Orosur Mining Inc. (OMI) announced its audited results for the fiscal year ended May 31, 2025. OMI said “Given the recent acquisition by the Company of MMA, through which the Company has retaken 100% of its flagship project at Anza; the spectacular results at Pepas; and the encouraging results at the Company’s El Pantano Project in Argentina, the Company will focus its investment principally in these areas. In Colombia, within the Anza Project, the Company is aiming for a Mineral Resource Estimate by December this year at Pepas, to be followed by an economic assessment of potential near term production at Pepas. Thereafter the Company will return to wider exploration drilling, including at APTA. Further exploration will continue around the El Cedro prospect which could host a porphyry system with a view to potential drilling next year. In Argentina, the Company aims to carry out a drilling program, later this year, to follow up on targets established by all of the Company’s previous exploration work at its El Pantano Project.
Comment: One of the issues that successfully / well managed companies have is that they risk over-expanding / biting off more than they can chew. In the case of OMI the key here is not to lose focus of Anza, however well Argentina et al manage to do.
Rockfire Resources (ROCK), the base metal, critical mineral and precious metal exploration company, announced that the Company has entered into a new Farm-in Agreement with Eastern Resources Limited (at its 100%-owned Marengo Gold Project in Queensland, Australia. The purpose of the Farm-in will be to advance exploration for high-grade gold, silver and copper.
Comment: Just when you thought it was all about Greece and Molaoi, ROCK grabs a rabbit out of a hat regarding Australia. This may be just as well given the way that the share price seems to need more than just one asset to keep the momentum going.
Vault Ventures (VULT) announced its unaudited interim results for the period ended 30 June 2025. On 28 September 2025, the Company’s treasury holdings comprised approximately 818.85 ETH and 2,201.10 SOL with an aggregate value of £2.83 million based on a price of £3,034/ETH and £155/SOL. The Company achieved an unrealised gain of approximately £765K ($1.03 million), primarily attributable to the significant appreciation of Ethereum since July, when the Company made a substantial purchase.
Comment: At the moment, and now much of the treasury hype has died, VULT appears subscale, even if the concept is good, especially on the ETH side.
Cooks Coffee Company (AQUIS:COOK), the international coffee-focused café chain, provided a half-year trading update on the systemwide performance of its Esquires (The Organic Coffee Company) branded franchised stores in the UK and Ireland, for the 26 weeks ended 28 September 2025, being the first half of the financial year ending 31 March 2026. Systemwide store sales in the UK and Ireland increased 26.9%, reflecting continued momentum across the Company. Like-for-like sales growth was +3.5% in the UK and +6.4% in Ireland, indicating underlying strength in established stores.
Comment: It would appear that challenger coffee pedlars such as COOK are eating the lunches of the some of the existing players, as their brands and the approaches get tired. That said, some revenue and p/l numbers would have been good here.
Solid State (SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, announced its manufacturing subsidiary, Steatite, has been awarded a £1.65 million contract by The Defence Science and Technology Laboratory (DSTL), an executive agency of the Ministry of Defence (MOD) of the United Kingdom, to design, develop, qualify, and supply complex integrated systems.
Comment: This is the kind of hush-hush deal with the MoD that one would be expecting Defence Holdings (ALRT) to be delivering any day now, only SOLI has done it already. Perhaps SOLI deserves the kind of stock market rating ALRT has?
EnergyPathways (EPP), the energy transition company, announced that the Rt Hon, Ed Miliband, the UK’s Secretary of State for Energy Security and Net Zero, has formally directed that the major elements of the Company’s flagship MESH project be treated as a development of national significance requiring development consent under the Planning Act 2008. With the Secretary of State’s decision, the major elements of the MESH project will now follow the priority development authorisation processes under the Planning Act 2008, reserved for projects of national significance in energy and other sectors.
Comment: A slight sense of déjà vu from Friday. But while shares of EPP have thankfully rebounded, even going to £1 a share (anything is possible) would not override the view that Ed Milliband is a wally, and that Net Zero is a disaster for the taxpayer, and will make no difference on a world scale. We only need energy storage because we closed down the North Sea and have to rely on imports.
Huddled Group (HUD) reported its unaudited interim results for the six months ending June 30, 2025. Revenue increased 81% to £9.48m (H1 2024: £5.25m). Discount Dragon revenue increased 10% compared to H1 2024 with orders up 14%. Nutricircle revenue increased 621% compared to H1 2024 with orders up 768%. Boop Beauty H1 2025 revenue of £1.58m following its relaunch in September 2024. Over 4m items saved from going to waste. Over 292,000 orders in the Period, up 98% from H1 2024
Comment: HUD is shaping up to be a great growth story, with most of the metrics here skyrocketing. The only thing left now is for more in the market to have heard about the company.
Galileo (GLR), the exploration and development mining company, announced its audited results for the year ended 31 March 2025. GLR said “Currently, the majors seem reluctant to become involved in copper exploration, even though their annual reports and media comments recognise the likelihood of supply shortage. This misalignment of comment and real action surprises us somewhat, but our long experience in the industry suggests that this means that the tide will turn into a tsunami unless addressed in the short-term.”
Comment: The US grab for critical metals supply and security has been a key driver for small cap explorers and developers like GLR, and this is starting to feed through in terms of sentiment. One would expect this to have made its mark for GLR at the interim stage.
Mkango Resources (MKA) announced that its indirect wholly owned subsidiary, Lancaster Exploration Limited (“MKAR,” to be renamed Mkango Rare Earths Limited) has entered into a Project Development Funding Agreement with the U.S. International Development Finance Corporation, the U.S. government’s development finance institution, to secure US$ 4.6 million in reimbursable funding.
Comment: Now we know how and why shares of MKA have been rising strongly since the recent placing at 35p. It would appear that lots of people successfully guessed the DFC’s latest move. Mum’s the word.
East Star Resources (EST), which is exploring for copper and gold in Kazakhstan, presented its half year report for the six-month period ended 30 June 2025. The company announced results of late 2024 drilling at Verkhuba with all three holes intersecting new ore-grade mineralisation outside the current resource envelope, supporting potential to expand the Mineral Resource and reduce future strip ratio of open pit-development. EST said “With copper supply deficits forecast to deepen in the medium term, gold trading at record highs, and Kazakhstan offering one of the world’s most prospective but underexplored jurisdictions, we believe East Star is exceptionally well placed to deliver returns through discovery and resource development.”
Comment: EST still has Verkhuba as its star asset, something which provides decent focus for the sprawling company, and should all the stock to re-rate as we have seen many of its peers have done in the wake of the tariff wars and the US looking to secure critical mineral supplies.
Mindflair (MFAI), the company focused on investing in AI related technology, is announced its unaudited interim results for the six-month period ended 30 June 2025. NAV per share as at the period end was 1.98 pence (31 December 2024: 2.05 pence) compared to the current share price of 0.85 pence as at 26 September 2025 so the Company is currently trading at a 57% discount to NAV.
Comment: There should be a rule on the stock market that no companies trade below NAV, or it should be revealed what that the NAV is a bogus number. Once again we have evidence that there is little point in investment companies being listed. But alas that also applies to many non-investment companies as well.
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