Zenith Energy Ltd. (ZEN) announced the appointment of Mr. Charles Michel, the former President of the European Council (2019-2024) and former Prime Minister of Belgium (2014-2019), to further strengthen the legal team of its claimant subsidiaries in the arbitration proceedings brought before the International Centre for Settlement of Investment Disputes against the Republic of Tunisia. The Company confirmed the appointment of Ms. Julie Spinelli, a leading French counsel and arbitrator specialised in ad hoc and institutional (ICC, LCIA, ICSID, SCC, CMAP and UNCITRAL) arbitration proceedings, for States, state-owned entities as well as multinational companies in complex disputes, including within the energy sector. The final hearing in the ICSID arbitration proceedings, brought under the UK-Tunisia Bilateral Investment Treaty against the Republic of Tunisia, is scheduled to commence on April 20, 2026.
Comment: We see ZEN revving up for its Tunisian claim, and one presumes that the great and the good who it is amassing of the legal world would not be coming to the party unless they thought it was going to be a cracker.
Light Science Technologies Holdings plc (LST), the controlled environment agriculture and passive fire protection group, noted the recent publication of the UK Government’s Building Safety Regulator Strategic Plan for 2026-2027, which highlights the need to cut delays and expediate cladding remediation schemes. LST said “The Board believes that the measures highlighted in this plan represent a positive step towards unlocking the BSR backlog. In particular, the introduction of clearer timelines, improved regulator-industry coordination, and a stated commitment to removing approval bottlenecks will help to support the conversion of the Company’s existing project backlog into active revenue-generating contracts.”
Comment: It is always welcome when growth companies get a little help from shifts in regulation, which as we all know get more and more draconian by the day. LST is stabilizing after the big fund raise. But it would appear a little more time is required for the dust to settle.
Thor Explorations (THX) provided an operational and financial review for its Segilola Gold mine, located in Nigeria, and for the Company’s mineral exploration properties located in Nigeria, Senegal and Côte d’Ivoire for the three months ending December 31, 2025 and the audited financial results for the year ending December 31, 2025. 94,130 ounces of gold sold (FY 2024: 84,965 oz) with an average gold price of US$3,422 per oz (FY 2024: US$2,288). FY 2025 revenue of US$325.5 million (FY 2024: US$193.1 million). FY 2025 net profit of US$196.2 million (FY 2024: US$91.1 million). THX said “In 2026, we are looking to take another step closer to developing the Douta Gold Project in Senegal and growing from a single mine producer whilst also aiming to extend the Segilola Mine life. In 2025, we increased our economic ownership of the Douta Project to 100% and its Preliminary Feasibility Study has defined a financially robust project with a US$ Pre-tax project NPV5% of US$908 million and IRR of 73% (100% equity basis) at a long-term gold price assumption of US$3,500/oz. Significantly, our acquisition of the Bousankhoba licence has enabled us to expand the project footprint and we believe the project continues to have promising growth potential.”
Comment: The point of note in THX’s already great update is the way that the average gold price is $1,500 below the current gold price, an average which should rise very nicely in coming months. While the shares remain on the right side of the channel floor at 70p, one would be looking to a journey towards the big 100p level in time for the summer.
Rome Resources plc (RMR), the DRC-focused tin and copper explorer, is pleased to provide an update on its drilling operations at the Kalayi prospect within its Bisie North project in the Democratic Republic of Congo, located approximately 8 km from the world-class Alphamin Mpama tin mine complex. Drilling operations for the current drilling campaign completed on 4 April 2026, having been active since December 2025. The Kalayi prospect represented the bulk of the total metres drilled, being 91%, where the board of directors of Rome Resources believe the presence of near surface high-grade tin mineralisation exists and the potential for continued mineralisation at depth.
Comment: Drill, baby, drill is the message of the moment throughout the explorer / developer space, and as far as RMR is concerned this has been the mantra for months. Presumably once the market sees the results it is looking for, the share price will finally respond in kind.
Great Southern Copper plc (GSCU), the company focused on copper-gold-silver exploration in Chile, announced that it has received final results from a recently completed ground magnetic survey at its Viuda porphyry gold-copper prospect located within the Company’s Especularita Project. GSCU said “The completion of the ground magnetic survey at Viuda represents an important step in advancing our understanding of this emerging porphyry-related gold-copper system. The results clearly define broad-scale geological features as well as discrete magnetic-low features that coincide with mapped alteration and known gold-copper mineralisation, reinforcing our interpretation that mineralisation is potentially related to magnetic porphyry intrusives and associated enveloping zones of magnetite-destructive alteration.
Comment: We have grown accustomed to seeing great results from GSCU on a consistent basis, and today’s RNS underlines this. The only thing missing this year, as opposed to last year is that the share price is not as reactive as it once was to the good news.
Astrid Intelligence PLC (AQSE: ASTR), the decentralised AI infrastructure operating company, provided an update on its operational participation in Subnet 18, an independent AI start up within the Bittensor ecosystem. ASTR said “Bittensor is extremely good at innovating in or revolutionising entrenched incumbent industries, due to the power of its globally distributed miner network. Weather forecasting is one of humans longest endeavours and Zeus have managed to become state of the art in little under a year from launch. We are delighted to be partnering with the team.”
Comment: Rather helpfully on this occasion there is an explanation in the RNS as to what the whole Bittensor phenomenon is all about. But just when one has understood all that, we have the weather forecasting angle, something which presumably Michael Fish would appreciate.
ImmuPharma PLC (IMM), the specialist drug discovery and development company, outlined an open letter to shareholders from the Chairman, Tim McCarthy. This follows on from this week’s announcement, confirming that both resolutions proposed at the General meeting held on Tuesday 7 April 2026, were approved by Shareholders. IMM said “The approval of these resolutions enables us to complete the fundraising, comprising a £6 million Lanstead subscription, alongside a £468k WRAP retail component. This significantly strengthens our balance sheet and provides the capital required to advance our key strategic priorities. Our primary focus remains on securing a value-enhancing partnering agreement for our lead auto-immune technology platform, P140, during 2026. Recent progress continues to reinforce both the scientific rationale and commercial positioning of this program, and the management team is actively engaged in progressing discussions toward this objective.”
Comment: The magic word Lanstead may be one that the market has not embraced, especially judging by the way that the shares are only a quarter of where they were in September. All of this suggests that while IMM may be all cashed up, we really need to see P140 live up to already high expectations.
The Smarter Web Company (SWC) announced the results of the discounted voluntary purchase offer announced on 8 April 2026 for warrant holders to realise value from the Pre-IPO warrants ahead of their vesting. The total Pre-IPO Warrants purchased under the Voluntary Purchase Offer was 39,000,000 for total consideration of £8,775,000 at a price of 22.5 pence per warrant. The effective price paid for the warrants represents approximately 0.7 mNAV. All warrants purchased under the Voluntary Purchase Offer will be cancelled.
Comment: The point of interest here would appear to be the 0.7 mNAV, which as compared the dizzy heights of last summer, would appear to be a bargain. That said, the jury is still very much out as the whole BTC Treasury model, especially with the digital asset at $70,000.
SEEEN PLC (SEEN) announced the launch of its interactive investor hub. For both existing and prospective shareholders, the new investor hub brings all SEEEN PLC content into a single integrated platform to better inform and engage with investors and stakeholders.
Comment: It has to be said that one’s delight regarding a company offering a shiny, new website is always welcome, even though at the back of one’s mine one always thinks that a company could do this itself, rather than necessarily use a service provider.
Mkango Resources Ltd. (MKA) announced that HyProMag GmbH has completed the first commissioning runs for the commercial scale Hydrogen Processing of Magnet Scrap vessel at its rare earth magnet recycling and manufacturing plant located in Pforzheim, Germany. The Plant consists of a commercial scale rare earth sintered magnet recycling and manufacturing line, underpinned by the patented HPMS technology. The Plant is fully permitted for production of up to 750 tonnes per annum of neodymium-iron-boron (“NdFeB”) magnets and alloys, and HyProMag GmbH is targeting phased scale-up to this level over the next three years.
Comment: Shares of MKA have certainly come off the boil since the heady levels of the autumn, and the start of this year. That said, with the newsflow still as solid as ever, the shares near 30p seem to have removed any of the froth they had in recent months.
ITM Power (ITM) announced that it has secured an investment of £40 million through a non-pre-emptive subscription by Great British Energy Group Limited. Furthermore, it has received a letter from the Department for Energy Security and Net Zero (confirming their intention to award us a grant of £46.5 million. The Subscription and the Grant will support the establishment of operational capability to manufacture its next-generation Chronos electrolyser stack technology.
Comment: Free money is always nice, and that is what ITM can boast today. It has certainly been a long journey, but announcements today underline that the business model here is finally coming of age, and that the valuation of the company is more than justified.
Avacta Therapeutics (AVCT), a clinical stage biopharmaceutical company developing pre|CISION®, a tumor-activated oncology delivery platform, today provides a business update through the first quarter of 2026. AVCT said “Our first, second and third generation assets are all attracting substantial interest from multiple parties for potential partnering. With our recent financing completed, we now have funding in place beyond multiple value inflection points through the rest of 2026 and we are excited about this potentially transformative period for the Company, delivering benefit for our patients and our shareholders alike.”
Comment: It is a business update, but perhaps the missing ingredient here remains the difference between the prospects of business, rather than actually doing business. That said, the company is keen to underline that it is getting there.
European Green Transition plc (EGT), a company operating in the critical infrastructure sector, provides an operational update on its Wind Energy Services business for the three months ended 31 March 2026. Further to EGT’s successful and oversubscribed £7.5 million fundraise and the completion of the acquisition of the Wind Energy Services business, the Company has had a positive start to 2026, with continued momentum across its repowering pipeline and order book, under its brands Earthmill Maintenance, Silverford Engineering and Wind Energy Partnership (WEP).
Comment: Given the ongoing shenanigans regarding Iran, we are reminded not only of how important green / renewable energy is, but also that EGT has pivoted into an area which should be a leading one over the next few years, with or without the help of Ed Miliband, and his sandwich eating skills.
MobilityOne (MBO), the e-commerce infrastructure payment solutions and platform provider, noted the recent media commentary stating, inter alia, that MobilityOne Sdn Bhd has secured a full-fledged Shariah-compliant Islamic digital banking licence from the Labuan Financial Services Authority. On 31 December 2025, MobilityOne announced that MobilityOne Sdn Bhd, the Group’s wholly-owned operating subsidiary in Malaysia, had received conditional approval from Labuan Financial Services Authority for M1 Malaysia to establish a subsidiary in Labuan to be named MBO Bank (Labuan) Limited, to carry on Islamic digital banking business in Labuan, Malaysia.
Comment: There have been periodic updates from MBO regarding the ins and outs of Islamic digital banking licences, which have so far done nothing to upset the share price. Indeed, we are up 5x so far this year, even after today’s pullback in response to the RNS regarding media speculation.
Wishbone Gold (WSBN) announced the signing of an option for a cash payment of £100,000, to acquire the Silver Lake Project, a silver prospect in the Carnarvon Basin of Western Australia. WSBN set out some historic data which will be further analyzed prior to any acquisition. Should the acquisition proceed on the proposed basis the purchase price will be 3,571,777 ordinary shares in Wishbone. The tenement of the Project is over 422km2 and has extensive surface-level silver mineralisation along a 35km structural corridor. In addition, numerous bentonite occurrences alongside phosphate have been recorded within the project.
Comment: It is interesting that WSBN is engaging in a land grab at this stage of the cycle, even as Red Setter continues to be proved up. Ideally, the company becomes de-risked by not having all its eggs in one basket. Using shares for the latest acquisition with be a relief to some.
