420 million contract spans seven years and marks Eco’s transition from certification to full-scale commercial rollout in Latin America.
Comment: One of the best RNS’s one could wish to see for a still only £26m market cap company. The momentum is certainly there to build up a significant pipeline, and for the share price to continue its 2x ascent in recent days.
Oriole Resources (ORR), the AIM quoted gold exploration company focused on West and Central Africa, published a maiden JORC Mineral Resource Estimate (‘MRE’) for the MB01-S zone at its 90% owned Mbe orogenic gold project in Cameroon. Independent consultant Forge International Limited has produced a pit constrained Inferred MRE for MB01-S of 24.8Mt at a grade of 1.09g/t for 870,000oz contained gold (‘Au’), using a US$3,200/oz gold price and a cut-off grade of 0.40g/t Au. The grade-tonnage analysis shows a high retention of ounces at lower gold prices. The MRE extends over a strike length of approximately 900m, a width of up to 700m and down to a maximum depth of 340m. It has significantly exceeded the upper range of the JORC Exploration Target range for MB01-S and is also higher grade.
Comment: If there ever was a time to release a MRE this is the time with gold just having soared past $4,000. The size of the strike alone commends ORR to us, as does the still modest market cap of the company.
Oracle Power (ORCP), an international project developer, announce re-commencement of drilling operations at its Northern Zone gold project, with the initial phase of grade control drilling already underway. The programme aims to expand the overall mineralised footprint, with initial drilling to target the shallower area between the western and eastern mineralised zones. ORCP said “Significant gold intercepts from 30 to 60 metres within the flat laying mineralisation of the oxide zone, above the fresh rock porphyry, have increased the footprint with every drill campaign. The grade control rig is the next step in the evolution of this project and will expand on the target for mineable material (see RNS dated 30 September 2025). We aim to continue expanding the potential gold mineralised footprint of the porphyry system that is located just 25km east of Kalgoorlie, Western Australia, with additional drilling.”
Comment: The right RNS at the right time is also what we are seeing at ORCP, which continues to finesse its prized Northern Zone asset, which shines on being in the right postcode, as well as the right metal.
GEO Exploration Limited (GEO), announced that it has acquired, through its 100% owned subsidiary Gorge Gold Pty Ltd, a new exploration licence covering the Gorge Project (E08/3737) located in Western Australia. The primary focus for Gorge Project is early-stage exploration for large scale gold deposits in an area which has historically only seen sparse exploration despite encouraging results from previous work. The acquisition expands the Company’s portfolio of highly prospective projects and provides a further opportunity for a potential transformational discovery.
Comment: While one wonders how economic it is to acquire a gold asset at this time in the cycle, this may be an unnecessary quibble given how hot the space currently is, and is likely to remain for the foreseeable future.
Mast Energy Developments PLC (MAST) announce a significant progress update regarding its initial 25 MW portfolio of flexible generation power projects, recently acquired as announced on 22 July 2025. This update reflects the Company’s continued execution of this new growth strategy in tandem with its other growth strategies, key milestones achieved to date, and forward plans to advance these projects towards construction-ready status and beyond.
Comment: Coming down the other side of the great rally it had earlier in the year, it would appear that the market’s enthusiasm for flexible power is not what it used to be, or the ability to execute may not be what it thought it would be in terms of cost or timeframe. Either way the shares remain under pressure.
Chesterfield Special Cylinders Holdings (CSC) provided a trading update for the 52 weeks to 27 September 2025. The Company expects to report FY25 full-year adjusted EBITDA ahead of market expectations at approximately £0.8m (FY24: adj. EBITDA loss of £0.9m) on revenue of approximately £16.5m (FY24: £14.8m) and a closing net cash** position of £2.1m (FY24: net borrowings of £0.9m). Strong growth from overseas defence contracts secured in the first half of the year offset lower revenue from UK naval new build contracts nearing completion, with record full-year revenue performances from UK naval Integrity Management deployments and hydrogen contracts.
Comment: It is always good to introduce a newbie to the RNS Hotlist, especially one with such a quaint Victorian sounding name. But at least the company is on the up, helped along by the hot defence sector.
Great Western Mining Corporation (GWMO) a strategic minerals exploration and development company, announced the successful completion of its reverse circulation (“RC”) drilling programme at the West Huntoon copper prospect in Mineral County, Nevada and the commencement of drilling at the highly prospective Rhyolite Dome gold target. The six-hole programme at West Huntoon, the Company’s flagship copper asset, was completed ahead of schedule and without incident, totalling 3,615 feet (1,102 metres). West Huntoon lies within a richly mineralised valley system that hosts multiple copper prospects within a 6 km radius, underscoring the broader potential of this emerging copper district. Samples from all holes are being dispatched for laboratory assay, with results expected in the coming weeks.
Comment: You know when you are in an almighty bull run for small cap resources plays, when not only are shares of GWMO in strong recovery mode, but they go up and stay up. They have more than doubled since the beginning of August.
East Star Resources (EST), which is exploring for copper and gold in Kazakhstan, announced that it has been awarded a new exploration licence – 3631-EL, encompassing the remaining part of the induced-polarisation (IP) anomaly north of the Rulikha Deposit. With the entire IP anomaly at Rulikha now under 100% ownership by East Star, execution of the next phase of exploration can begin.
Comment: Just when you might have thought that EST had enough on its plate, it acquires some more. That said, given how strong the resources space is at the moment, the more, the merrier.
Gelion plc (GELN), the global energy storage innovator, announced that the Tier One battery manufacturer with whom it has signed a full collaboration agreement is TDK Corporation (TDK), the Japan headquartered global electronics and battery manufacturer with over 100,000 employees worldwide, operating major manufacturing facilities across Asia, Europe, and the Americas, serving industries such as automotive, industrial, and consumer technology.
Comment: The perfect follow up announcement to its recent successful £10m fundraise. GELN is underlining that it is fully capable of working with the big boys and girls of the space, and become a scalable international business.
