London BTC Company (BTC), the London Stock Exchange main market-listed company, announced that the exploration programme currently underway at its 2,190 acre (8.86 km2) Teep Gold-Silver Project in the Tokop Mining District, Esmeralda County in Nevada has unearthed a larger mineralised system than previously reported. Reporting of gold and silver PhotonAssay™ results from the 78 samples, expected late September 2026. Reporting of multi-element results, including antimony, tungsten and porphyry pathfinder elements, expected late October 2026.
Comment: Although shares of BTC did rebound last month in line with a better performance on Bitcoin, the market is still to catch up with the prospects for the company in Nevada. As can be seen from today’s RNS we have a decent drivers to look forward to in terms of results from a larger that expected asset.
Anglesey Mining plc (YM), the UK-based mineral exploration and development company advancing the UK’s largest polymetallic Volcanic Massive Sulphide (“VMS”) project at the 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au VMS deposit in North Wales, announced the receipt of results for the exploratory geospatial analysis project from Satellite Applications Catapult (“Catapult”) and the British Geological Survey (“BGS”).
Highlights:
- Application of satellite-based technology and other modern datasets to prospective areas in and around the environment of Parys Mountain.
- Four target areas, in conjunction with our aero-geophysical programme, were identified for follow-up exploration.
- Earth observation work integrated with geological interpretations and modern geophysical datasets by the BGS, specifically in relation to VMS mineral systems.
Comment: The newly revamped AYM (its CEO) is certainly making progress, and we have seen this reflected by the shares up from 4p to 7p plus in recent weeks. We look forward to updates on the four target areas, something which should be a decent momentum driver for the rest of the year.
Iofina (IOF), specialists in the exploration and production of iodine and manufacturers of specialty chemical products, announced its unaudited Interim Results for the six months ended 30 June 2026. Record H1 revenue of $31.3m, up 7% (H1 25: $29.2m Gross Profit of $10.2m, up 62% (H1 25: $6.3m). Adjusted EBITDA1 of $6.6m, up 103% (H1 25: $3.3m). IOF said “The Group is strategically placed and is fulfilling its targeted business plan by executing aggressive expansionary initiatives, utilising its strong cash generation and favourable banking facilities to invest for growth. The Group expects record crystalline iodine production in 2026. IO#12, which is expected to come online imminently, is anticipated to add 170-220MT of crystalline iodine on an annualised basis. That, combined with both IO#13 and IO#14 being contracted to be operational by the end of H1 2027, demonstrates that Iofina is rapidly moving towards its objective of hitting 2000MT per annum.”
Comment: It is interesting that the first time I spoke with IOF President and CEO, Dr Tom Becker the impression was that the company was under serious management. The latest record results underline that since that interview exceptional progress has been made in the past couple of years.
Following the encouraging results from the recent Phase 4 drilling at the Mushima North Project, Tertiary Minerals plc (TYM) announces its plan to advance the project further and its intention to undertake a fundraising through the issue of new Ordinary Shares of 0.01 pence each in the Company. The Proposed Fundraise is being arranged by SP Angel Corporate Finance LLP, the Company’s joint broker.
Comment: Oh I see. The reason for the incessant RNS updates in recent weeks was as a teaser for a fundraise. Should have guessed. That said, Mushina North does seem to be a decent prospect. It ia not all about what level the fundraise will be at.
Hamak Strategy Limited (HAMA), a Company pursuing a dual strategy of gold exploration in West Africa and disciplined Bitcoin treasury management, announced that, following the recent price appreciation of Bitcoin (“BTC”) it has completed the sale of 8 BTC on 18 September 2026 at a price of £60,314.54 (approximately $80,671) per BTC, generating gross proceeds of £482,516.32. The proceeds will be used to progress the Preliminary Economic Assessment (“PEA”) at its Akoko Gold Project in Ghana as well as retire a portion of the Company’s existing debt, and for general working capital purposes. The sale is solely intended to address these short-term funding objectives and leaves Hamak’s longer-term commitment to both gold and Bitcoin unchanged.
Comment: It is good news for HAMA holders that their company has a store of value to sell in order to fund its day job, advancing a gold project in Ghana. That said, it may be a tad early on a Monday morning, but I did not see how much they paid for the BTC they have just sold.
Ininity Energy Systems plc (IES), a global leader in vanadium flow battery technology, announced its unaudited consolidated results for the six months ended 30 June 2026 and an update on trading in the year to date. Revenue and Project Grant Income increased to £1.7m (H1 2025: £0.9m); Gross Loss reduced by 62% to £0.7m (H1 2025: £1.9m), reflecting improved product margins resulting from the cost down programme, reduced warranty costs and increased manufacturing activities supporting higher absorption of factory overhead; Loss for the Period increased by 14% to £12.1m (H1 2025: £10.6m) reflecting increased investment in R&D to deliver the Company’s cost-down programme;
Comment: We had been treated to a great May / June rally for shares of IES. However, it is perhaps the case that the market got a bit ahead of itself in terms of looking forward to a lasting fundamental recovery here. This is especially the case until the company’s “cost-down programme” is resolved.
Reabold (RBD) noted the publication on 11 September 2026 of the circular containing, inter alia, the views of the recently appointed Union Jack board with regard to the all-share offer for Union Jack by Reabold. The Reabold Board believes that the Circular contains a number of misleading, selective and highly speculative statements regarding Reabold, the Offer and the West Newton project. Reabold believes the rejection by the New Board of the Offer to be self-serving for and not in the best interests of Union Jack as a whole or for Union Jack Shareholders. Reabold hereby wishes to set out its view with regard to assertions in the Circular. Reabold remains strongly of the view that the Offer represents the most credible route to value creation for Union Jack Shareholders in the circumstances and that its terms are fair and reasonable for Union Jack Shareholders and Reabold Shareholders alike.
Comment: On the face of it UJO not wrapping its arms around RBD is madness, and indeed, it seems to be a case of a Ford Mondeo owner rejecting an offer of a Porsche 911. This seems to be a matter of mystery as much as the service providers involved, as the management’s alignment with its shareholders.
Powerhouse Energy Group plc (PHE), the UK technology company pioneering integrated technology that converts non-recyclable waste into low carbon energy together with a revenue generating engineering consulting division (Engsolve), announced its unaudited half year report for the six months ended 30 June 2026. PHE said “PHE started 2026 with great momentum. During the period the Company, through its focused business strategy, has continued to progress with our prioritised projects with National Hydrogen Australia and at Ballymena; delivering key project milestones. We were also very pleased to see that this momentum enabled us to record our first revenues into PHE through the provision of third party services. The Engsolve team has also been extremely active delivering a very strong order book in H1 which continues to contribute greatly to the Group, bringing new revenue streams into the Company whilst continuing to provide support to PHE and its strategy.”
Comment: People have grown old waiting PHE to get over the line, whatever that line may actually be. That said, the company is in what seems to be at least a benign holding pattern, even if it has been circling the airport for longer than anyone would have wished for.
