Dog Days Of Summer Or Not
It should normally be the case, and it normally is, that the second half of August in the markets is as quiet as Christmas. But not this year. The surge in precious metals, and the revival in cryptos has meant that things are quite lively. This has even trickled down to the small cap area, with companies like Ajax Resources (AQSE:AJAX)
and London BTC (BTC). The latter is in favour as it has a mix of both gold and bitcoin. On this basis it should recover more than most.
As luck would have it, I have interviewed both companies of late, and expect a decent re-rate should the latest mostly Trump inspired commodities boom continue. It was also good to see shares of recent interviewee Halo Minerals (HALO) firm up, as the mega copper tailings play enjoyed the improved sentiment towards it and its peers.
As far as the wider small cap picture was concerned GCM Resources (GCM) has gone up and stayed up (3x) in the wake of the company having a Man From Del Monte moment. In this case it was the Man From Bangladesh, a Minister of Finance, who one can be sure will be on the Christmas card list from the company’s shareholders for the rest of his life.
For Sabien Technology (SNT) the shares went up 36% on the week off the back of the energy technology group scrapping financing plans. Indeed, despite the RNS trying to pour cold water on the company, the stock remained firm as the market hopes that the alternative to previous plans will be better than what was originally proposed.
The smart money on X has been backing Andrada (ATM) for quite some time, hoping it would live up to the promise of its ticker code. Now in August 2026, after a rather long gestation period the shares are finally on their way for the tin producer with a portfolio of critical metals mining and exploration assets in Namibia. This week ATM said it has executed definitive agreements for loan facilities totalling c. £4.4 million. The Loan Facilities complete UTMC’s funding requirements for the planned operational upgrades at the Uis Mine and enable the Company to progress the ore-sorting expansion into execution. The shares were up by a quarter on the week.
I said some days ago on a charting basis that shares of Cadence (KDNC) were perhaps due a rally, something which has clearly been helped along by rising commodities prices subsequently. The shares put on 29% this week, with perhaps Wednesday’s GM being a focus for some traders. Last we heard from the company earlier this month was the way that refurbishment of the Azteca processing plant at the Amapá Iron Ore Project has progressed from 77% to 87% weighted physical completion since the Company’s announcement of 27 July 2026. The programme continues to target operational readiness by the end of August 2026. Commercial operations and shipments remain subject to successful commissioning and receipt of the Operating Licence. So sounding good.
Interesting goings on at Gledhow Investments plc (AQUIS: GDH), a point underlined by the 40% share price rise at the end of the week. The company announced a series of transactions which it said, on completion, will materially strengthen the Company’s balance sheet and mark an important step in its strategic development. This included a £400,000 subscription, and the proposed board appointments of our old friends Sam Quinn and Cameron Pearce as non-executive directors.
Obviously, gold going through the roof has been great for Thor Explorations (THX). In addition, this week the company was trading in the week of Monday’s investor session from the West African gold explorer and producer. Segun Lawson, President and CEO, discussed the announced Q2 and H1 2026 Financial and Operating Results. In following days we have seen the share price push through the 200 day moving average at 70p. Even better both the 50 and 200 day moving averages are now both rising on the daily chart, suggesting we shall see a golden cross next month. The run up to a golden cross is typically the strongest part of the cycle. On this basis April resistance at 82p seems to be the minimum we can expect on the upside in the next few weeks, especially while we stay on the right side of 70p.
Finally, the market is not perhaps entirely awash with people who believe the Wildcat (WCAT) gold story. However, it may be that with a minimal £2m market cap, the shares have already more than factored in such cynicism. At least there was more credibility added to the would be El Dorado friendly group with the appointment at the end of the week of a new executive director with form in the gold processing plant space. The company said, “With gold prices back on the rise and heading back to their all-time highs, the Company is determined to get its initial gold processing plant operational ASAP. To this end Dr Diallo’s input will be crucial to achieving this objective”.
