Author: Fiona Craig

Amaroq Ltd. (LSE:AMRQ), the Greenland-focused mine development company, has announced high-grade zinc, lead and silver exploration results from its Maarmorilik project in West Greenland, alongside a new development strategy designed to bring together existing and newly identified mineral deposits.

The company has introduced its ‘String of Pearls’ strategy, which aims to combine the past-producing Black Angel and Nunngarut ore bodies with surrounding mineralised areas under a coordinated mining and infrastructure plan.

Amaroq also confirmed that it submitted Project Terms of Reference to the Government of Greenland on 30 October 2026, marking an initial step in the environmental and social assessment processes required for project development.

Exploration Results Include Zinc Grades Above 60%

Amaroq’s 2026 exploration programme identified high-grade zinc-lead-silver mineralisation, alongside gallium and germanium, across several deposits surrounding the former Black Angel mine.

At Garde, channel sampling returned 3.1 metres grading 17.49% zinc, 8.08% lead and 36 grams per tonne (g/t) silver, together with 159.2 parts per million (ppm) gallium and 107.5 ppm germanium.

Rock-chip samples from Garde returned grades of up to 62.2% zinc, 0.1% lead and 7 g/t silver.

At Wedge, a 4.1-metre channel sample returned 10.05% zinc, 0.5% lead and 5 g/t silver, with 181.5 ppm gallium. Rock-chip results reached 26.8% zinc and 517 ppm gallium.

Additional rock-chip sampling returned grades of up to 32.2% zinc, 9.1% lead and 59 g/t silver at Glacier, while Myers recorded up to 30.6% zinc, 11.1% lead and 37 g/t silver.

Mapping identified massive lead-zinc sulphide mineralisation extending approximately 350 metres at Garde and 180 metres at Wedge. Both targets remain open at surface and have been prioritised for drilling in 2027.

The company cautioned that channel sample lengths do not necessarily represent true mineralised widths, while selective rock-chip samples may not reflect the average grade of a deposit. The potential commercial recovery of gallium and germanium also remains to be established.

String of Pearls Strategy Targets Multiple Deposits

Amaroq’s new development approach seeks to integrate the historical Black Angel and Nunngarut mining areas with surrounding deposits identified through exploration and retreating ice cover.

The strategy is intended to support the development of successive mineralised zones while making use of existing infrastructure.

Garde, Wedge, Glacier and Ark have been identified as potential shallow mining opportunities, subject to further drilling and engineering assessment.

The company also plans to advance access to the Archangel Zone, previously known as the Deep Ice Zone, and investigate possible extensions to the mineralisation.

Drilling equipment has already been mobilised and stored at Maarmorilik in preparation for an early start to the 2027 resource expansion programme.

Historical Resource Under Review

Amaroq is working with WSP to review Maarmorilik’s historical Mineral Resource Estimate of 3.7 million tonnes.

The assessment also includes approximately 700,000 tonnes of additional historically identified mineralised material that could provide an opportunity for further resource definition.

The objective is to establish an updated Mineral Resource Estimate compliant with NI 43-101 standards and assess a separate Exploration Target to guide future drilling.

Additional verification and engineering studies will determine whether further mineralised material can be incorporated into updated or future resource estimates.

Greenland Regulatory Process Advances

Amaroq submitted its Project Terms of Reference to the Government of Greenland on 30 October 2026, beginning a formal process associated with obtaining mining approval.

The next stages include government review and public pre-consultation, followed by approval of the final Terms of Reference ahead of the granting of an exploitation licence.

Environmental baseline surveys commenced during 2026, with WSP Denmark supporting work towards the project’s Environmental Impact Assessment.

The company is also progressing the Social Impact Assessment required for the proposed development.

Management Comments on Maarmorilik Development

Eldur Olafsson, Chief Executive Officer of Amaroq, said the company had been evaluating development options for the West Greenland Hub assets following their acquisition for $10.5 million in 2025.

He explained that the String of Pearls strategy is intended to combine the existing mineral resource with exploration opportunities surrounding established infrastructure, supporting Amaroq’s objective of developing multiple producing assets in Greenland.

Will Gray, Maarmorilik Project Manager, highlighted the zinc and lead grades identified during the 2026 sampling programme, while acknowledging that exploration samples are not directly comparable with the average grades processed at operating mines.

He also confirmed that drilling equipment is positioned on site ahead of the planned 2027 programme, which will focus on resource expansion and evaluating the potential inclusion of additional deposits in the project’s mineral resource base.

More About Amaroq Ltd.

Amaroq Ltd. is an independent mine development company focused on mineral opportunities in Greenland.

Its Maarmorilik project in West Greenland includes the historical Black Angel mine and surrounding zinc, lead and silver deposits, with additional exploration identifying gallium and germanium mineralisation.

The company is progressing resource evaluation, exploration drilling preparations and environmental and social assessment work as part of its proposed redevelopment strategy.

Blencowe Resources Plc (LSE:BRES), the natural resources company developing the Orom-Cross graphite project in Uganda, has reported positive results from further supercapacitor testing conducted with existing offtake partner YUNASKO and US graphite specialist American Energy Technologies (AETC).

The tests demonstrated power capability approaching 2 kilowatts per kilogram (kW/kg) and discharge rates of up to 70C, supporting the potential use of Orom-Cross graphite in specialist aerospace, defence and high-performance energy storage applications.

Additional prototype cells are now being prepared for independent evaluation at NASA laboratories, with testing expected to begin from December 2026.

Supercapacitor Tests Demonstrate High Power Output

The latest testing programme involved large 5Ah supercapacitor cells incorporating Orom-Cross graphite in both the anode and cathode.

The cells completed more than 130 formation cycles at a current of 10 amperes, while Ragone testing demonstrated power capability approaching 2 kW/kg.

YUNASKO also successfully tested discharge rates of up to 70C, demonstrating the cells’ ability to deliver energy rapidly.

These characteristics are relevant to applications requiring high power output and rapid discharge, including specialist aerospace and military technologies.

The results add to previous testing involving Orom-Cross graphite in advanced batteries, hypersonic aerospace applications and anti-radar coatings.

NASA Laboratory Testing Planned from December 2026

Blencowe and its technical partners are preparing additional prototype supercapacitor cells for independent performance evaluation at NASA laboratories.

The company expects the prototypes to enter the testing schedule from December 2026.

Blencowe believes successful independent verification could support wider commercial evaluation of the technology across US defence and international aerospace markets.

However, the programme remains at the preparation stage, and independent verification of the latest results has not yet been completed.

Existing Partnerships Support Commercial Development

The supercapacitor programme is being undertaken in collaboration with AETC and YUNASKO, which already has a commercial relationship with Blencowe.

YUNASKO is an existing offtake partner under a five-year, non-binding memorandum of understanding covering an initial 500 tonnes per annum of purified medium-flake graphite.

Blencowe is seeking to expand the range of applications for Orom-Cross graphite beyond conventional battery and industrial markets, targeting specialist products that may attract higher pricing.

The company has also secured non-binding offtake coverage exceeding its planned Phase 1 production capacity of 20,000 tonnes per annum.

The latest testing results could provide additional opportunities to develop higher-value commercial relationships, although potential applications remain subject to further technical evaluation and commercial development.

Interim CEO Comments on Testing Results

Iain Wearing, Interim Chief Executive Officer of Blencowe Resources, commented:

“These are extremely encouraging results, demonstrating the ability of Orom-Cross graphite to perform in some of the most demanding energy storage applications.

The next stage is particularly exciting, with new prototype cells being prepared for independent evaluation at NASA laboratories from December. The significance extends well beyond potential NASA applications, as successful independent verification could help accelerate acceptance of the technology across the wider defence and aerospace industries and further high-value commercial opportunities.

We are now seeing repeated technical success across a growing range of demanding applications, from advanced batteries and supercapacitors to hypersonic aerospace and anti-radar technologies. Together, these results provide compelling evidence of the quality and versatility of Orom-Cross graphite, significantly strengthening its commercial application and potential.

Our strategy is to translate this growing body of technical success into a diversified portfolio of customers across high-value markets, where the performance of our graphite can deliver meaningful commercial advantages as we advance Orom-Cross towards production.”

More About Blencowe Resources

Blencowe Resources Plc is a natural resources company advancing the Orom-Cross graphite project in Uganda.

The company is developing commercial relationships across conventional graphite markets and specialist applications, including battery technologies, aerospace, defence and advanced energy storage.

Its planned Phase 1 production capacity is 20,000 tonnes per annum, with non-binding offtake arrangements covering volumes above that level.

Ibstock Plc (LSE:IBST), the UK manufacturer of building products and solutions, has lowered its full-year earnings expectations following a sharp deterioration in trading conditions during the third quarter of 2026, with weakness continuing into October.

The company now expects adjusted EBITDA for the year ending 31 December 2026 to be in the mid-£40 million range, reflecting weaker brick sales, reduced production and additional costs associated with lower factory utilisation.

UK Brick Market Decline Weighs on Third-Quarter Sales

Industry figures showed UK brick market volumes declined by approximately 17% year on year during July and August, reflecting continued pressure on construction activity.

Against this backdrop, Ibstock maintained its domestic brick market share during the third quarter, while average selling prices remained broadly in line with expectations.

However, weaker market conditions persisted through September and October, with third-quarter sales in the Group’s Clay division falling 22% below expectations.

In response, Ibstock reduced production by approximately 20% compared with the plans established at the half-year stage, aiming to align manufacturing output with demand and prevent excess inventory accumulation.

The resulting reduction in fixed-cost absorption is expected to lower adjusted EBITDA by approximately £6 million, in addition to the earnings impact of weaker sales volumes.

Full-Year EBITDA Forecast Reduced to Mid-£40 Million Range

Ibstock said the combined effects of lower sales and reduced production would result in second-half financial performance materially below its previous expectations.

The company has introduced further cost-saving measures, primarily targeting overheads and discretionary expenditure, to partially offset the impact.

Management is also prioritising cash generation through tighter inventory control, disciplined capital expenditure and reduced discretionary spending.

Ibstock expects its strategic land assets, including those associated with calcined clay, to provide opportunities to support debt reduction in the near term.

Housing Support Scheme Offers Potential Medium-Term Benefits

Ibstock welcomed the government’s Your First Home support scheme, which it believes could improve housing affordability and stimulate demand for newly built homes.

However, the company expressed disappointment that the scheme will not be introduced until April 2027, noting that the delay has placed additional pressure on near-term demand.

Despite current market weakness, Ibstock said the initiative supports its confidence in the medium-term outlook for UK housing construction.

Nostell Factory Commissioning Remains on Schedule

The company reported continued progress with commissioning its new ceramic façades manufacturing facility at Nostell.

Commissioning is expected to be completed by the end of 2026.

The facility is intended to expand Ibstock’s product portfolio, with management expecting it to deliver financial returns over the medium term as production volumes increase.

CEO Comments on Trading Conditions

Joe Hudson, Chief Executive Officer of Ibstock, said:

“Trading conditions deteriorated sharply during the third quarter, with weakness continuing into October. We have responded by reducing production to manage inventory, taking further cost action and maintaining tight control of cash. These production decisions create an additional near-term earnings headwind but are necessary to align output with demand.

We will continue to focus on cash generation and net debt reduction, alongside completing commissioning at Nostell and progressing opportunities to realise value from our asset base. The announced support for first-time buyers is encouraging, although its introduction in April 2027 may weigh on demand in the intervening period. Our market-leading offering and well-invested production base enables us to benefit when activity recovers.”

More About Ibstock Plc

Ibstock Plc is a UK manufacturer of building products and solutions, operating through its Clay and Concrete divisions.

Its Clay division operates 15 manufacturing sites supported by 15 active quarries, while its Concrete division operates 13 manufacturing facilities producing roofing, walling, flooring, fencing and infrastructure products.

The Group also operates Ibstock Futures, which focuses on sustainable building products and modern methods of construction.

Ibstock’s environmental strategy includes a target to reduce carbon emissions by 40% by 2030 and achieve net-zero operations by 2040.

Phoenix Copper Ltd (LSE:PXC), the AIM-listed US-focused base and precious metals exploration and development company, has announced an updated Mineral Reserve Statement for its Empire Open-Pit Mine in Idaho, reporting a 31.49% increase in ore tonnage compared with its inaugural reserve estimate published in May 2024.

The revised Proven and Probable reserves total 13.27 million tonnes, containing approximately 118.8 million pounds of copper, 134,600 ounces of gold and 5.41 million ounces of silver.

The company reported total contained metal of 83,959 copper equivalent tonnes, representing a 26.31% increase compared with the previous reserve estimate.

Updated Empire Reserves Include Copper, Gold and Silver

The 2026 Mineral Reserve Statement identifies 13.27 million tonnes of economically mineable material within the Empire open-pit deposit.

The updated reserves contain 118,781,100 pounds of copper, 134,600 ounces of gold and 5,407,400 ounces of silver.

On a copper equivalent basis, the total amounts to 83,959 tonnes of contained metal.

Phoenix Copper said the revised figures represent a 31.49% increase in reserve tonnage and a 26.31% increase in copper equivalent metal compared with the May 2024 estimate.

The updated reserves were estimated by Hardrock Consulting using methods consistent with internationally recognised mineral reserve reporting standards, including NI 43-101-related requirements.

Pre-Feasibility Study Update Underway

Phoenix Copper confirmed that its consultants are updating the Empire project’s 2024 Pre-Feasibility Study (PFS) to incorporate the revised Mineral Reserve Statement.

The updated study will use the new reserve figures as the basis for reassessing the proposed open-pit mining operation.

The company intends to publish the revised PFS once the work has been completed, although no specific publication date was provided.

Mineral reserves represent the portion of a mineral resource assessed as economically mineable following technical and economic evaluation, including allowances for mining dilution and extraction losses.

The Empire estimate comprises Proven and Probable reserves, reflecting different levels of geological confidence and supporting technical information.

CEO Comments on Reserve Increase

Ryan McDermott, Chief Executive Officer of Phoenix Copper, reported that the revised reserves represent a 31.49% increase in ore tonnes and a 26.31% increase in copper equivalent metal compared with the May 2024 estimate.

He also confirmed that consultants are updating the project’s Pre-Feasibility Study using the revised reserve figures, with publication planned following completion of the assessment.

Technical Review and Environmental Work

Phoenix Copper confirmed that the technical information supporting the announcement was reviewed and verified by Dennis Thomas, a co-founder of the company and a chartered mining engineer.

Thomas is recognised as a Qualified Person under the AIM Rules and consented to the inclusion of the technical information in the announcement.

The company also reported that environmental baseline data collected at Empire will continue to support the project’s permitting process and its environmental, social and governance activities.

These activities are overseen by Phoenix Copper’s ESG & Sustainability Committee. The company has also published its inaugural Sustainability Report.

More About Phoenix Copper

Phoenix Copper Ltd is an AIM-listed mineral exploration and development company focused on base and precious metals projects in the United States.

Its Empire Open-Pit Mine project in Idaho contains copper, gold and silver reserves and is undergoing further technical evaluation through an updated Pre-Feasibility Study.

The company is also progressing environmental and permitting activities associated with the proposed development.

Serica Energy Plc (LSE:SER), the UK-focused oil and gas producer, has signed a contract for the Odfjell Drilling-operated Beacon Pacific rig to undertake a multi-well drilling programme across its UK Continental Shelf (UKCS) portfolio, with operations expected to begin in the third quarter of 2027.

The programme initially covers six wells, with options for additional drilling activity. Serica estimates that the opportunities identified across its portfolio could contribute up to 30,000 barrels of oil equivalent per day (boepd) in incremental production, supporting its objective of maintaining portfolio output of approximately 50,000 boepd into the next decade.

Bruce Field Drilling to Target More Than 10,000 Boepd

The first phase of the campaign will focus on the Bruce field, where Serica plans to undertake its first drilling operations since 2012.

The proposed infill wells target 18.6 million barrels of oil equivalent (mmboe) of proved and probable (2P) reserves, with potential initial production exceeding 10,000 boepd net to Serica.

The company expects first production approximately 12 months after drilling begins, subject to operational progress.

The programme forms part of Serica’s strategy to develop additional production opportunities within its existing UKCS asset portfolio.

Additional Drilling Opportunities Across UKCS Portfolio

Beyond Bruce, Serica has identified further drilling opportunities at Kyla, Edradour Royal Sovereign Spinnaker and Tormore.

At Kyla, the proposed redevelopment targets 10.1 mmboe of 2P reserves, with potential initial production exceeding 5,000 boepd. Serica estimates that production could begin approximately five months after drilling commences.

The Edradour Royal Sovereign Spinnaker opportunity targets 5 mmboe of contingent (2C) resources, with potential initial production above 5,000 boepd and an estimated six-month period from drilling commencement to production.

At Tormore, the company has identified potential initial production of approximately 4,000 boepd, with an estimated six-month development period. The volume of reserves or resources targeted has yet to be confirmed.

Progression of additional drilling opportunities remains subject to the necessary partner and regulatory approvals.

Beacon Pacific Rig Provides Additional Operational Capacity

The Beacon Pacific is a sixth-generation semi-submersible drilling rig upgraded to operate in water depths of up to 620 metres.

Serica said the rig is capable of undertaking the range of drilling activities identified across its portfolio.

The agreement also provides flexibility to use the rig for plugging and abandonment operations where required.

The initial contract covers six firm wells, while further options could allow the company to extend the programme depending on future operational requirements and approvals.

CEO Comments on Drilling Programme

Chris Cox, Chief Executive Officer of Serica Energy, stated:

“Securing the rig is an important milestone in delivering our organic growth programme. Our first campaign will be at Bruce – the field’s first drilling programme in almost fifteen years – where we are targeting high-return infill wells with the potential for rapid payback.”

Cox also said the rig would provide flexibility to pursue additional opportunities at Kyla and in the Greater Laggan Area, subject to partner and regulatory approvals.

More About Serica Energy

Serica Energy Plc is an oil and gas exploration and production company with operations on the UK Continental Shelf.

Its portfolio includes the Bruce field and additional development opportunities across the North Sea.

The company is pursuing a programme of infill drilling and field redevelopment projects intended to increase production from its existing asset base.

Alien Metals Limited (LSE:UFO), the minerals exploration and development company, reported progress across its Australian portfolio for the quarter ended 30 September 2026, including further silver drilling results at Elizabeth Hill and exploration activity at Munni Munni and Whundo.

The company’s joint venture partners, West Coast Silver Limited (ASX: WCE) and GreenTech Metals Limited (ASX: GRE), raised a combined A$16.7 million during 2026 to fund exploration and technical programmes. Alien retains 30% free-carried interests in Elizabeth Hill and Munni Munni, alongside equity holdings in both companies.

Elizabeth Hill Silver Resource Update Expected in November

At Elizabeth Hill, West Coast Silver reported drilling results including 38.3 metres grading 878 grams per tonne (g/t) silver from 3.7 metres in hole 26WCDD037, including 22.3 metres at 1,495 g/t silver.

Additional intersections included 13.5 metres at 2,253 g/t silver and 3.0 metres at 524 g/t silver, with drilling identifying mineralisation beyond the existing resource boundaries. All reported intervals represent downhole lengths.

The project’s April 2026 JORC Mineral Resource Estimate stands at 141,000 tonnes grading 617 g/t silver, containing approximately 2.8 million ounces.

West Coast Silver, which raised A$6 million in September, expects to publish an updated resource estimate in November 2026, with further drilling and a Scoping Study planned for early 2027.

Alien holds a 30% project interest, free-carried until a decision to mine, and approximately 7% of West Coast Silver’s issued shares.

Munni Munni and Whundo Exploration Programmes Progress

At Munni Munni, GreenTech is advancing geological studies, metallurgical testing and resource re-estimation work.

The project has a historical estimate of 23.6 million tonnes grading 2.9 g/t platinum group elements and gold, containing approximately 2.2 million ounces. This estimate is not compliant with JORC 2012 standards and has not been classified as a current Mineral Resource.

GreenTech expects to complete an updated JORC resource assessment during the December quarter. Preparations are also underway for drilling targeting copper-nickel mineralisation following geochemical and electromagnetic surveys.

At the GreenTech-owned Whundo copper-zinc project, drilling at Ayshia returned 4.76 metres grading 7.13% copper, 1.20% zinc, 0.88 g/t gold and 29.6 g/t silver.

The existing Whundo resource totals 6.2 million tonnes grading 1.12% copper and 1.04% zinc. An updated estimate incorporating gold and silver is targeted for the December quarter.

Alien holds a 30% free-carried interest in Munni Munni and approximately 10.1% of GreenTech’s shares, providing indirect exposure to Whundo.

Georgina Basin and Iron Ore Portfolio Review

Alien continued technical evaluation at its wholly owned Georgina Basin copper-gold project in Australia’s Northern Territory, covering approximately 2,500 square kilometres.

During the quarter, four exploration licences were consolidated into two without changing the project’s ownership or area. The company also reviewed historical drilling information and continued engagement with Traditional Owners regarding additional licence applications.

Separately, Alien is assessing joint ventures, partnerships and potential disposals for its Hancock, Vivash and Brockman iron ore projects. Discussions with interested parties remain ongoing, although no agreement is guaranteed.

Partner Funding and Corporate Position

West Coast Silver and GreenTech raised approximately A$16.7 million through equity placements during 2026, with respective cash balances of A$5.6 million and A$4.5 million at 30 September.

Under the existing joint venture agreements, Alien is not expected to fund applicable exploration expenditure at Elizabeth Hill until a decision to mine or at Munni Munni until completion of a bankable feasibility study.

The company remains responsible for its own corporate and directly controlled project expenditure. It also extended the repayment date of its loan facility to 30 September 2027.

Vince Fayad, Executive Director of Alien Metals, commented on the funding and exploration programmes, noting that the company’s joint venture structure allows it to retain exposure to potential resource development while its partners fund current activities.

More About Alien Metals Limited

Alien Metals Limited is a minerals exploration and development company with interests in silver, copper, zinc, platinum group metals, nickel, gold and iron ore projects in Australia.

Its portfolio includes joint venture interests in Elizabeth Hill and Munni Munni, equity holdings in West Coast Silver and GreenTech Metals, and directly controlled copper-gold and iron ore exploration assets.

BSF Enterprise PLC (LSE:BSFA), a biotechnology company developing cell-based tissue engineering and biomaterial technologies, announced on 2 November 2026 that it is extending its technology platform into humanoid robotics and physical artificial intelligence (AI).

The expansion involves applying tissue-assembly technology developed by its wholly owned subsidiary, 3D Bio-Tissues Limited (3DBT), to the production of seamless external coverings for robotic hands and articulated components.

The company has filed a UK priority patent application covering tissue-assembly methods that could be used to manufacture robotic hand coverings incorporating tactile sensor systems.

BSF intends to pursue commercial development through partnerships with robotics manufacturers, with the objective of securing externally funded development programmes.

3D Bio-Tissues Files Patent Application Covering Robotic Hand Technology

3DBT has submitted a priority patent application to the UK Intellectual Property Office titled “Tissue Assembly Method and/or Tissue Assembly”.

The application, numbered GB2622781.9, has a priority date of 28 September 2026.

The filing covers methods for producing seamless tissue structures, including potential applications involving humanoid robotic hands, articulated fingers and coverings positioned over tactile sensor arrays.

BSF said the technology builds on its existing tissue-engineering platform, which is already being used in commercial evaluation programmes involving biomaterials for the luxury fashion industry.

The application represents an extension of the company’s intellectual property development activities into a new potential market.

Technology Builds on Existing Luxury Biomaterials Programmes

The robotic coverings are based on the same three-dimensional tissue-assembly architecture being developed by BSF subsidiary Lab-Grown Leather Ltd.

The company said its monolithic manufacturing process enables tissue structures to be produced as continuous, stitchless components rather than assembled from separate sections.

Lab-Grown Leather is currently conducting contracted, partner-funded commercial evaluation programmes with two global luxury fashion houses.

These programmes involve the development of three-dimensional moulded biomaterial structures for potential use in luxury products.

BSF intends to apply the underlying manufacturing approach to robotic components, although commercial adoption within the robotics industry has not yet been established.

Proposed Robotic Coverings Designed for Articulated Hands and Sensors

BSF outlined several technical characteristics of its proposed robotic covering technology, which is intended to address mechanical and sensor integration requirements in humanoid robotics.

The tissue-assembly method is designed to produce single-piece coverings with variable thickness across different sections of a robotic hand.

According to the company, the proposed structure could incorporate thicker material over finger pads while allowing sections as thin as 0.3 millimetres around articulated joints.

This configuration is intended to provide wear resistance in areas subject to contact while maintaining flexibility around moving components.

The company also said the collagen-based material is designed to transfer contact forces to underlying tactile sensors, potentially allowing the coverings to operate alongside pressure and touch-detection systems.

Another feature involves manufacturing at temperatures below 40°C, which BSF said could allow tissue structures to be formed around components without the higher-temperature processing required for certain synthetic materials.

These technical characteristics form part of the proposed application of the company’s tissue-engineering platform. The announcement did not provide completed robotics durability testing results or confirm commercial deployment of the coverings.

US Patent Application Receives Notice of Allowance

BSF also highlighted developments involving its existing intellectual property portfolio.

The company’s proprietary macromolecular crowding (MMC) technology has received a Notice of Allowance from the United States Patent and Trademark Office covering 17 claims under US patent application 18/578,286.

The claims relate to methods supporting the production of skin, corneal tissue and extracellular matrix materials.

The MMC technology forms part of 3DBT’s upstream tissue-production platform, while the newer UK application addresses downstream tissue assembly and potential finished-component applications.

BSF is seeking to use these technologies across multiple commercial sectors, including luxury biomaterials and robotics.

Robotics Commercialisation to Focus on Partner-Funded Agreements

BSF plans to pursue a business-to-business commercialisation strategy for its proposed robotic skin technology.

The company intends to seek Joint Development Agreements (JDAs) with established robotics original equipment manufacturers and automation developers.

Under the proposed arrangements, commercial partners would fund application-specific development activities, including computer-aided design tooling, sensor integration and durability testing.

BSF said this approach is intended to limit the amount of central company funding required for the new robotics development programme.

The company also confirmed that 3DBT would retain full legal ownership of its foundational synthesis intellectual property, cell lines and proprietary media formulations, including CityMix® and CytoBoost™.

Subject to technical development and commercial agreements, BSF envisages supplying custom-moulded robotic hand coverings and related components to manufacturers.

No completed robotics Joint Development Agreements, customer orders or associated revenue commitments were disclosed in the announcement.

CEO Comments on Robotics Expansion

Dr. Che Connon, Chief Executive Officer of BSF Enterprise PLC, commented:

“Our core objective across BSF is taking breakthrough tissue-engineering intellectual property originated in our laboratories and driving it into high-margin, scalable commercial markets.

“This priority patent filing demonstrates the sheer versatility of 3D Bio-Tissues’ platform. The exact same monolithic, stitchless 3D tissue architecture that we are currently executing under funded commercial programmes with global luxury fashion houses via Lab-Grown Leather translates directly into solving the most demanding component challenge in modern humanoid robotics.

“By eliminating seams, preserving sensor sensitivity, and allowing direct moulding over complex articulating joints, this technology positions 3DBT as an indispensable hardware partner for the emerging physical AI revolution. Crucially, we will execute this vertical via partner-funded development agreements, securing long-term high-margin component supply while protecting our group cash runway.”

More About BSF Enterprise PLC

BSF Enterprise PLC is a biotechnology company focused on developing and commercialising cell-based tissue engineering and biomaterial technologies.

Its wholly owned subsidiary, 3D Bio-Tissues Limited, develops tissue-production and assembly technologies, including proprietary media formulations and three-dimensional tissue structures.

Through Lab-Grown Leather Ltd, the Group is conducting commercial evaluation programmes involving biomaterials for the luxury fashion sector.

The company is now exploring additional applications for its tissue-engineering technology in humanoid robotics, with commercial development expected to depend on future partnerships, technical validation and customer agreements.

Oriole Resources (LSE:ORR), the AIM-listed exploration and development company focused on Central and West Africa, has reported results from metallurgical testing at its 50%-owned Bibemi gold project in north-eastern Cameroon, identifying ultra-fine grinding as a potential alternative to the pressure oxidation process included in its existing development assessment.

Testing conducted by ALS Ltd. in Perth, Australia, returned gold recoveries exceeding 90% from oxide samples after 24 hours of cyanide leaching. Additional work on sulphide material produced downstream recoveries of between 94% and 98% from flotation concentrates following ultra-fine grinding.

The results will inform an updated Preliminary Economic Assessment (PEA), which Oriole expects to complete later in the current quarter.

Oxide Samples Deliver Gold Recoveries Above 90%

The metallurgical programme examined two near-surface oxide samples and two sulphide samples collected from the Bibemi project.

Testing confirmed that the oxide material could be processed using conventional cyanidation, achieving gold recoveries above 90% after 24 hours of leaching at a grind size of 75 microns.

Oriole said these results were consistent with earlier metallurgical work conducted by SGS South Africa between 2022 and 2024.

The sulphide samples underwent flotation testing at the same 75-micron grind size, producing gold recoveries of 81% and 82%, respectively.

Further testing focused on processing the resulting flotation concentrates using ultra-fine grinding as an alternative to the pressure oxidation method previously considered for the project.

Ultra-Fine Grinding Produces 94% to 98% Downstream Recovery

ALS tested the sulphide flotation concentrates after grinding them to particle sizes of 20 microns and 10 microns, followed by cyanide leaching.

The process achieved downstream gold recoveries ranging from 94% to 98% after 72 hours.

These percentages represent recovery from the flotation concentrate rather than the original sulphide feed material, from which approximately 81% to 82% of the gold was recovered during the flotation stage.

Oriole reported that overall gold recovery using the ultra-fine grinding process was broadly comparable with the assumptions underlying the pressure oxidation flowsheet in its existing PEA.

The previous assessment assumed overall gold recovery of 85%, based on a processing sequence involving flotation, pressure oxidation of the flotation concentrate and subsequent leaching.

According to Oriole, ultra-fine grinding could offer several operational differences compared with pressure oxidation, including a simpler processing plant, the elimination of high-pressure equipment and reduced requirements for specialised autoclave construction materials.

The company also identified potential reductions in operational complexity and the level of specialist management and supervision required.

These potential benefits remain subject to further engineering and economic assessment.

Updated Economic Assessment Expected Later This Quarter

Oriole has engaged Stirling Process Engineering Ltd to undertake a detailed comparison of the alternative mineral processing options.

The study will examine the capital and operating costs associated with an ultra-fine grinding flowsheet relative to the pressure oxidation process included in the existing project assessment.

Oriole said preliminary indications suggest that capital and operating costs for the two processing routes are likely to be comparable, although the detailed study has not yet been completed.

The findings are expected to be incorporated into an updated PEA, scheduled for completion later in the current quarter.

The assessment will provide additional information to support the selection of a processing method for the proposed Bibemi mining operation.

Bibemi Gold Resource Stands at 460,000 Ounces

The Bibemi project covers approximately 177 square kilometres in Cameroon’s North region.

Exploration has identified gold mineralisation across four principal prospects: Bakassi Zone 1, Bakassi Zone 2, Lawa West and Lawa East.

These prospects occur within a mineralised hydrothermal system extending approximately 12 kilometres at surface.

Bibemi has a reported Mineral Resource Estimate of 6.96 million tonnes grading 2.06 grams per tonne gold, containing approximately 460,000 ounces.

Of the total resource, 100,000 ounces are classified as Indicated, with the remaining ounces classified as Inferred under the JORC Code.

The resource is contained entirely within the BZ1-MRE zone and was calculated using a cut-off grade of 0.40 grams per tonne gold, constrained by a pit shell based on a gold price of US$2,750 per ounce.

Oriole has also identified an Exploration Target across the wider Bibemi project of between 3.0 million and 5.0 million tonnes grading between 1.50 and 2.50 grams per tonne gold, equivalent to approximately 145,000 to 400,000 ounces of contained gold.

The Exploration Target is separate from the established Mineral Resource Estimate and represents potential mineralisation requiring further evaluation.

Proposed Open-Pit Mine Targets 89,000 Ounces of Gold

Oriole is negotiating an Exploitation Licence for a proposed small-scale open-pit mining operation at Bibemi.

The company has submitted an Exploitation Licence Application supported by a PEA examining an optimised mining scenario targeting approximately 89,000 ounces of gold, largely centred on the project’s 100,000-ounce Indicated Resource.

The existing assessment assumes a seven-year mine life and average annual gold production of approximately 10,000 ounces.

Oriole described the PEA as being at Scoping Study level, meaning further technical and economic evaluation is required before the proposed development can progress.

The updated metallurgical assessment will consider whether ultra-fine grinding can replace the pressure oxidation circuit assumed in the original processing design.

CEO Comments on Metallurgical Results

Martin Rosser, Chief Executive Officer of Oriole Resources, commented:

“We welcome the latest Bibemi mineral processing test results as there is now encouraging potential for an improved flowsheet as an alternative to the earlier one developed using pressure oxidation. As such, the provisional indication is that capital and operating costs will likely be comparable, with significant operational benefits, thus confirming ultra-fine grinding as a viable alternative. We look forward to receiving Stirling’s detailed trade-off study.

“Having the option of a processing flowsheet that uses ultra-fine grinding gives processing method flexibility compared to one using POX. Both methods will have pros and cons for the processing of other gold-telluride deposits that may occur in Cameroon, dependent upon the magnitude of plant throughput and ore mineralogy.”

More About Oriole Resources

Oriole Resources is an AIM-listed mineral exploration and development company focused on gold projects in Central and West Africa.

The company holds a 50% interest in the Bibemi gold project in Cameroon, where it is progressing technical studies and negotiations for an Exploitation Licence covering a proposed small-scale open-pit operation.

Current work includes evaluating mineral processing alternatives, refining development cost estimates and updating the project’s Preliminary Economic Assessment.

Newmark Security plc (LSE:NWT), a provider of secure people-data solutions for human capital management (HCM) systems, reported a 13% year-on-year increase in annualised recurring revenue (ARR) from its HCM business to £4.3 million in September 2026, compared with £3.8 million a year earlier.

The company expects HCM revenue for the six months ended 31 October 2026, the first half of its 2027 financial year, to exceed the corresponding prior-year period. Newmark also reiterated that revenue is expected to be weighted towards the second half of the financial year, consistent with previous years.

HCM Recurring Revenue Increases 26% on an Underlying Basis

Newmark attributed the increase in HCM annualised recurring revenue primarily to its GT Tablet workforce management solution.

Reported ARR rose 13% to £4.3 million in September 2026. Excluding the impact of a short-term Mexican services contract that was phased out during the previous year, underlying ARR growth reached 26%.

The company said its HCM operations continued to secure customer contracts and product orders during the first half, including transactions involving existing enterprise customers and new direct-to-end-user relationships.

U.S. Airline and Enterprise Customers Contribute to HCM Orders

Newmark reported several commercial developments during the six-month period, including its first substantial order from a customer secured in FY26 to supply a large U.S. airline.

The company also received an additional order from a global home furnishings business through Legion, which became a customer during the previous financial year.

In the United States, Newmark secured a new direct-to-end-user (D2E) customer, representing its first customer win involving Workday.

Separately, the company extended its relationship with its largest HCM customer through a significant agreement to supply workforce management clocks.

Newmark described the agreement as its largest clock order to date and expects delivery to be completed before the end of the current financial year.

AI Workforce Management Tools and New Clock Development

Newmark provided an update on its product development programme, including the introduction of artificial intelligence capabilities across its workforce management technology.

The first version of an AI agent embedded within the company’s cloud-based GT Connect platform went live in May 2026, in line with its development schedule.

The software enables users to query real-time workforce operations data.

As part of its five-year technology roadmap, Newmark is developing AI-enabled hardware capabilities for an existing workforce management clock, with release planned for mid-2027.

Development is also continuing on GT1, a lower-cost clock designed for the HCM market. The company expects to launch the product in 2027 and reported receiving positive initial feedback from customers regarding its design.

Safetell Disposal Completed as Access Control Sale Progresses

Newmark confirmed that the disposal of Safetell was completed on 30 September 2026, following a government review conducted under the National Security and Investment Act.

The transaction forms part of the company’s strategy to concentrate its operations and investment on the HCM business.

Newmark is also progressing the proposed disposal of its Access Control business following the completion of a strategic review.

The Board determined that further investment in Access Control would require management resources and capital that it intends to allocate to HCM operations.

Management confirmed that discussions are underway with a prospective purchaser, although no completed transaction has been announced.

Alongside these disposals, Newmark is reviewing additional cost-reduction opportunities at Group level as it moves towards an HCM-focused operating structure.

CEO Comments on Trading and Strategic Priorities

Marie-Claire Dwek, CEO of Newmark Security, commented:

“We have made an encouraging start to the year as we continue to successfully execute our strategy. HCM annualised recurring revenue has grown 13% year-on-year to £4.3 million and by 26% on a underlying basis. We have won further new contracts and product orders, which includes another U.S. enterprise customer through our D2E strategy and securing our largest clocks order ever with an existing key customer.

“Following the recent disposal of Safetell and the sale process of Access Control having commenced, we are now firmly focused on HCM and realising our sales pipeline and the growth opportunities we see ahead.”

More About Newmark Security PLC

Newmark Security plc provides secure people-data and workforce management technology for human capital management systems.

Its HCM business includes workforce management clocks, GT Tablet solutions and the cloud-based GT Connect platform, with customers including enterprise organisations in the United States.

The company is implementing a strategy focused on expanding its HCM operations, developing additional software and hardware capabilities, and divesting businesses outside its core activities.

Goldplat plc (LSE:GDP), the AIM-listed mining services group with gold recovery operations in South Africa and Ghana, has announced an updated JORC-compliant Mineral Resource estimate for the tailings storage facility (TSF) operated by its 90.63%-owned subsidiary, Goldplat Recovery (Pty) Limited, in Benoni, South Africa.

The revised estimate identifies a Measured Mineral Resource of 2.34 million tonnes grading 1.74 grams per tonne (g/t) gold, containing 130,560 ounces of gold. Of this total, approximately 118,330 ounces are attributable to Goldplat.

The estimate, prepared by Sound Mining International SA (Pty) Limited, has an effective date of 31 August 2026 and replaces the previous resource assessment published in January 2016.

Updated Gold Resource Compared With 2016 Estimate

The latest estimate compares with the previously reported total Mineral Resource of 81,959 ounces of gold contained in 1.43 million tonnes grading 1.78 g/t, which included Measured, Indicated and Inferred resources.

However, the earlier assessment incorporated material from the footwall soils beneath the tailings facility, which has been excluded from the updated estimate.

On a comparable basis, the 2016 tailings-only resource comprised approximately 1.20 million tonnes containing 73,895 ounces of gold.

The updated assessment therefore represents an increase of 56,665 contained ounces, or approximately 77%, compared with the earlier tailings-only estimate.

Goldplat attributed the increase primarily to approximately one million tonnes of additional tailings deposited at the facility between the drilling programme supporting the 2016 estimate and December 2023.

The company also reported that the entire updated resource has been classified in the Measured category, compared with the combination of resource classifications used in the previous assessment.

Drilling Programme Covers Entire Tailings Facility

The revised Mineral Resource estimate incorporates results from a new auger drilling programme covering the full footprint of the Benoni tailings storage facility.

The programme comprised 25 vertical drill holes totalling 522 metres, with an average depth of approximately 21 metres. Samples were collected at 1.5-metre intervals throughout the facility’s depth.

Goldplat said the updated drilling programme provided broader coverage than the earlier assessment, which relied predominantly on drilling around the facility’s perimeter.

No new bulk density measurements were undertaken as part of the latest programme. Instead, the estimate applies a bulk density of 1.34 tonnes per cubic metre, established during drilling conducted in 2015.

The facility received tailings from January 2003 until December 2023, when Goldplat Recovery transferred deposition activities to a new tailings storage facility.

Gold-Only Estimate Excludes Silver, Uranium and Footwall Soils

The updated Mineral Resource estimate covers gold exclusively.

Silver and uranium oxide resources included in the 2016 assessment have not been re-estimated, and Goldplat stated that the previous estimates for those minerals should no longer be relied upon.

The footwall soils beneath the tailings storage facility were also excluded from the updated geological model and resource calculation.

The revised figures therefore relate solely to gold contained within the tailings material covered by the latest assessment.

Concept Study Underway to Assess Tailings Reprocessing

Goldplat has commissioned South African engineering, procurement and construction management contractor LogiProc (Pty) Ltd to undertake a concept study examining options for reclaiming and processing material from the tailings facility.

Subject to management approval of the concept study, the company intends to proceed with a feasibility and economic assessment.

Goldplat is considering potential processing arrangements using its existing facilities or third-party infrastructure.

Among the options under evaluation is the possible use of servitudes, processing plant and deposition capacity associated with DRDGOLD.

The company is also working with independent third parties to assess the recoverability of gold contained within the tailings.

Goldplat cautioned that the ability to process the facility and realise its potential economic value remains subject to significant technical, regulatory, funding and execution uncertainties.

The updated Mineral Resource estimate establishes the quantity and grade of the reported gold resource but does not determine how much gold can ultimately be recovered economically.

CEO Comments on Resource Assessment and Processing Plans

Werner Klingenberg, CEO of Goldplat, commented:

“The upgraded JORC Resource is an important step in unlocking the value of the TSF, although it will take time to ensure operational readiness. Alongside the resource upgrade, we are working with independent third parties to establish the recoverability of the gold contained in the TSF, whilst the economic route to recovery is developed. The next step is to provide clarity on recoverability, and then to settle the processing route and timelines.”

More About Goldplat PLC

Goldplat plc is an AIM-listed mining services group operating gold recovery businesses in South Africa and Ghana, serving customers across the African and South American mining industries.

Its South African subsidiary, Goldplat Recovery (Pty) Limited, operates gold recovery facilities in Benoni, including the tailings storage facility covered by the updated JORC Mineral Resource estimate.

The company is evaluating the technical and economic feasibility of recovering gold from the facility as part of its ongoing operational activities.