ADVFN UK Market News

Author: Fiona Craig

  • Syncona Shares Rise 7.4% After Beacon Therapeutics Gene Therapy Trial Meets Primary Endpoint

    Syncona Shares Rise 7.4% After Beacon Therapeutics Gene Therapy Trial Meets Primary Endpoint

    Syncona (LSE:SYNC) shares rose 7.4% after its portfolio company Beacon Therapeutics announced that its pivotal Phase II/III VISTA trial of laru-zova, a gene therapy for X-linked retinitis pigmentosa (XLRP), met its primary endpoint with statistical significance at 12 months.

    The announcement was published through a Regulatory News Service filing and identified as containing inside information. Syncona described the results as an important development for Beacon, in which it holds a 38.4% ownership stake.

    The VISTA study evaluated 85 male patients aged between 12 and 48 across two dosing cohorts, assessing improvements in low-luminance visual acuity.

    The high-dose group achieved a responder rate of 31.0%, while the low-dose group recorded a responder rate of 24.1%. Both results were statistically significant against the trial’s primary endpoint, which had been endorsed by the US Food and Drug Administration (FDA).

    According to Beacon, VISTA is the first pivotal trial in XLRP to meet its primary endpoint.

    Following the results, Beacon plans to initiate pre-submission discussions with regulatory authorities internationally. The company intends to begin a rolling Biologics License Application (BLA) submission later in 2026.

    Additional clinical data are scheduled to be presented at the American Academy of Ophthalmology Annual Meeting on 10 October.

    Syncona’s 38.4% holding in Beacon was valued at £183.4 million as of 30 June 2026, before the announcement of the VISTA results.

    The clinical outcome represents a development for one of Syncona’s portfolio investments, although any subsequent change in its carrying value has not been quantified in the information provided.

    In market trading, Syncona shares advanced 7.4% and approached a 52-week high of 120.2 pence during the session. The stock’s 52-week low stood at 86.9 pence.

    The increase occurred during a session in which the broader UK equity market declined, with both the FTSE 100 and FTSE 250 finishing lower and financial stocks contributing to the losses.

    Syncona is a life sciences investment company with a portfolio that includes Beacon Therapeutics. The latest clinical results provide additional data on laru-zova as Beacon prepares for regulatory discussions and its planned BLA submission.

    The next scheduled developments include the presentation of further trial data in October and the initiation of the regulatory submission process later this year.

  • Anglo Asian Mining H1 Revenue Rises to $141.2 Million as Copper Production Reaches Record 8,840 Tonnes

    Anglo Asian Mining H1 Revenue Rises to $141.2 Million as Copper Production Reaches Record 8,840 Tonnes

    Anglo Asian Mining PLC (LSE:AAZ) reported revenue of $141.2 million for the six months ended 30 June 2026, compared with $40.9 million a year earlier, as copper production reached a record half-year level of 8,840 tonnes.

    The Azerbaijan-focused copper, gold and silver producer reported profit before tax of $68.5 million and operating cash flow of $78.5 million. Its net cash position increased to $57.7 million at the period-end.

    Following the results, the board declared an interim dividend of six US cents per share.

    The increase in revenue was supported by higher copper production, increased silver output and higher market metal prices. Copper has become the company’s principal product as it expands its production portfolio.

    During the first half, Anglo Asian continued ramping up operations at the Demirli mine, which is expected to reach steady-state production in the fourth quarter of 2026.

    The company also progressed production at Gilar and expanded its processing infrastructure at Gedabek.

    Infrastructure developments included the commissioning of nine new Imhoflot flotation cells, completion of a tailings dam raise at Gedabek and construction of a private haul road connecting Gilar with the processing facilities.

    The new road is intended to increase ore transportation capacity between the mine and processing plants.

    Anglo Asian maintained its full-year production guidance for copper and silver but reduced its gold output forecast following lower-than-expected recoveries from ore mined at Gilar.

    The company also lowered its all-in sustaining cost guidance for copper production, citing operational efficiencies and higher market metal prices. Revenue is currently running ahead of budget, according to management.

    Alongside its existing operations, Anglo Asian is advancing feasibility studies for the Xarxar and Garadag copper projects.

    The company appointed Worley Europe as a consultant for the studies, while internal technical work includes mineralogical assessments and pilot facilities for heap leaching and solvent extraction-electrowinning (SX/EW) processing.

    Anglo Asian is targeting production from Xarxar and Garadag in 2028 and 2029, respectively, as part of its broader development programme.

    Its strategy also includes the Zafar project, with the company planning to bring additional assets into production between 2027 and 2030.

    The group aims to become a multi-asset, mid-tier copper-focused producer by 2030, targeting annual copper production of approximately 50,000 to 55,000 tonnes.

    Exploration activities are continuing alongside the development programme, including drilling intended to support resource evaluation and future mine planning.

    In environmental and social management, Anglo Asian is implementing an integrated Environmental and Social Management System and introducing new environmental standards across the group.

    The company has received an initial Digbee ESG rating and has committed to adopting the Global Industry Standard on Tailings Management by the end of 2026.

    It also plans to develop a biodiversity management standard as part of its environmental management programme.

    Anglo Asian’s near-term operational priorities include completing the production ramp-up at Demirli, progressing feasibility work at Xarxar and Garadag, and implementing its revised production and cost guidance for the remainder of 2026.

  • Iofina H1 Revenue Rises 7% to $31.3 Million as Adjusted EBITDA More Than Doubles

    Iofina H1 Revenue Rises 7% to $31.3 Million as Adjusted EBITDA More Than Doubles

    Iofina plc (LSE:IOF) reported a 7% increase in revenue to a record $31.3 million for the first half of 2026, with adjusted EBITDA more than doubling to $6.6 million as iodine production increased and cost of sales declined.

    The iodine producer and specialty chemicals manufacturer reported an 8% reduction in cost of sales, contributing to a 62% increase in gross profit to $10.2 million.

    Operating profit rose 178% to $4.9 million, while the group reported a net cash position of $7.2 million at the period-end.

    Iofina produced 393.3 metric tonnes of crystalline iodine during the six months, representing a 29% increase year on year and exceeding its revised production target.

    The company said iodine prices remained firm during the period, while increased sales of crystalline iodine and iodine derivatives contributed to its financial performance.

    Capital expenditure totalled $5.8 million in the first half as Iofina continued investing in additional production capacity.

    The expansion programme includes IO#12, the company’s largest iodine extraction plant, located in the Permian Basin, alongside the development of IO#13 and IO#14 in central Oklahoma.

    Management is directing operating cash flow towards these projects as part of its strategy to increase iodine production.

    Iofina is targeting record annual iodine output in 2026 and continues to pursue its longer-term objective of reaching 2,000 metric tonnes of annual production capacity.

    The company currently operates eight IOsorb iodine extraction plants in Oklahoma and describes itself as the second-largest iodine producer in North America.

    Its operations use proprietary WET IOsorb technology to recover iodine from brine produced during oil and gas extraction in the United States.

    The group operates through Iofina Resources, which focuses on iodine extraction, and Iofina Chemical, which manufactures iodine derivatives and other specialty chemicals.

    Iofina’s immediate priorities include progressing construction of its additional extraction plants and increasing production as it works towards its annual output and longer-term capacity targets.

  • Craneware Reports FY26 Revenue of $206 Million and Revises FY27 Outlook Following Cyber Incident

    Craneware Reports FY26 Revenue of $206 Million and Revises FY27 Outlook Following Cyber Incident

    Craneware plc (LSE:CRW) reported broadly unchanged revenue of $206 million for the 2026 financial year, with adjusted EBITDA increasing 3%, as the healthcare software provider revised its revenue expectations for FY27 following a post-year-end cybersecurity incident and ongoing challenges in the US 340B market.

    Annual recurring revenue (ARR) remained stable at $185 million, supported by customer retention and recurring software subscriptions. The company also reported high operating cash conversion during the year.

    Craneware maintained its dividend and completed a $25 million share buyback during the period.

    The group continued developing its Trisus cloud platform, integrating its datasets and expanding the deployment of Trisus Assist, an artificial intelligence-powered tool designed to support financial analysis and decision-making across multiple product areas.

    Craneware also introduced Trisus OneLink – Medication, a product developed to address changes in the US 340B drug pricing programme and pharmacy reimbursement arrangements.

    The company expanded its relationship with Microsoft and secured additional contracts through the Azure Marketplace.

    Following the financial year-end, Craneware identified a cybersecurity incident. The company said the incident did not disrupt customer services or its core operations.

    An independent investigation subsequently confirmed that its systems were secure and fully operational, according to the company. Remediation activities and regulatory reporting remain ongoing.

    In response to the incident and current trading conditions, Craneware’s board has revised its FY27 revenue expectations to align with existing ARR levels of approximately $185 million.

    The revised outlook also reflects the continuing impact of conditions in the 340B market, which have constrained revenue.

    Management has initiated a comprehensive review of the group’s cost base, with the objective of maintaining adjusted EBITDA margins while supporting ongoing product development and commercial activities.

    Craneware expects conditions in the 340B market to become more supportive during the second half of FY27, potentially increasing demand for its software and services. However, the company has not included any anticipated improvement in its current forecasts.

    The group is targeting a return to revenue growth in FY28 and subsequent financial years, supported by its existing customer relationships, recurring revenue base and recently introduced products.

    Craneware provides financial performance and operational software to healthcare organisations in the United States. Its Trisus platform combines healthcare data, revenue management, margin analysis and other financial tools.

    The company’s product portfolio includes software and services addressing hospital reimbursement, charge capture, pharmacy operations and the 340B drug pricing programme.

    Its immediate priorities include completing the remaining cybersecurity remediation and reporting work, reviewing operating costs and implementing its revised FY27 financial plan.

  • Getech H1 Revenue Rises 15% to £2.4 Million as Order Book Reaches £4.7 Million in August

    Getech H1 Revenue Rises 15% to £2.4 Million as Order Book Reaches £4.7 Million in August

    Getech Group plc (LSE:GTC) reported a 15% increase in revenue to £2.4 million for the first half of 2026, alongside adjusted EBITDA profit of £0.2 million and operating cash generation of £0.9 million.

    The geoscience and geospatial analytics company attributed its financial performance to a reduced cost base and growth in annualised recurring revenue.

    Getech’s contractually committed order book stood at £4.0 million at the end of the reporting period and subsequently increased to £4.7 million by August 2026.

    The company continued developing its software portfolio during the period, including the release of Globe 2026.1 and Exploration Analyst 3.2, while reporting increased demand for its geoscience and spatial analytics services.

    Getech secured a three-year renewal of its Globe software agreement with a state-backed offshore energy producer in Asia.

    Following the period-end, the company also signed a new multi-year Globe contract with a European oil and gas supermajor.

    According to Getech, the latest agreement means five of the six global oil and gas supermajors now use its Globe platform.

    The company also joined a European Commission-led consortium undertaking the first Europe-wide assessment of natural hydrogen resources.

    Getech’s participation in the programme is expected to be worth approximately €1 million across the 2026 and 2027 financial years.

    The project extends the company’s activities in natural hydrogen alongside its existing work in conventional oil and gas exploration and other resource sectors.

    Getech provides subsurface and geospatial data, software and analytical services to companies, governments and regulatory organisations involved in natural resource exploration and development.

    Its activities cover oil and gas, critical minerals, geothermal energy and natural hydrogen, using proprietary geological datasets and geospatial analysis to support resource identification and evaluation.

    The company has been focusing its operations on core markets while expanding recurring software subscription revenue and data-driven services.

    The increase in its order book, recent Globe contracts and participation in the European natural hydrogen programme represent the latest developments in its commercial pipeline.

  • Invinity Energy Systems H1 Orders Rise to 34.2 MWh as Revenue and Grant Income Reach £1.7 Million

    Invinity Energy Systems H1 Orders Rise to 34.2 MWh as Revenue and Grant Income Reach £1.7 Million

    Invinity Energy Systems (LSE:IES) reported customer orders of 34.2 MWh for the six months ended 30 June 2026, nearly three times the previous level, as revenue and project grant income increased to £1.7 million.

    The vanadium flow battery manufacturer said gross losses narrowed during the period, reflecting improved product margins and increased factory utilisation. However, the group remained loss-making as it continued investing in manufacturing expansion and cost reduction.

    During the first half, Invinity delivered what it described as Europe’s largest vanadium flow battery to the Copwood energy hub in the United Kingdom.

    The company also advanced a battery storage project in Switzerland with FlexBase and reported that a UK long-duration energy storage scheme had selected a project expected to deploy up to 260 MWh of Invinity batteries.

    Following the period-end, Invinity secured a 43 MWh order from Dairyland Power Cooperative, representing its largest contract to date.

    The batteries for the Dairyland project are expected to be supplied from a planned manufacturing facility in the United States.

    The new contract increased Invinity’s secured orders for 2026 to 77.2 MWh, supporting its expansion into the North American energy storage market.

    Management said trading remains in line with expectations, with revenue anticipated to be weighted towards the second half of the year.

    The company reported a combined commercial pipeline of 12.5 GWh. Alongside existing framework agreements and development projects, Invinity said these opportunities provide potential revenue visibility through 2028.

    The pipeline represents prospective business and is distinct from the company’s secured orders.

    Invinity continues to invest in manufacturing capacity, operational efficiency and cost reduction as it works to increase production volumes and improve product economics.

    The company is also implementing changes to its board. Volker Beckers has joined as a non-executive director, while chairman Neil O’Brien intends to retire once a successor has been appointed.

    Chief executive Jonathan Marren said the company is moving towards larger-scale commercial operations as it expands production and pursues additional contracts.

    Invinity manufactures vanadium flow batteries designed for long-duration energy storage applications, including renewable energy integration, grid infrastructure and data centres.

    Its Endurium battery systems are intended for applications requiring repeated charging and discharging over extended operating periods.

    The company currently has manufacturing operations in the UK and Canada and is planning additional production capacity in the United States.

    Invinity’s near-term priorities include fulfilling its contracted orders, progressing manufacturing expansion and converting further opportunities from its commercial pipeline into binding agreements.

  • Blencowe Resources Appoints Interim CEO as It Seeks US$45 Million for Orom-Cross Graphite Project

    Blencowe Resources Appoints Interim CEO as It Seeks US$45 Million for Orom-Cross Graphite Project

    Blencowe Resources Plc (LSE:BRES) has appointed Chief Operating Officer Iain Wearing as interim chief executive officer as the company progresses financing and commercial arrangements for its Orom-Cross graphite project in Uganda.

    Wearing has more than 40 years of experience in mining operations and project development and has made a personal investment in Blencowe. The board is continuing its search for a permanent chief executive.

    The company is prioritising approximately US$45 million in project-level financing for the first phase of Orom-Cross, alongside efforts to convert non-binding offtake arrangements and ongoing product qualification activities into binding commercial agreements.

    Blencowe is also working through the remaining implementation requirements ahead of potential construction.

    The company said its cash position was supported by a £3 million fundraising completed in late 2025. Management considers existing funds sufficient to cover corporate overheads, product qualification programmes and financing activities.

    An updated definitive feasibility study for Orom-Cross estimated a post-tax net present value, discounted at 10%, of US$1.254 billion and an internal rate of return of 51%, based on an initial mine life of 15 years.

    The project has a mineral resource of 64.3 million tonnes and an ore reserve of 23.08 million tonnes.

    According to Blencowe, independent engineering and geological consultants have validated the project’s technical foundations. The company is using the feasibility study and supporting technical work in discussions with potential strategic, institutional and development-finance investors.

    Alongside financing activities, Blencowe is progressing product qualification programmes covering several potential markets for Orom-Cross graphite.

    These include high-purity graphite processing in Europe and the United States, participation in EU-funded battery initiatives, and testing for supercapacitors, defence batteries, anti-radar applications, electromagnetic interference shielding and hypersonic aerospace uses.

    The company said the programmes are providing technical information on the performance of its graphite products and supporting discussions with prospective customers. However, the qualification activities have not yet resulted in binding orders.

    Blencowe is also continuing discussions with the Ugandan government regarding project development and potential support arrangements.

    A recent meeting with President Yoweri Museveni covered the development of Orom-Cross, opportunities for local processing and value addition, and possible financing or government support mechanisms.

    Blencowe owns 100% of the Orom-Cross project and intends to develop graphite production and processing capabilities in Uganda, targeting battery materials and specialist industrial applications.

    The company’s immediate priorities remain securing Phase 1 financing, completing commercial offtake agreements and advancing the implementation work required before construction can begin.

  • Arc Minerals Narrows H1 Loss to £1.74 Million Following £2.88 Million Equity Raise

    Arc Minerals Narrows H1 Loss to £1.74 Million Following £2.88 Million Equity Raise

    Arc Minerals (LSE:ARCM) reported a reduced loss from continuing operations of £1.74 million for the six months ended 30 June 2026, compared with £2.28 million in the corresponding period of 2025, according to its unaudited interim results.

    The exploration company reduced administrative expenses by more than half during the period, while its basic loss per share narrowed to 0.10 pence from 0.16 pence a year earlier.

    Arc also reported an increase in net assets to £4.96 million at 30 June 2026, compared with £2.56 million at the end of December 2025.

    The change in the group’s financial position followed a £2.88 million equity fundraising, which provided additional capital for its ongoing activities.

    Cash balances increased to £1.86 million at the half-year end, while trade payables declined during the period.

    Intangible assets rose to £2.60 million, reflecting continued investment in the company’s exploration portfolio.

    Arc remains a pre-revenue exploration business, with its activities focused on identifying and developing copper deposits in Africa. The company does not currently generate production revenue, and its operations are supported by external financing.

    Its exploration strategy is centred on identifying large-scale copper deposits and advancing projects through resource evaluation and development.

    The interim results reflect lower operating losses, reduced administrative expenditure and an increase in cash and net assets following the equity fundraising.

    The company’s subsequent activities will continue to focus on progressing its African copper exploration portfolio.

  • Predator Oil & Gas Begins MOU-6 Drilling in Morocco, Targets 20-Day Programme

    Predator Oil & Gas Begins MOU-6 Drilling in Morocco, Targets 20-Day Programme

    Predator Oil & Gas Holdings Plc (LSE:PRD) has commenced drilling operations at its MOU-6 well in Morocco, with the programme beginning on 19 September 2026 and expected to take up to 20 days to complete.

    The well forms part of the company’s onshore Moroccan exploration portfolio and is targeting potential gas resources within geological structures previously penetrated by the MOU-1 and MOU-3 wells.

    Predator considers these structures prospective for hydrocarbons and is undertaking the MOU-6 drilling programme to further evaluate their gas potential.

    The company is pursuing a strategy of developing Moroccan gas resources for potential commercialisation through compressed natural gas (CNG) or micro-liquefied natural gas (micro-LNG) facilities.

    Its proposed development approach takes into account local gas pricing and the availability of nearby export infrastructure, although commercial development will depend on the results of exploration and subsequent evaluation.

    The MOU-6 programme represents the latest drilling activity within Predator’s Moroccan portfolio. The company has not yet reported results from the well, and its gas potential remains subject to confirmation through drilling.

    Alongside its Moroccan exploration activities, Predator maintains interests in onshore oil operations in Trinidad, including production, appraisal and infill drilling opportunities.

    The company operates under a Master Services Agreement with NABI Construction in Trinidad and has access to legacy tax losses that may affect its effective Petroleum Profit Tax obligations.

    Predator’s portfolio combines Moroccan gas exploration with Trinidadian oil activities, with the company pursuing development opportunities across both markets.

    The immediate focus in Morocco is the completion of MOU-6 drilling and the assessment of its results, which will inform subsequent exploration and potential gas development activities.

  • Eco Buildings Signs Binding Gambian Agreement Covering Minimum 10,000-Home Programme

    Eco Buildings Signs Binding Gambian Agreement Covering Minimum 10,000-Home Programme

    Eco Buildings Group Plc (LSE:ECOB) has signed a binding Strategic Investment Framework Agreement with the Government of The Gambia and Lumen Holdings to establish a manufacturing and housing development platform in the country, covering a minimum programme of 10,000 homes.

    The agreement provides for an initial order of at least 1,000 housing units and the establishment of Eco Buildings’ West African headquarters and an AI-powered Centre of Excellence in The Gambia.

    Under the framework, a new entity, Eco Buildings Gambia Limited, will serve as the exclusive implementation, manufacturing and technology-transfer platform for the proposed national housing and industrialisation programme.

    The Government of The Gambia will provide support relating to land allocation, permitting, infrastructure and regulatory coordination.

    The initiative includes plans for an AI-enabled manufacturing facility, a training academy and a regional export hub intended to serve markets within the Economic Community of West African States (ECOWAS).

    Eco Buildings said the agreement is structured as a long-term industrial development programme rather than a standalone housing supply contract. It combines residential construction with local manufacturing, workforce training and technology transfer.

    The company expects the proposed facilities to support housing production in The Gambia while providing manufacturing capacity for potential exports to other West African markets.

    The framework remains subject to the completion of definitive financing and implementation agreements. Eco Buildings anticipates that the programme could generate recurring annual revenue once these arrangements are finalised and operations are established.

    The company also intends to use the Gambian initiative as a model for potential agreements with other national governments, although no additional agreements were announced in the update.

    According to Gambian ministers, the partnership is aligned with the government’s objectives for industrialisation, employment, skills development and economic security.

    Eco Buildings’ board described the agreement as part of its strategy to expand from construction materials manufacturing into technology-based housing production and associated industrial development.

    The company specialises in glass-fibre-reinforced gypsum (GFRG) construction systems and aims to establish local manufacturing facilities in markets where it secures housing contracts.

    Its proposed operating model combines standardised factory production with digital engineering, artificial intelligence, workforce training and technology transfer.

    Eco Buildings intends to retain ownership of its patents, software and AI systems while deploying its manufacturing technology across different jurisdictions.

    The Gambian agreement establishes the framework for the proposed housing and manufacturing programme, with financing and detailed implementation arrangements still to be completed before the project proceeds.