Author: Fiona Craig

Mincon Group plc (LSE:MCON) has raised its full-year 2026 revenue and EBITDA expectations following a 28% increase in revenue during the first nine months of the year, supported by higher demand across its construction and mining operations.

The Irish engineering group reported that revenue for the nine months to 30 September 2026 increased by 28% compared with the corresponding period in 2025, with construction activities accounting for much of the growth.

Mincon said its construction business benefited from increased demand for its drilling products, including its spiral flush drilled foundations system, which has gained additional commercial activity in North America.

The company also secured two new projects in Sweden, with work scheduled for completion between late 2026 and early 2027. These contracts form part of Mincon’s ongoing activities in the construction and infrastructure markets.

Alongside the expansion in construction-related sales, Mincon reported growth in its mining business across Africa, Australia and North America.

The company said higher sales volumes across these regions contributed to the overall increase in revenue during the period.

However, increased raw material costs affected margins, prompting Mincon to introduce modest selling price increases to offset part of the additional expenditure.

According to the group, some input cost pressures have subsequently eased, partially reducing the impact of higher material prices on its operations.

Mincon also reported improvements in operating leverage as increased production throughput allowed the business to spread operating costs across higher sales volumes.

The combination of increased revenue, improved operating leverage and moderating input costs has led the board to revise its financial expectations for the remainder of the year.

Management now expects both revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year ending 31 December 2026 to exceed current market expectations.

The company has not provided revised numerical forecasts for either measure in the trading update.

Mincon continues to serve construction and mining customers through its international manufacturing and distribution network, with operations spanning Europe, North America, Africa and Australia.

The group’s activities include the manufacture and supply of rock drilling tools, consumables and specialist foundation drilling equipment used in construction and mineral extraction.

The board’s updated guidance reflects trading during the first nine months of 2026 and its current expectations for the final quarter.

About Mincon Group

Mincon Group plc (LSE:MCON) is an Irish engineering company specialising in the design, manufacture, distribution and servicing of rock drilling tools and associated consumable products for the construction and mining industries.

The group operates manufacturing facilities in Ireland, Finland, the United States, South Africa, Canada, Sweden and Australia, supported by an international sales and service network. Its product portfolio includes drilling equipment and specialist foundation solutions, including its spiral flush drilled foundations system.

Amigo Resources PLC (LSE:AMGO) has reported progress in expanding its gold and platinum group metals (PGM) processing operations in Tanzania, with installation of commercial-scale equipment at its Mojimoto and Kabete sites scheduled for completion in early fourth-quarter 2026.

The company is transitioning both locations from pilot-scale operations to integrated commercial processing facilities, with major crushing, grinding, gravity separation and leaching equipment already delivered.

Installation and assembly activities are continuing at both sites as Amigo prepares to increase ore processing capacity.

Once commissioned, each facility is expected to process approximately 300 tonnes of ore per day, providing a combined designed capacity of around 600 tonnes daily across the two operations.

The processing circuits are being developed to handle both run-of-mine ore and historical tailings, allowing the company to treat different sources of mineralised material through the same facilities.

According to Amigo, the processing arrangements are also designed to recover gold alongside a concentrate containing platinum group metals.

The potential production of PGM-bearing concentrate forms part of the company’s evaluation of additional metallurgical processing options in Tanzania.

Amigo is assessing the feasibility of using a copper-matte pyrometallurgical process to recover value from the concentrate. Stationary reverberatory and induction furnaces have already been mobilised to support the required metallurgical testing.

The company said any decision to establish a copper-matte processing operation will depend on the results of testing, economic assessments and engineering studies. No commercial production timetable has been confirmed for this potential processing route.

At Mojimoto and Kabete, existing pilot-scale infrastructure is being dismantled to accommodate the higher-capacity processing circuits.

The company is also awaiting final environmental clearances relating to certain chemicals required for its leaching operations. These approvals remain outstanding ahead of the planned commencement of commercial processing.

During the installation and commissioning period, Amigo has temporarily suspended its monthly production and revenue reporting.

The company intends to resume these disclosures once the new processing facilities have been commissioned and commercial operations have stabilised.

The expansion programme is intended to increase processing throughput at both Tanzanian sites while enabling the recovery of gold and PGM-bearing concentrate from run-of-mine material and historical tailings.

Commercial production at the planned capacity remains dependent on completing equipment installation, commissioning activities and the outstanding environmental approval requirements.

About Amigo Resources

Amigo Resources PLC (LSE:AMGO) is a London-listed mining company focused on gold, platinum group metals and rare earth mineral opportunities across Africa. Incorporated in England and Wales, the company is developing its Mojimoto and Kabete operations in Tanzania, where it is installing commercial-scale mineral processing facilities designed to recover gold and PGM-bearing concentrate.

Mendell Helium plc (LSE:MDH) has acquired the remaining 25% interest in the Nilson 22-1 well in Haskell County, Kansas, increasing its ownership to 100% through a share-based transaction valued at approximately US$186,000.

The acquisition consideration consists of 3,094,000 new ordinary shares issued at 4.48 pence per share. Mendell said the transaction was completed without paying a control premium to the minority interest holders.

The Nilson well is located within the Hugoton gas field in south-western Kansas and produces helium, methane and natural gas liquids. The well is connected to an established gas gathering network and the Jayhawk processing plant, allowing production to be processed without requiring on-site gas purification facilities.

According to the company, the well underwent hydraulic fracturing in late 2024, resulting in flow rates exceeding 100 thousand cubic feet (Mcf) per day.

Mendell described Nilson as one of the higher-producing wells in the region following the completion of the stimulation programme.

The company also identified potential opportunities to increase production from the well, although further development will depend partly on its ability to reduce water disposal costs associated with operations.

By acquiring the outstanding minority interest, Mendell will receive the full revenue attributable to Nilson production, rather than its previous 75% share.

The transaction also provides the company with complete ownership of the asset ahead of planned pricing negotiations with its existing off-taker.

Mendell said the negotiations will take place against a backdrop of higher helium and methane market prices. Any changes to future sales arrangements will depend on the outcome of those discussions.

The Nilson acquisition forms part of Mendell’s wider operations in Kansas, where the company holds interests in five producing wells within the Hugoton gas field.

These assets benefit from existing gas gathering and processing infrastructure, enabling the company to generate revenue from multiple gas products without installing dedicated purification equipment at each well.

Mendell also operates helium-focused assets in the Fort Dodge area through its subsidiary M3 Helium, including the Rost 1-26 and Rost 2-26 wells.

Following completion of the Nilson transaction, the company will have full ownership of the well and its associated production revenues, while continuing to evaluate operational improvements and commercial arrangements across its Kansas portfolio.

About Mendell Helium

Mendell Helium plc (LSE:MDH) is a London-listed helium exploration and production company operating primarily in Kansas, United States, through its subsidiary M3 Helium. Its activities include helium extraction and the production of methane and natural gas liquids.

The company’s portfolio includes helium-focused wells in the Fort Dodge area, such as Rost 1-26 and Rost 2-26, alongside interests in producing wells in the Hugoton gas field. Its operations use a combination of on-site gas treatment facilities and established third-party gathering and processing infrastructure.

Eco Buildings Group plc (LSE:ECOB) has provided an update on the development of a new AI-enabled manufacturing line at its operations in Durrës, Albania, confirming that the project remains on schedule and within budget, with commissioning expected by the end of 2026.

The new production line, ordered in June 2026, is being developed to manufacture large glass fibre reinforced gypsum (GFRG) wall panels through an automated process. The investment is intended to increase the company’s manufacturing capacity and support the delivery of prefabricated building systems for larger construction projects.

According to Eco Buildings, the production line will incorporate artificial intelligence-based monitoring systems designed to identify potential equipment faults and operational inefficiencies before they interrupt manufacturing activities.

The company expects these systems to improve production reliability, reduce downtime and support more consistent manufacturing costs as output increases.

Development work is being carried out by engineering, procurement and construction (EPC) contractors under the supervision of Eco Buildings’ technical team based in Albania.

The contractors are using the company’s proprietary manufacturing designs and operational data to support installation and commissioning. Eco Buildings said this approach is intended to establish a production model that can be replicated at additional facilities.

At maximum planned utilisation, the new line is designed to operate for up to 2.5 shifts per day, six days a week. This operating schedule would provide additional manufacturing capacity for the production of GFRG panels used in residential and other construction applications.

The company is seeking to expand its manufacturing operations beyond individual construction projects by developing production infrastructure capable of supporting multiple contracts and larger building programmes.

Management considers the investment part of its strategy to increase manufacturing capacity through automation and standardised production processes.

The additional capacity is intended to support Eco Buildings’ commercial pipeline, although future production volumes and utilisation will depend on the conversion of prospective projects into contracts and their subsequent execution.

Eco Buildings continues to progress the installation of the new line, with commissioning targeted before the end of the year. The company has not announced any change to the project’s budget or planned timetable.

About Eco Buildings Group

Eco Buildings Group plc (LSE:ECOB) is a prefabricated construction materials company specialising in glass fibre reinforced gypsum (GFRG) wall panels. Its manufacturing operations in Albania produce building components for residential and other construction applications, including affordable and higher-end housing. The company uses factory-based production processes and automated manufacturing technology to develop prefabricated building systems.

Capricorn Energy PLC (LSE:CNE) has provided an update on its proposed acquisition by Genel Energy through its Bidco vehicle, confirming that the increased recommended cash offer is progressing towards completion, with one Egyptian regulatory condition remaining outstanding.

The company announced that an updated supplementary letter relating to the revised acquisition terms is being distributed to shareholders and made available online. The document provides further information on the status of the transaction and the remaining steps required before completion.

Capricorn confirmed that the Court of Session has not required any additional shareholder meetings in connection with the Genel transaction. As a result, shareholders are not currently required to undertake any further voting action regarding the proposed acquisition.

The company also reported that the Egyptian Merger Condition has been satisfied, leaving only the remaining Egyptian regulatory condition to be fulfilled.

According to Capricorn, Genel Energy and Bidco, discussions with the Egyptian Government regarding the outstanding requirement have progressed. The parties continue to expect the acquisition scheme to become effective during the fourth quarter of 2026, subject to satisfaction of the remaining condition.

Alongside the progress on the Genel transaction, Capricorn has outlined its intentions regarding the competing takeover proposal from DNO.

The company’s board intends to adjourn indefinitely the court meeting and general meeting associated with the DNO Offer. Capricorn has also reiterated its recommendation that shareholders take no further action in relation to that proposal.

The board continues to support the increased cash acquisition offer from Genel Energy’s Bidco vehicle, which remains the recommended transaction.

The proposed acquisition has therefore progressed beyond the Egyptian Merger Condition, although completion remains dependent on the outstanding regulatory requirement.

Capricorn said the parties are continuing their engagement with the Egyptian authorities as they work towards the anticipated fourth-quarter completion timetable.

About Capricorn Energy

Capricorn Energy PLC (LSE:CNE) is a UK-based oil and gas exploration and production company with operations focused on Egypt and other international assets. The company operates in the upstream energy sector and is listed on the London Stock Exchange. Capricorn is currently the subject of competing acquisition proposals involving Genel Energy and DNO, with its board recommending the increased cash offer from Genel Energy’s Bidco vehicle.

Motorpoint Group PLC (LSE:MOTR) has reported an increase in used-car sales volumes for the six months ended 30 September 2026, with underlying profit before tax expected to rise by 81% year-on-year to approximately £6.5 million.

The UK used-car retailer said retail volumes increased by 7.6% compared with the corresponding period last year, exceeding growth in the wider used-car market. Trading during the period included the opening of a new store in Leeds, expanding the group’s retail network.

Motorpoint attributed part of its performance to continued investment in its technology platform, including artificial intelligence, data analytics and digital systems used across its operations.

According to the company, these capabilities have supported improvements in vehicle pricing, sourcing, customer demand generation and order fulfilment. The group also reported record vehicle sales margins, referred to as metal margins, during the period.

Underlying profit before tax for the first half is expected to reach approximately £6.5 million, representing an 81% increase from the prior-year period.

Motorpoint also expects its return on capital employed (ROCE) for the trailing 12 months to reach approximately 80%, compared with 59% previously. The company operates a capital-light business model, supported by its digital retail platform and physical store network.

The trading update comes against a UK consumer environment characterised by uncertainty, elevated interest rates and inflation, factors identified by the company as part of the wider market backdrop.

Despite these conditions, Motorpoint’s board expects full-year underlying profit before tax to be in line with recently upgraded market consensus.

The company continues to develop its omnichannel retail operations, combining online vehicle sales and financing services with its network of physical sales and collection locations.

Its technology systems are used to manage vehicle sourcing, inventory, pricing and customer transactions, while its wholesale platform provides a channel for selling part-exchange vehicles to trade buyers.

The group said its operational approach remains focused on integrating digital capabilities with its existing retail infrastructure as it continues trading through the second half of its financial year.

About Motorpoint

Motorpoint Group PLC (LSE:MOTR) is a UK-based used-car retailer operating through its Motorpoint.co.uk online platform and a network of 22 sales and collection stores. The company provides vehicle purchasing, selling and financing services through its omnichannel retail model.

The group also operates Auction4Cars.com, an online wholesale marketplace for trade buyers, including the disposal of part-exchange vehicles. Motorpoint uses artificial intelligence, data analytics and digital technology to support vehicle sourcing, pricing, inventory management and retail operations.

Pristine Capital Plc (LSE:PRIS) has announced a proposed solvent restructuring involving a conditional £500,000 investment from RareWorld Limited and the settlement of £486,465 in outstanding creditor claims, as the company seeks to establish a financial and corporate structure capable of supporting a reverse takeover.

The restructuring proposals include the issuance of new ordinary shares and interest-free convertible loan notes to RareWorld Limited and existing creditors. The arrangements are intended to address outstanding liabilities while providing additional funding for the company’s future activities.

As part of the proposed changes to its share capital, Pristine plans to undertake a 100-for-1 share consolidation, introduce deferred shares and adopt new articles of association. These measures are designed to reorganise the company’s existing capital structure ahead of a potential corporate transaction.

Subject to completion of the investment and restructuring, Pristine expects to have approximately £340,000 in cash available. The company also anticipates that its existing creditor liabilities will be settled, apart from obligations associated with the newly issued convertible loan notes.

The proposed arrangements form part of Pristine’s strategy to pursue a reverse takeover involving the acquisition of an operating business. The company currently operates as a cash shell without active trading operations.

The restructuring proposals also provide for changes to the company’s board of directors and a subsequent retail offer intended to raise up to £100,000 in additional capital.

Implementation of the restructuring remains conditional on shareholder approval and the satisfaction of other transaction requirements. The proposed investment, creditor settlement and associated capital changes will therefore depend on the completion of these steps.

Pristine has warned that failure to obtain the necessary approvals or meet the conditions could result in the company entering administration or liquidation. In such circumstances, existing shareholders could receive no return on their investment.

If the proposals are approved and completed, the company intends to use its revised financial position and capital structure to pursue the acquisition of an operating business through a reverse takeover.

About Pristine Capital

Pristine Capital Plc (LSE:PRIS) is a London Main Market-listed cash shell established to pursue corporate acquisition opportunities through a reverse takeover. The company does not currently conduct active trading operations and is focused on securing investment, addressing its existing liabilities and preparing its corporate structure for a potential acquisition.

Airtel Africa (LSE:AAF) has confirmed that its mobile money subsidiary, Airtel Mobile Commerce N.V. (Airtel Money), has published the final details of its initial public offering (IPO) on the London Stock Exchange, following the earlier announcement of the offer price.

Conditional dealings in Airtel Money shares are scheduled to begin on 9 October 2026, with full admission to trading expected on 14 October 2026.

The listing will establish Airtel Money as a separately traded company, allowing investors to hold shares directly in the mobile financial services business.

Airtel Africa confirmed that it will not sell any of its existing shares in Airtel Money as part of the IPO. The telecommunications group intends to retain its investment and remain a long-term strategic shareholder following the listing.

According to the company, this ownership arrangement will allow Airtel Africa to maintain its involvement in Airtel Money while the subsidiary operates as an independently listed business.

The transaction separates Airtel Money’s public market listing from that of its parent company, while preserving Airtel Africa’s existing shareholding in the mobile money operation.

Airtel Money provides mobile financial services across African markets, forming part of Airtel Africa’s wider telecommunications and digital services activities.

The IPO represents a change in Airtel Money’s corporate structure, with the subsidiary gaining a separate stock market listing while continuing its relationship with Airtel Africa.

Following the commencement of conditional dealings on 9 October, the company expects the shares to be fully admitted to trading on 14 October, subject to completion of the listing process.

About Airtel Africa

Airtel Africa plc (LSE:AAF) is a telecommunications and mobile financial services provider operating in 14 countries across sub-Saharan Africa. The group offers mobile voice, data and financial services to individual and business customers. Its operations include Airtel Money, which provides mobile payment and related financial services across its African markets.

Caledonia Mining Corporation Plc (LSE:CMCL) has revised its 2026 gold production and cost guidance following a decline in third-quarter output at its Blanket Mine in Zimbabwe, citing operational constraints affecting underground mining and gold processing activities.

Gold production at Blanket totalled 17,030 ounces during the third quarter of 2026, compared with 19,106 ounces in the corresponding period last year. Production for the first nine months of the year reached 49,158 ounces.

The company attributed the lower output to compressed air shortages affecting deeper, higher-grade mining areas, alongside commissioning issues within the gravity gold recovery circuit. These processing difficulties resulted in approximately 1,100 ounces of gold being temporarily retained within the plant.

Following the production shortfall, Caledonia reduced its full-year 2026 gold production guidance to between 69,000 and 72,500 ounces.

The company also increased its cost expectations for the year, with on-mine costs now forecast at US$1,700 to US$1,900 per ounce. All-in sustaining costs (AISC) are expected to range from US$2,650 to US$2,850 per ounce.

According to management, the revised cost estimates reflect lower anticipated production volumes and expenditure associated with ongoing operational improvements at Blanket.

Caledonia said it is implementing measures intended to address the production constraints, including the installation of additional compressors and increased elution capacity. The company also plans to process accumulated ore and carbon containing previously unrecovered gold.

Management expects these measures to contribute to higher gold production during the fourth quarter and support more consistent operations in 2027.

Alongside the revised operating guidance, Caledonia has reduced its planned group capital expenditure for 2026 to US$94.3 million.

The revised investment programme includes deferring certain expenditure on the proposed 132kV power line and lowering planned spending at both Blanket and the Bilboes development project. The company said these adjustments do not change the scope of the affected projects.

Caledonia also stated that it expects internally generated cash flow to remain sufficient to support the development of Bilboes, which forms part of its longer-term production plans.

The company continues to pursue operational improvements at Blanket while progressing its development activities at Bilboes and exploration work at Motapa.

About Caledonia Mining

Caledonia Mining Corporation Plc (LSE:CMCL) is a gold mining company operating the Blanket Mine in Zimbabwe. The company is listed on NYSE American, London’s AIM market and the Victoria Falls Stock Exchange. Its activities include underground gold mining, mineral processing and exploration, alongside development projects such as Bilboes and Motapa in Zimbabwe.

DCC Energy (LSE:DCC) has entered into an agreement to sell its technology division, Nexora, to funds managed and advised by One Equity Partners for an enterprise value of US$725 million, on a cash-free, debt-free basis.

The transaction remains subject to customary regulatory approvals, with completion expected on or after 1 March 2027. The disposal forms part of the arrangements surrounding the recommended acquisition of DCC Energy by Dragon Bidco Limited.

Under the proposed takeover, DCC shareholders are entitled to receive 6,525 pence per share, alongside potential additional cash consideration of up to 125 pence per share linked to the net proceeds generated by the Nexora disposal.

Based on current estimates, the Technology Disposal Net Proceeds are expected to total approximately US$701 million. This would correspond to additional consideration of around 42 pence per share, although the final payment will depend on the proceeds received and the completion of the transaction.

The additional consideration could be reduced to zero if the relevant conditions are not satisfied by 31 July 2027.

The sale will transfer Nexora to private equity ownership, while the proceeds will determine the amount of any supplementary payment available to DCC shareholders under the Dragon Bidco acquisition terms.

The recommended takeover is backed by Energy Capital Partners and KKR. Completion of the Nexora disposal remains subject to the outstanding regulatory requirements and the agreed transaction timetable.

About DCC Energy

DCC Energy (LSE:DCC) operates in energy distribution and related services. Its technology division, Nexora, provides digital solutions associated with energy-related activities. The company is currently the subject of a recommended acquisition by Dragon Bidco Limited, backed by Energy Capital Partners and KKR.