Author: Fiona Craig

KEFI Gold and Copper PLC (LSE:KEFI) has provided an update on its Tulu Kapi Gold Project in Ethiopia, outlining a $340 million capital budget and a $240 million debt facility. Full-scale development is scheduled to begin in October 2025, with extensive preparations underway, including community resettlement and infrastructure development. The project is expected to strengthen KEFI’s position in the gold mining sector and support the growth of Ethiopia’s gold industry.

About KEFI Gold and Copper PLC

KEFI Gold and Copper PLC is an exploration and development company focused on gold and copper projects within the Arabian-Nubian Shield, operating primarily in Ethiopia and Saudi Arabia.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Everplay Group plc (LSE:EVPL) released its half-year 2025 results, showing a 10% decline in revenue year-on-year, primarily due to the timing of license income and new game launches. Despite this, the company achieved a notable improvement in gross profit margins and maintained stable adjusted EBITDA. Following its rebranding from Team17, Everplay continues to expand its portfolio with new game releases and strategic acquisitions of IP and back-catalog publishing rights. The company expects a strong second half, with multiple game launches anticipated, and full-year adjusted EBITDA projected to slightly exceed market expectations.

The outlook reflects solid financial performance and positive corporate developments. Technical indicators suggest bullish momentum, while moderate valuation levels are supported by the company’s strategic growth initiatives and healthy financial position.

About Everplay Group

Everplay Group plc, formerly Team17 Group plc, is an independent global developer and publisher of premium video games, simulation titles, and children’s educational apps. The company focuses on delivering innovative and engaging content across multiple platforms in the gaming and apps industry.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Michelmersh Brick Holdings PLC (LSE:MBH) reported a resilient performance for the first half of 2025, with revenue slightly higher despite challenging market conditions, particularly in Belgium. Profitability was affected by a temporary shutdown at the Carlton site and broader European market pressures. In contrast, the UK market saw strong dispatch volumes, and the company maintained a solid balance sheet with a net cash position of £1.5 million. Leadership changes include Ryan Mahoney stepping in as CEO and Rachel Warren joining as CFO, reflecting a focus on strategic management and operational stability. The company remains optimistic about the future, emphasizing a balanced order book and effective pricing strategies.

Michelmersh demonstrates financial resilience and proactive corporate actions, such as share buybacks and the new CFO appointment, enhancing its market positioning. Technical indicators show some bearish momentum, suggesting short-term risks, while valuation and an attractive dividend yield present a balanced investment outlook.

About Michelmersh Brick Holdings

Michelmersh Brick Holdings PLC is a UK-based manufacturer of premium bricks, pavers, specially shaped bricks, bespoke Terra Cotta products, and prefabricated brick components. The company operates through seven leading brands and includes New Acres Limited, a landfill operator. Established in 1997, Michelmersh has grown through acquisitions and organic expansion, producing over 120 million clay bricks and pavers annually. The company is committed to sustainability and enhancing the architectural landscape with its high-quality products.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Alumasc Group PLC (LSE:ALU) reported a 13% rise in revenue to £113.4 million for the year ended 30 June 2025, including 7% organic growth. The company’s emphasis on sustainability-driven innovation and expanded export activity supported this performance, even amid challenging market conditions. All three divisions delivered record results, with particularly strong contributions from the Building Envelope and Housebuilding Products segments. The Water Management division also recorded notable export growth, including a major project in Hong Kong. Alumasc’s strategic focus on sustainable products and operational efficiency positions the company for continued growth, targeting medium-term operating margins of 15–20%. Legislative initiatives and government infrastructure investments are expected to further support future opportunities.

The company’s outlook benefits from strong financial performance and positive corporate developments, while technical indicators present mixed signals. Valuation considerations, including an unusual dividend yield, slightly temper the overall assessment.

About Alumasc

Alumasc is a UK-based supplier of premium sustainable building products, systems, and solutions. The company operates through three core divisions: Water Management, Building Envelope, and Housebuilding Products, with a significant portion of revenue driven by compliance with building regulations and specifications.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Journeo plc (LSE:JNEO) has completed the acquisition of Crime and Fire Defence Systems Limited (CFDS) for approximately £10.7 million in cash and shares. CFDS, a specialist in infrastructure protection systems, will strengthen Journeo’s capabilities in safeguarding critical assets, while creating opportunities for cross-selling and contributing positively to revenue and profit projections for FY25 and FY26. The acquisition supports Journeo’s strategic objective of expanding into adjacent markets by leveraging its core technologies to target a £100 million revenue goal.

The company’s strong financial performance underpins the acquisition, reflecting robust revenue growth and overall stability. Technical indicators suggest a cautious outlook due to mixed signals, while valuation appears fair. Limited earnings call and corporate events data do not materially affect the outlook.

About Journeo

Journeo plc provides intelligent infrastructure solutions across towns, cities, airports, and public transport networks. The company specializes in critical infrastructure protection, offering technologies such as access control, intrusion detection, and surveillance. Through its six subsidiaries, Journeo delivers a range of services including CCTV, telematics, public transport information systems, and intelligent transport systems across multiple regions.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Severfield plc (LSE:SFR) has reported trading in line with expectations, with market conditions remaining steady since its FY25 results. The company continues to maintain a strong financial position, supported by an extended £60 million Revolving Credit Facility and a focus on cash generation. Its order books are solid, with £420 million in the UK and Europe and a record £252 million in India. Progress on the bridge remedial works program is proceeding as planned, and the company has secured a £20 million insurance recovery. Severfield is scheduled to release its half-year financial results on 25 November 2025.

The outlook reflects ongoing financial pressures, particularly from declining revenues and cash flow constraints. Technical indicators show mixed momentum, while valuation is supported by a high dividend yield but tempered by a negative P/E ratio. Limited corporate events and earnings call data constrain additional insights.

About Severfield

Severfield is the UK’s leading structural steel company, specializing in the design, fabrication, and construction of complex steel projects, with an annual production capacity of approximately 150,000 tonnes. The Group operates seven sites, employs around 1,800 people, and has a strong presence in India through a joint venture with JSW Steel, the country’s largest steel producer.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Mila Resources Plc (LSE:MILA) has made headway in preparing for its Phase 2 drilling campaign at the Yarrol Gold Project, following a successful capital raise in May 2025. A recent ground magnetic geophysical survey has identified new targets for gold mineralization, while a detailed review of historical data by RSC Mining and Mineral Exploration has optimized exploration planning. With land access agreements now in place and drilling set to begin shortly, the company aims to deliver its maiden Mineral Resource Estimate, strengthening its profile as a promising gold development opportunity.

The company continues to face financial pressures, including ongoing losses and cash burn. However, strategic initiatives in exploration and drilling at Yarrol provide potential upside. Technical indicators suggest positive short-term momentum, though valuation concerns persist due to negative earnings and the absence of a dividend.

About Mila Resources

Mila Resources Plc is a natural resources company focused on gold exploration. It specializes in accelerating post-discovery projects and is primarily advancing its flagship Yarrol Gold Project in Queensland, Australia.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Tertiary Minerals PLC (LSE:TYM) has reported encouraging results from its Phase 2 drilling program at the Mushima North Project in Zambia. The campaign revealed an extended zone of thick, near-surface silver mineralization at Target A1, including a 225-meter northern extension with high-grade silver and copper intercepts. These findings support the potential for a bulk tonnage, open-pit silver exploration model and are expected to strengthen the company’s position in the mining sector. Additional analytical results and metallurgical studies are pending, which could further clarify the project’s potential.

While the company faces financial challenges, including ongoing losses and negative cash flow, its strong equity base and promising exploration assets in Zambia and Nevada provide upside potential. Technical indicators show neutral momentum, though valuation concerns remain due to negative earnings.

About Tertiary Minerals PLC

Tertiary Minerals PLC focuses on the exploration and development of mineral resources, primarily silver, copper, and zinc. Its flagship project is Mushima North in Zambia, a region with significant mineral potential, and the company continues to advance its portfolio of high-quality exploration opportunities.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Defence Holdings PLC (LSE:ALRT) has entered a strategic partnership with Whitespace Global Limited to launch Defence Technologies, a platform dedicated to developing sovereign AI-enabled defence software solutions. The initiative supports the priorities outlined in the UK Strategic Defence Review 2025 and establishes Defence Holdings as a credible delivery partner in the defence sector. Two classified products are already in development for the UK Ministry of Defence, underscoring the partnership’s operational focus. This collaboration also strengthens the company’s market positioning by providing a distinct brand identity and demonstrating readiness to key defence stakeholders and investors.

About Defence Holdings PLC

Defence Holdings PLC is the UK’s first publicly listed software-driven defence company, specializing in delivering sovereign digital capabilities for national security, resilience, and defence readiness.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oxford Nanopore Technologies (LSE:ONT) has reported solid financial results for the first half of 2025, with revenue growth across all regions and customer segments, fueled by rising demand in both research and applied markets. The company advanced key strategic initiatives, including product innovation and a new collaboration with Cepheid focused on infectious disease solutions. Oxford Nanopore also maintained a healthy balance sheet and refined its commercial strategy to prioritize high-impact applications.

The company’s outlook is supported by positive technical indicators and favorable guidance from its earnings call. However, challenges remain in terms of profitability and cash flow, and valuation metrics continue to warrant investor caution. Overall, Oxford Nanopore’s strategic growth initiatives and market momentum are significant strengths despite these risks.

About Oxford Nanopore Technologies PLC

Oxford Nanopore Technologies PLC develops nanopore-based molecular sensing technology for real-time, high-performance analysis of DNA and RNA. Its platforms are used in more than 125 countries to study the biology of various organisms and diseases, with applications spanning healthcare, food safety, and agriculture.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.