Kendrick Resources (KEN) reported strong new drilling and pXRF sampling results from the Teufelskuppe (“TK”) rare earth project in Namibia, where the Company holds a 70% earn-in interest through its agreement with Bonya Exploration Pty Namibia. The latest results further strengthen TK’s drive towards a potentially significant, high-grade rare earth development opportunity.
Comment: KEN is the stock of the year in share price performance terms and otherwise in terms of its REE strategy. Of course, when I interviewed Colin Bird in January when the shares were under 0.5p I knew that KEN would be a winner, and that the credit would go to me, as well as Colin. Above 8p the technical target is 12p. I have also been told that there is still as much as a 10x upside from current levels. For some reason, I cannot quite remember the source.
Supersearch Plus Plc (AQSE: SSP), the Hong Kong based frozen seafood importer and wholesaler, announced the launch of its drone delivery services in Hong Kong for its freeze-dried seafood products through a third-party drone logistics provider. This milestone marks significant progress in the Company’s logistics capabilities and supports its ongoing efforts to improve customer service.
Comment: Some years back there was a fashion on the London market to list Chinese company, whether or not there was that much under the bonnet. Or indeed, anything under the bonnet. However, it would seem that a company delivering freeze-dried seafood by drone has been compelling enough and believable enough to get listed on Aquis. Anyone remember Call My Bluff?
Metals One (MET1), a critical and precious metals project developer and investor, announced it has signed an agreement with DISA Technologies Inc. (“DISA”) to seek to evaluate and, if successful, treat historically abandoned uranium mine waste dumps and recover saleable uranium and other critical mineral concentrates at Metals One’s 100%-owned Uravan Belt Uranium-Vanadium Project in Colorado.
Comment: Given that shares of MET1 peaked over 50p last year, where they are now at under 2p seemed rather mean, given that we are looking at a highly acquisitive and active company. One would suggest that today’s share price rebound could have legs.
East Star Resources Plc (EST), the Kazakhstan-focused gold and copper explorer, announced the launch of its interactive Investor Hub. For both existing and prospective shareholders, the new investor hub brings all of East Star’s content into a single integrated platform to better inform and engage with investors and stakeholders.
Comment: The new fashion for Investor Hubs seems a strange one, apart from those who outsource the process and get the retainer. I have not been convinced that websites, whether interactive or otherwise really cut the mustard 25 years on from the dotcom boom. Of course, if EST shares now rocket one would stand corrected.
Ajax [AQUIS: AJAX], the natural resources investment company, provided an update on the proposed acquisition of the Paguanta Project in Chile, which was initially announced on 19 January 2026, from Asara Resources Ltd, an ASX-listed company. Ajax and the Vendor have agreed to extend Ajax’s exclusivity period in relation to the Acquisition until 14 August 2026, with both parties continuing to work towards completion during this period.
Comment: Slowly, slowly catchy monkey appears to be the situation as far as the Paguanta project and Ajax. Nevertheless, the pace of deal making here and the quality in terms of buying high value / low cost assets means that few will be complaining about the wait till August.
Zanaga Iron Ore Company Limited (ZIOC) announced that, following the announcement made yesterday regarding the launch of the proposed Capital Raising and associated Retail Offer, it has successfully raised an aggregate of £5.6 million (approximately US$7.6 million) at an issue price of 4p pursuant to the Placing and Subscription. Due to strong institutional investor demand, the Company has agreed with the Joint Bookrunners to increase the size of the Capital Raising from the approximately US$5.6million originally proposed. Additional proceeds from the Upsize will be used to provide additional working capital headroom and further ability to accelerate various workstreams in relation to the Zanaga Project.
Comment: ZIOC has traditionally traded in the 5p – 10p range that one could set one’s watch by. Today’s fundraise breaks this range to the downside, so we really need to see the company deliver, strong investor demand or not. It could be said by some that the company has already had enough time and money to deliver rather more for shareholders.
The Smarter Web Company (SWC) announced the purchase of additional Bitcoin as part of “The 10 Year Plan” which includes an ongoing treasury policy of acquiring Bitcoin. Details are as follows: Number of Bitcoin Purchased: 10 Bitcoin. Average Purchase Price: £58,891 per Bitcoin ($79,662 per Bitcoin). Amount Purchased: £588,911. Total Bitcoin Holdings: 2,840 Bitcoin. Total Average Purchase Price: £81,275 per Bitcoin ($109,941 per Bitcoin). Total Amount Purchased: £230,820,850.
Comment: Although most people regard Albert Einstein as being one of the cleverest people who ever lived, even he did not apparently get everything right. In the case of SWC it has proved that Einstein’s definition of madness with regard to buying Bitcoin again and again is working. Who’d have thought?
Forgent plc (FORG), the technology-led energy transition company, announced that it has entered into a full and final settlement in relation to the litigation, most recently announced on 12 March 2026 thereby successfully resolving a legacy legal dispute.
Comment: It is interesting that for listed companies any litigation they are facing has to be announced to the market, something which makes them a clay pigeon for claims, whether serious or not. Indeed, especially in terms of raising money, this kind of eventuality can be kryptonite. Therefore, it must be a relief that FORG has settled on the matter it was subject to.
Blackbird plc (BIRD), the developer of the browser-based collaborative video editor elevate.io, the technology licensor and the developer and seller of market-leading cloud native video editing platform, Blackbird, today announced an update on elevate.io and the company’s AGM. BIRD said “As the end of the Product Market Fit phase for elevate.io nears, the Company has now moved to a more strategic Go to Market (“GTM”) approach. The GTM approach encompasses the Company’s learnings from the PMF phase, where seeding at targeted events, social content and user data has informed the team of how the elevate.io proposition is landing with, and solving problems for, users. Additionally, through working with a fractional multi-disciplined experienced marketing team, the GTM approach now being deployed by the Company incorporates both brand positioning and clear routes to market.”
Comment: I have switched from Videopad to browser based VEED.io in the time that BIRD has been launching elevate. Today’s update suggests that progress in what is a cut throat area has not been as explosive as it could have been. Perhaps the company should have spent more time showcasing the product with me, given that every day I produce a charting video and would have been happy to help in terms of my audience.
Serval Resources Plc (SRVL), a company focused on building an independent copper and future metals developer, announced the results of its first geophysics programmes completed on Licence PL082/2020 (“PL082”) and PL231/2018 (“PL231”) in the Kalahari Copper Belt (“KCB”), Botswana. SRVL said “I am very pleased with the speed at which our team has completed these first geophysical programmes in the KCB, in accordance with the work requirements of our licences, and analysed the results. This limited amount of work has provided the Company with valuable information about the exploration methodology required for exploration success in the KCB, and possible targets on these two licence areas. The Company will utilise the funds raised as part of the recent listing on AIM to move forward with the exploration programmes in order to generate drill ready targets in due course.”
Comment: Right out of the gate SRVL has looked to be a decent prospect in the explorer / developer space, something which has to date not been appreciated as much as it should. This is especially the case given the merit of the management, and the shareholder register which appears to be populated by the great and the good. That said, the shares are up nearly 50% so far this year, and 40p by the end of the summer seems achievable.
Valereum Plc (AQSE: VLRM), a company aiming to become the global market leader in the rapidly developing tokenised digital markets sector, announced it has raised £1,050,000 million before expenses through a placing and subscription of new Ordinary Shares. The net proceeds of the raise will be used to fund the scale-up of VLRM Markets by accelerating the conversion of its growing pipeline of issuers, and expanding distribution reach through strategic partnerships and collaborations.
Comment: Given that there have been several twists and turns regarding the strategy of VLRM over recent years, it is to be hoped that this time the flagship VLRM Markets will be the initiative that finally gets the company over the line. Interestingly, even though the shares are down 82% YTD, the company still had a market cap of over £15m, so there is some wiggle room.
ValiRx Plc (VAL), an innovative life sciences company focusing on early-stage cancer therapeutics and women’s health, with a pipeline of assets including CLX001 and VAL201, announced a fundraising to raise up to £1,155,000 (before expenses) comprising a firm placing at a price of 0.2p.
Comment: A couple of days ago it was tweeted that VAL and various other biotech companies of the minnow variety we looking good at the moment. While it may be a coincidence that there has been a fundraise delivered today, one hopes that some traders did not take the bait of buying earlier this week. Hopefully, with the latest cash the company will finally deliver.
Predator Oil & Gas Holdings Plc (PRD), the Jersey based Oil and Gas Company with producing hydrocarbon operations focussed on Trinidad and Morocco, announced that it has conditionally placed 85,714,286 million new ordinary shares of no par value in the Company at a placing price of 3.5 pence each to raise £3 million. The Proceeds of the Placing, less expenses, will be spent on:
- Deepening the proposed Snowcap-3 (“SC-3”) well by 150 feet and adding an additional testing programme for the Herrera #8 Sand, based on a revised reservoir correlation between Snowcap-1 and Rochard-1.
- Reactivation of the Snowcap-2ST1 and Jacobin-1 wells and acquire information for a gas re-injection reservoir engineering study for Snowcap-1 and Snowcap-2ST1 to assess the potential to maintain higher production rates for longer.
- Purchase Guercif MOU-6 long-lead well inventory to maintain the current drilling schedule given the impact on logistics of the Middle East conflict.
Comment: I have to say that I was looking at the chart of PRD a couple of days ago, thinking that the shares would be very well positioned on the upside, if it were not for its habit of raising cash, after say that the last fundraise was the last. Presumably this is the last fundraise until the next one too.
Physiomics plc (PYC), a leading mathematical modelling, data science and biostatistics company supporting the development of new therapeutics and personalised medicine solutions, announced that Peter Sargent has agreed to extend his existing agreement with the Company and remain in his current role throughout June 2026. PYC said “In the short time we have worked with Pete, he has diligently overseen the operations of Physiomics and, in particular, has handled the management transition of the business with evident skill and sensitivity. Pete has been a considerable support to the new Board and we are delighted that he is willing to continue in his role for the time being whilst we develop plans for growth and expansion of the Company.”
Comment: It is to be commended that Peter Sargent has agreed to engage with the new board of directors, something which I am not sure many would do. However, he clearly has the interest of shareholders at heart, and in extending his stay should ensure they are best positioned with the company’s new strategy.
FRP Advisory Group (FRP), a leading national specialist business advisory firm, announces a trading update for the year ending 30 April 2026. The Group expects to report FY 2026 revenues of at least £176m which is up 16% on the prior year (FY 2025: £152.2m), and adjusted underlying EBITDA of at least £45m, up 9% on the prior year (FY 2025: £41.3m). These results are at least in line with market consensus*. FRP’s strong performance reflects the breadth and resilience of the Group in a year that had periods of decision inertia for UK corporates due to uncertainty, including US Tariff changes at the start of the year and speculation ahead of the delayed Autumn 2025 budget.
Comment: Hands up anyone who has previously heard of FRP? I thought so. This is even though the company has a nearly £300m market cap, and with its prospective double digit revenue growth should be on the map soon, today’s inclusion in the RNS Hotlist notwithstanding.
Bluebird Mining Ventures Ltd (BMV), the gold streaming, mining and treasury company, provided the following update regarding the continued execution of its streaming and treasury strategy, including operational progress across its streaming activities, treasury accumulation, and deployment of mining infrastructure. The Company continues to build its operating streaming business across Bitcoin and precious-metals-related cash flow opportunities. During April 2026, the Company generated its first revenues in its history through its developing streaming and digital asset activities, representing an important milestone in BMV’s strategic transition toward cash-generative operating assets and treasury accumulation.
Comment: The main reason for covering BMV is all the personal and negative comment the company has endured in recent months, something which is totally inappropriate and designed to make the company fail. It is the kind of mud slinging approach delivered with only vindictive / malicious intent, something which someone who has endured this themselves is fully aware of. It is a blot on the City, a deterrent as far as listing on the public markets, and simply not acceptable.
Prospex Energy PLC (PXEN), the AIM quoted investment company focused on European natural gas and power projects, provides the following Q1 overview and unaudited quarterly cash-flow updated for the Prospex group of companies, including group cash balances under the Company’s direct control, net results of financing activities, additions to investments and receipts from gas sales for the first quarter of 2026. PXEN said “I am pleased to provide shareholders with an overview of Q1 2026 activities, including unaudited group cash-flow for the period, as part of the Company’s ongoing commitment to transparency. Q1 2026 was a period of transition for the Company following my appointment as CEO, providing an opportunity to reassess priorities and re-evaluate our investment portfolio to ensure the Group is positioned for long-term growth.
Comment: PXEN is making all the right noises as far as being a new, turnaround situation, backed by the arrival of the new CEO. The fact that in the wake of Iran conflict which highlights how the EU remains caught with its trousers down in terms of energy security, suggests that this is a company to back anyway.
