MedPal AI Plc (MPAL), the UK digital health and AI company, has conditionally raised gross proceeds of approximately £5.0 million at a price of 3.5 pence per share. The Fundraise has been arranged by OAK Securities as sole broker to the Fundraise. Proceeds fund the acquisition of Solid State Technologies Ltd, a profitable electronic Medicines Administration Record (“eMAR”) software business, completing MedPal’s closed-loop care-home medication platform. Positions the Company to capture the UK launch of the oral GLP-1 weight-loss pill (oral Wegovy®), launching in the UK on 6 July 2026, through investment in stock and patient acquisition. Strengthens working capital to support record NHS dispensing volumes and continued growth across the Company’s vertically integrated platform.
Comment: It could be said that the run up to the Wegovy launch is almost as momentous at the run up to the Taylor Swift wedding, in MPAL’s chosen area. Therefore, it is understandable that the company has chosen to be as cashed up as possible in addition to going for a software acquisition. All of this is clearly designed to ensure that MPAL can continue to scale up towards market leader status.
United Oil & Gas Plc (UOG), the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK is pleased to announce a placing at a price of 0.20p per share, raising gross proceeds of £500,000 before expenses, by two long term institutional shareholders arranged by Tennyson Securities. The Issue Price represents a modest discount to the closing mid-market price of 0.23p on 2 July 2026 being the last day prior to the publication of this announcement. Net proceeds will be applied to strengthen the Company’s working capital position as it continues to advance the farm-out of the Walton-Morant Licence.
Comment: Just when you may have thought that UOG would allow its share price to go up and stay up, the company takes advantage of the recent somewhat mysterious share price rise to raise yet more cash. One wonders how much money is required to advance a farm-out? But summer is here and it is always prudent to make sure there is enough in the kitty at this time of year.
Ilika (IKA), the UK pioneer in solid-state battery technology, confirmed that further the Company has conditionally raised gross proceeds of approximately £4.56 million at a price of 28 pence per Ordinary Share. In addition to the Placing and Subscription, the Company proposes to raise up to a further £0.5 million to existing retail Shareholders. The net proceeds of the Capital Raising will be used to advance the commercial status of the Company’s two product lines, specifically supporting the commercial launch and ramp up of the small format Stereax technology, and the continued development and delivery of the large format Goliath technology, through to a position where it will be possible to secure commercial licensing agreements with commercial partners.
Comment: There would appear to be a pattern at the moment as far as companies raising money before we all head off to the beach this summer. At least in the case IKA this would appear to be a serious raise with a serious purpose, not just a tiding it over affair until the autumn.
Cobra (COBR), a South Australian mineral exploration and development company, announced the appointment of Stephen McIntosh as Strategic & Technical Advisor to the Company to support the advancement of Cobra’s Heavy Rare Earth Project through technical and economic studies and accelerate exploration at its Manna Hill Copper Project. Stephen has 39 years of global experience in the resources sector. He spent 33 years with the Rio Tinto, culminating in the role of Group Executive, Growth & Innovation. In that role he had accountability for most of Rio Tinto’s global technical functions including exploration, studies, construction and technical services, IT and data science.
Comment: One always (slightly) wonders why former employees of the mining giants then go off to work at relative minnows. The usual story is that they migrate to smaller companies because they are excited by the opportunity. In fact, let’s stick with that theory.
Amaroq Ltd. (AMRQ), an independent mine development company focused on unlocking Greenland’s mineral potential, announced an update in relation to the proposed admission of the Company’s common shares to the equity shares category of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc. AMRQ said “Amaroq has achieved significant milestones in recent years as we continue to advance our portfolio and position the Company for long-term growth. Our intention to seek admission to the Main Market reflects both the progress we have made and our confidence in the future. We believe that a move to the Main Market will enhance our visibility in the capital markets, support access to a broader pool of institutional capital, and further strengthen our platform as we continue to execute our growth strategy.”
Comment: AMRQ is one of an interesting bunch of companies that appear to have chosen to have regular crackpot commentary on them, and apparently not being concerned about how much that source may or may not have lost private investors over the years. We are assured that the move from AIM to the main market is not the forerunner to a fundraise, something which rather makes it pointless.
Helix Exploration PLC (HEX) the US based helium producer, announced, further to the announcement made on 2 July 2026, the completion of the Placing at the Issue Price of 22 pence per share. The Placing has conditionally raised gross proceeds of approximately £16 million. In addition to the Placing, the Company has also separately engaged RetailBook to raise up to £1.6 million.
Comment: Yesterday HEX said “The conditional acquisition of the Keyes Helium Complex is a strategically significant step that positions Helix within a rapidly tightening US helium market. One could argue that the reason the US helium market is rapidly tightening is because hardly any of the companies who could or should be producing are instead either just acquiring or exploring.
Strategic Minerals (SML), an international mineral exploration and production company, provided an update on the ongoing infill drilling programme at its Redmoor Tungsten-Tin-Copper Project, located in Cornwall, UK, following the receipt of planning permission to expand the programme. Redmoor is being developed by the Company’s wholly owned subsidiary, Cornwall Resources Limited. SML said “Receiving planning permission to begin the largest continuous diamond drilling campaign ever undertaken in Cornwall highlights the high-quality submission and effective process undertaken by CRL, with thanks to the Mineral Planning Authority and others for assistance throughout. CRL has previously completed a planning permission for drilling, as well as undertaking drilling through General Permitted Development Orders, with the planning permissions allowing for programmes to be completed over longer time periods beyond 6-months. CRL remained confident throughout the process that it could therefore secure the necessary consent and demonstrate its effective and sensitive operational standards, and strong social license. Our public engagement process will continue throughout the programme’s delivery.”
Comment: Shares of SML rose so much last year and earlier this year, they are still taking up the slack of all those gains. While news such as today’s should be the driver for a resumption of the rally, one is cognisant that there will still be weak hands in the stock looking to crystallise gains.
80 Mile PLC (80M), the AIM, FSE, and OTC listed exploration and development company with projects in Greenland, Finland and Italy, would like to advise that Roderick McIllree, Executive Director of 80 Mile, has been appointed Managing Director of Greenland Energy Company (NASDAQ: GLND), the Company’s joint venture partner for the Jameson Land Basin Project, with immediate effect. Mr. McIllree will oversee Greenland Energy Company’s day-to-day activities in Greenland, with a primary focus on permitting, regulatory engagement and stakeholder relations in support of the planned exploration programme at Jameson. Under a farm-in arrangement, Greenland Energy Company a company listed on the NASDAQ stock exchange in New York has the obligation to drill two exploration wells of approximately 3,500 metres each to earn a 50% interest in the project upon completion of the first well and an additional 20% interest upon completion of the second well. The total expected cost of this drilling campaign is US$70m.
Comment: Followers of Peppa Pig will be aware that Miss Rabbitt tended to have multiple jobs during the series, and therefore may not be surprised that our Roderick has a new hat to wear at GLND. Presumably, those hyping up GLND incessantly on X will have another excuse to do so again after today’s news. Judging by the trajectory of the shares, they need to try a little harder.
