(Citywire) FCA looks at urgent review into unregulated advice given by AI: The Mills Review calls on the regulator to scrutinise unregulated advice given by AI platforms, which threatens to create ‘competitive asymmetry’ and an ‘uneven playing field’
Comment: Given how difficult it is to even grapple with unregulated human advice, especially from crackpot / bullying / vigilante sources which it apparently welcomes, one would imagine that the FCA will have its work cut out dealing with rogue AI sources of insight into the market. That said, one would imagine it could just simply pull the relevants plug, cut off the wifi.
IntelliAM AI Plc (AQSE: INT), a provider of AI-driven software solutions for the manufacturing and engineering sectors, announced that it has raised, in aggregate, £500,000 (before expenses) through a combination of: (i) a placing of 314,285 new ordinary shares of £0.005 each in the capital of the Company at a price of 70 pence per share to raise c£220,000; and (ii) the issue of £280,000 unsecured convertible loan notes.
Comment: At the time of the share swap with Lift (AQSE:LFT), the cash and revenue position of INT was questioned by some siren voices when shares of the company were 115p. We are now looking at a share price of 70p. But at least it was a way of the powers that be at LFT to get 9% of the company at the time, and therefore the fact that shareholders of LFT are down nearly 50% on the share swap is of lesser importance.
Great Western Mining Corporation PLC (GWMO), a strategic minerals exploration and development company, announced assay results from a machine-cut channel sampling programme at its Defender-Pine Crow in Mineral County, Nevada, USA. GWMO said “Following our initial channelling in December 2025, additional machine-cut channelling in April 2026 has confirmed broad and significant tungsten mineralisation at the historic Dough God and Pine Crow Mines. A further channel at the historic Widowmaker Mine, supported by new in-situ rock chip samples, extends the tungsten trend a further 1 km west from Pine Crow and strengthens our interpretation of a significant at-surface, multi-kilometre tungsten corridor. Silver mineralisation over intervals at Widowmaker is a welcome credit.”
Comment: Given that a sizeable chunk of the stock market enthusiasm for explorer / developers has waned, it may be the case that GWMO’s plans to be the next Guardian Metal (GMET) may have to be put on hold. Nevertheless, the tungsten story here does seem to have legs, the slightly ominous “Widowmaker” mine name notwithstanding.
Alien Metals Limited (UFO), a minerals exploration and development company, is pleased to announced that it has entered into a conditional agreement with Venari Minerals Ltd (ASX: VMS) to acquire 100% of the fully paid ordinary shares in the capital of Knox Resources Pty Ltd, a wholly owned subsidiary of Venari. Knox is the 100% legal and beneficial owner of the Georgina Basin Iron-Oxide Copper Gold (“IOCG”) project (the “Project” or “Georgina Basin Project”), comprising a tenement package totaling approximately 2,500 km² located in the Northern Territory, Australia.
Comment: It has been a long road for UFO shareholders, with lots of projects under its belt in recent years. One would have hoped that the company could have taken a profit on some assets after the recent bubble in the space, rather than buying fresh ones arguably just after the peak.
Coiled Therapeutics (COIL), the clinical-stage oncology company developing precision medicines for hard-to-treat cancers, announced the development of a next-generation oral formulation of AO-252, its first-in-class, brain-penetrant TACC3 inhibitor. First patient dosing with the new formulation is expected in July 2026, representing an important milestone in the execution of the Company’s previously announced H2 2026 development roadmap. COIL said “We are excited to dose our next patients with the new formulation which we expect to happen this month. It is a key step in our dose expansion programme in ovarian and prostate cancers and builds on the exposure-response signal we have already observed with AO-252. The softgel formulation is designed to address the absorption limitations in the current tablet. Combined with the clinical benefit data demonstrated by the current formulation, we believe the new formulation has the potential to further strengthens AO-252’s potential to deliver meaningful clinical outcomes as we advance into dose expansion.”
Comment: There are decent noises coming up from COIL, with the only thing missing being that the company does not yet have the kind of Avactamania (AVCT) that one needs to really get the share price going. That said, one presumes that COIL also does not have the kind of cash burn / debt structure that our friends at AVCT have either.
Reveille [AQSE: REV], a UK natural resources exploration and development company, established to pursue Uranium opportunities in Europe with a primary focus on Italy’s largest uranium deposits, announced that its ordinary shares of 1 pence each will today be admitted to trading on the Aquis Growth Market operated by the Aquis Stock Exchange. Dealings will commence at 08:00 under the ticker: ‘REV”. The Company’s ISIN is: GB00BXFJC848. The Company has successfully raised gross proceeds of £2.0 million following the subscription of 40,000,000 Ordinary Shares at a price of 5 pence per share. Prior to the Fundraise, the Company raised a total of £680,000 by way of pre-IPO subscriptions.
Comment: Having had the full Aquis experience, I would imagine that even the exchange itself would admit that it is not quite on a par with the Jimi Hendrix or Dame Edna Experiences. That said, a listing here remains the most cost effective on the London market, even though ending up like a Delta Gold, or a Smarter Web, takes some doing. For REV to follow in such a manner will take all the hype it can muster.
Keller Group plc (KLR), the world’s largest geotechnical specialist contractor, issued a trading update ahead of its interim results for the six months ended 30 June, scheduled for 4 August 2026. Since the AGM trading update on 20 May, in which the Group reported a strong start to the year, positive momentum has accelerated. The Group has delivered an excellent performance through the remainder of the second quarter with trading in North America, the Group’s largest division, materially outperforming management’s expectations. The division has benefited from record volumes and a significant increase in customer demand for infrastructure projects and data centres which has more than offset a softening south Florida residential market. During the period, the division has worked on multiple data centre projects and has won several high value infrastructure contracts where clients are focused on timely and quality delivery across complex and/or large scale projects.
Comment: Sometimes one just feels like getting away from the minnows and looking at a company that has already been there, done that. Even better as far as KLR is concerned, it proves the saying that elephants cannot gallop, in the sense that this £2bn market cap company currently has its shares surging to new highs.
EnSilica plc (AIM: ENSI), a leading fabless microchip maker with a growing portfolio of reusable IP, serving the Space and Communications, Industrial, and Automotive markets, announced a proposed equity fundraising by way of an accelerated bookbuild. The Board announced that the Bookbuild has concluded and that it has conditionally raised gross proceeds of approximately £14 million at the Issue Price of 91 pence per share through: (i) the Placing of 15,381,315 Placing Shares to new and existing institutional investors; and (ii) the Subscription for 3,300 Subscription Shares. The net proceeds of the Placing and the Subscription will enable the Company to accelerate new products and projects and its growing contract pipeline, as set out in the Fundraising Announcement.
Comment: After the massive share price re-rate, mostly after an interview with my good self, it would have been rude for ENSI not to raise a whole load of cash, from a market hungry for UK tech success stories. Indeed, this company could be one of the few, genuine home grown contenders in its field on the international stage.
First Class Metals PLC (FCM) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, reported the final, cumulative drill results for the Roy drilling programme on the Sunbeam Property. FCM said “The final assay results from the drilling at Roy have confirmed our belief in the potential for the Roy trend. The visible gold presence is supported by both photon and fire assay analysis, giving us further confidence in the high-grade nature of the mineralisation.”
Comment: Another chirpy, typically chirpy update from Marc Sale and the lads at FCM. The only slight negative is that the shares are now back below last month’s 3.8p fundraise level. But at least the company can now relax and get on with the job of exploring through the peak summer season.
Clean Power Hydrogen plc (CPH2), the UK-based green hydrogen technology company, confirms that it has requested the suspension of trading in the Company’s ordinary shares to be lifted at 7.30 a.m. today. This follows the announcement of the proposed Fundraising on 1 July 2026. The Firm Placing element of the Fundraising, which raised gross proceeds of approximately £2.54 million, is expected to complete today following the Admission of the Firm Placing Shares to trading on AIM. The net proceeds of the Firm Placing are expected to address the Company’s constrained working capital position by providing the Company with sufficient working capital through to December 2026. Subject to completion of the remaining elements of the Fundraising, the total net proceeds are expected to support the Company’s revised strategic direction with a focus on transitioning towards a capital-light model, centred on strategic partnerships, manufacturing agreements and the global licensing of its proprietary technology and are expected to provide the Company with sufficient working capital for at least the 12-month period ending June 2027.
Comment: Those of a certain age still talk about where they were when Kennedy / Lennon were shot. No doubt anyone alive looking at the stock market in July 2026 will never forget the level of discount on the CPH2 fundraise, and carry it with them to tell future generations. After all this one hopes the “capital light model” delivers the goods over the next 12 months.
The Beauty Tech Group plc (TBTG), a global leader in the rapidly growing at-home beauty technology market, announced a trading update for the six months ended 30 June 2026 and upgrades its expectations for the full year. The Group has continued to perform well in the first six months of the financial year and it is anticipated that revenue in H1 FY26 will be materially ahead of the prior year period. This growth was seen across the Group’s core business and across all key markets and channels.
Comment: It would appear that there is some traction in the market, and indeed, consumer cash to be had in terms of discretionary spend on frivolous items. This implied that perhaps Rachel Reeves and friends have not completely taxed the population to death, even though it may be those on benefits who are driving TBTG’s bottom line.
Afentra plc (AET), an upstream oil and gas company focused on acquiring production and
