RNS Hotlist September 7: KEFI, Medpal, Prospex, Serval, United Oil & Gas
The Times: Mounting costs are damaging business investment and undermining the government’s attempts to raise living standards, the Confederation of British Industry has warned. Ahead of John Healey’s first major economic speech this morning and the budget next month, the business lobby group urged the chancellor to acknowledge the pressure companies were under and called on the government to prioritise cutting business costs. Rain Newton-Smith, chief executive of the CBI, said Andy Burnham was right to put the cost of living at the heart of his government but warned that “business costs are kitchen-table costs too”. The organisation called for reforms to be introduced in the budget to ease the most significant pressures from employment costs, energy bills and business rates.
Comment: Just a couple of issues with the CBI warning. The first is that no one cares about what the CBI thinks, and has not done for years. The second is that Labour is tied to the mast of bankrupting the country to kill entrepreneurs who would never vote for it, and to pay for people to vote for it in return for welfare.
MedPal AI plc (MPAL), the AI-native digital health and pharmacy group, provided a trading update for August 2026, the first full month of trading for New Health (new.co.uk), the Group’s dedicated GLP-1 weight management clinic, following the start of its marketing in July. From zero to £28 million annualised in ten months. New Health August revenue up over 800 per cent month on month to £1.8 million. 10p by the end of the autumn on sustain 6p plus price action seems doable.
Comment: My 60th birthday present to myself is a dose of Mounjaro from New Health, which will arrive on Wednesday. This underlines how well MPAL is doing currently, and how in the wake of the eagerly awaited August trading update the shares have hit the end of September technical target at 6p rather earlier than expected.
Prospex Energy plc (PXEN), the AIM-quoted investment company focused on European gas and power projects, provides an operational update which demonstrates strong progress being made across all of the Company’s operations in line with management expectations supported by a highly favourable macro-economic background for energy pricing in Europe.
Comment: Another RNS for a stock which has hit its technical target ahead of time. In the case of PXEN we were looking for a 5.25p target by the end of September, and it has been hit today. In fact, the more the good calls are ignored, the more inspired I have to keep proving that the charting (on many occasions) works. All of this without the grandstanding that others love to serve up. PXEN has been an undeserved underperformer and one is always happy for shareholders when a re-rate arrives.
KEFI (KEFI), the gold and copper exploration and development company focussed on the Arabian-Nubian Shield, with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, announced an update in relation to activities at the Company’s Tulu Kapi Gold Project in Ethiopia. On Friday 4 September 2026, the Project experienced a serious security incident resulting in multiple fatalities involving security personnel and community members, including one Company employee. The Company is deeply saddened by the loss of life and extends its sincere condolences to all those affected.
Comment: A sad and unfortunate update from KEFI, that probably did not deserve or merit the kneejerk share price mark down that it has received. This is especially until the lay of the land becomes clearer. Hopefully, this will not trigger the type of crackpot commentary and name calling the company typically has received over the years for no real reason.
Serval Resources Plc (SRVL), a company focused on building an independent copper and future metals developer, announce that the Department of Mines in Botswana has renewed the following exploration prospecting licences, which are now valid until 30 September 2028. SRVL said “Licence compliance and renewal is a key part of operating as an exploration company and I would like to thank our team and the Department of Mines in Botswana for their hard work and cooperation in delivering these renewals. I am now proud to say that all the licences in our portfolio in Botswana have been renewed, demonstrating our team’s commitment to operating in line with our regulatory commitments. Of particular note is that we have renewed priority licence PL 2474, which forms part of the Sweet Thorn Pan prospect alongside PL 0235 This licence has been shown from historical work to have the known mineralised contact that is being mined by the nearby MMG Khoemacau operations, and this renewal has ensured that we maintain all of the originally identified prospective areas.”
Comment: Shares of SRVL were in a rather strange holding pattern for the longest time, presumably on the basis that those in the know where waiting on the type of news we have received today. Ideally, this means that there is a process of catching up for the stock, along with lesser peers who have mostly done rather well so far in 2026.
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 the appointment of Donal Meehan as Chief Operating Officer (non-board appointment) effective immediately. Donal previously served as United’s Head of Commercial and brings over 20 years of upstream oil and gas experience across senior reservoir engineering, commercial and leadership positions. He began his career at ExxonMobil before joining Providence Resources plc, gaining extensive international experience across the full upstream lifecycle, from onshore production operations to deepwater frontier exploration.
Comment: People have grown old and died waiting for UOG to get over the line, whatever line that has been at different times over nearly the past decade. Hopefully, today’s news means that we are getting closer to a denouement, and although I have grown old waiting, I may yet live to see it.
