Author: Fiona Craig

First Class Metals (LSE:FCM) has reported a gold assay of 32,100 grams per tonne from a grab sample collected at its Sunbeam Gold Property in Ontario, Canada.

The sample, which contained visible gold, was taken from an outcrop approximately 1.1 kilometres northeast along strike from the historic Roy shafts. The result extends the area in which high-grade gold occurrences have been identified along the Roy trend.

Laboratory analysis in Thunder Bay returned a certified gravimetric assay of 32,100 parts per million gold, equivalent to 32,100 g/t and approximately 100 ounces per tonne. The laboratory result followed initial fire assay and handheld XRF indications.

First Class Metals cautioned that the result was obtained from a small grab sample and should not be considered representative of the wider mineralisation at the property.

Follow-Up Exploration Underway

The visible gold was identified in quartz hosted within altered and locally sheared tonalite. The company said these characteristics are consistent with mineralisation previously observed in drill core from the Roy area.

Galena was also associated with the occurrence. First Class Metals is assessing the relationship between gold and lead mineralisation as part of its exploration model for the property.

The discovery followed prospecting based on a model incorporating soil geochemistry, LiDAR structural interpretation, structural geology and historical exploration information.

First Class Metals said follow-up prospecting around the newly identified zone is underway, with additional assay results pending.

The company is also assessing other structural intersections across the Sunbeam property, including areas along the Pettigrew and Sunbeam trends where gold and lead anomalies have previously been identified.

About First Class Metals

First Class Metals is a UK-listed mineral exploration company focused on projects in Ontario, Canada.

Its portfolio includes the Sunbeam Gold Property, where exploration work incorporates geological mapping, soil geochemistry, LiDAR interpretation, structural analysis and historical exploration data. The company works with Emerald Geological Services on its exploration programmes.

Alien Metals (LSE:UFO) has consolidated four granted exploration licences at its Georgina Basin project in Australia’s Northern Territory into two licences, EL34498 and EL34499.

The company said the revised structure retains the same overall ground coverage while simplifying administration and reducing costs associated with managing the tenements.

Alien Metals said the consolidation is also intended to simplify exploration planning across contiguous targets and could assist with future land-access arrangements and potential joint-venture discussions.

Separately, the company has held its first meeting with Traditional Owners through the Central Land Council regarding exploration licence applications EL32284 and EL32965.

The applications cover Aboriginal freehold land, and access and exploration agreements with Traditional Owners are required before the licences can be granted. Discussions are continuing as Alien Metals works through the application process.

Geological Review Supports Exploration Planning

Project Director Matt Healy has also reviewed historical drill core from the NDIBK10 and CWDD004 holes at the Northern Territory core library.

The company is using the historical drilling information to develop its geological interpretation of areas close to its existing tenure and assist with ranking exploration targets across the project.

Alien Metals is preparing for its next phase of exploration at Georgina Basin and also plans to submit an application to the BHP Xplor funding programme.

About Alien Metals

Alien Metals is a minerals exploration and development company focused on projects in Australia, including iron-oxide copper-gold targets in the Northern Territory’s Georgina Basin.

The company’s Georgina Basin holdings comprise granted exploration licences alongside applications covering Aboriginal freehold land. Its activities include geological assessment, exploration targeting, tenure management and engagement with Traditional Owners.

Netcall (LSE:NET) reported revenue of £57.7 million for the year ended 30 June 2026, an increase of 20% from the previous year, supported by growth in its cloud services business.

Cloud services revenue increased 37% to £40.1 million, while recurring revenue represented 83% of total revenue. Cloud annual contract value (ACV) also rose 37% to £46.3 million.

Adjusted EBITDA increased 23% to £12.1 million. Statutory profit before tax, however, declined 31% to £3.5 million.

Netcall increased its final dividend by 17%. The company ended the period without debt and reported continued cash generation during the year.

AI Products Feature in More Than 40% of New Cloud Orders

Netcall reported a cloud net retention rate of 115%, with revenue growth coming from both new and existing customers.

Sales of products incorporating artificial intelligence capabilities nearly tripled during the year, according to the company. AI-related products featured in more than 40% of new cloud orders.

Netcall also completed the integration of Jadu during the period, with the company reporting cost savings from the integration and an expanded position in the local government market.

The contracted revenue order book stood at £98.6 million at the end of the period, including £51.0 million expected to be recognised within the following 12 months.

Netcall also reported a record sales pipeline, which management cited alongside the order book in expressing confidence in continued growth across its cloud and AI-related products.

About Netcall

Netcall is a UK enterprise software company providing automation and customer engagement technology through its Liberty platform.

The company serves approximately 700 organisations across sectors including healthcare, government and financial services. Its customer base includes around two-thirds of NHS Acute Health Trusts and approximately half of UK local authorities.

Galliford Try (LSE:GFRD) has been appointed to the University of Oxford’s Oxford Inspire construction framework, which has a potential value of up to £1.6 billion over eight years.

The construction group has secured a place on Lot 2 of the framework, covering projects valued at more than £15 million.

The framework will be used for construction work across the University of Oxford’s estate, including large-scale new-build developments and refurbishment projects.

Galliford Try’s appointment provides the company with the opportunity to compete for individual projects awarded through the framework. The information provided does not specify the value of work that will ultimately be awarded to the company.

The appointment adds to Galliford Try’s activities in the UK education sector, where it delivers construction projects for public and institutional clients.

About Galliford Try

Galliford Try Holdings is a UK construction group listed on the London Stock Exchange and a constituent of the FTSE 250.

Operating under the Galliford Try and Morrison Construction brands, the group delivers building and infrastructure projects for public, private and regulated-sector clients across the UK.

European Green Transition plc (LSE:EGT) has received High Court approval for a reduction of its share premium account, a measure intended to create distributable reserves for potential future shareholder distributions.

The capital reduction will become effective once the court order and accompanying statement of capital have been registered with the UK companies registrar.

The transaction will not change the number of European Green Transition shares in issue.

Once effective, the reduction will create distributable reserves that could provide the company with the ability to pay dividends or make other distributions to shareholders in the future. European Green Transition cautioned, however, that there is no guarantee that any such distributions will be made.

The company is pursuing a buy-and-build strategy focused on critical infrastructure services in the UK and Ireland. Its activities include operations, maintenance, repairs and remote monitoring for onshore wind turbines.

European Green Transition is also seeking to dispose of or partner non-core mining projects as it focuses capital on its critical infrastructure operations.

About European Green Transition

European Green Transition is an AIM-listed critical infrastructure company focused on acquiring, integrating and scaling revenue-generating businesses in the UK and Ireland.

Its wind services platform comprises Earthmill, WEP Wind Energy Partnership, Silverford Engineering and Anemos Analytics, providing services covering more than 900 onshore wind turbines.

The company also holds mining assets, including the Olserum rare earths project in Sweden, which it is seeking to sell or develop through partnerships.

Helix Exploration PLC (LSE:HEX) has completed drilling of the Ollie #1 well at its Rudyard helium project in Montana, reporting the highest mudlog helium readings recorded at the project to date.

The company said the well was completed ahead of schedule and below budget as part of its programme to expand production capacity at Rudyard.

Helix plans to perforate and test Ollie #1 to assess flow rates and gas composition. Subject to satisfactory results from that work, the company intends to connect the well to its existing Rudyard infrastructure.

The company is also progressing with the drilling of the Ross #1 well as part of the same expansion programme.

Helix operates across helium drilling, production, processing and liquefaction. In addition to Rudyard, the company owns the Keyes Helium Complex in Oklahoma, which provides helium liquefaction capacity.

Rudyard began production in 2026, although output is currently subject to a regulatory pause in Montana.

About Helix Exploration

Helix Exploration is a US-focused helium producer and liquefier with operations covering drilling, production, processing and liquefaction.

Its assets include the Rudyard helium project in Montana and the Keyes Helium Complex in Oklahoma. The company also owns an in-house drilling rig and is pursuing additional drilling at Rudyard alongside processing capacity and third-party liquefaction services.

Bridgepoint Group plc (LSE:BPT) has raised its 2026 EBITDA guidance and updated its medium-term expectations for performance-related earnings following investment returns from ECP V and a higher valuation for ProEnergy.

The private markets investment firm now expects performance-related earnings (PRE) to account for 37% to 39% of total income in 2026. Over the medium term, PRE is expected to represent between 25% and 30% of total income.

Bridgepoint expects its EBITDA margin to be approximately 60% in both 2026 and 2027. The company also forecasts management fee growth of between 13% and 16% on a rolling three-year basis.

Operating expenses are expected to increase at a high-single-digit rate in 2026 before growth moderates to a mid-single-digit rate from 2027.

Fundraising Target Reached Ahead of Schedule

Bridgepoint said it achieved its €28 billion fundraising target for the 2024-2026 cycle one quarter ahead of schedule.

Fundraising during the period has included Bridgepoint Direct Lending IV and ECP VI, alongside progress with Bridgepoint Europe VIII.

The group is also expanding its private markets platform through the planned acquisition of Kayne Anderson Real Estate. Its activities currently span private equity, direct lending, and energy and infrastructure strategies in Europe and North America.

Bridgepoint Sets New Capital Return Framework

Bridgepoint has also announced a revised shareholder distribution framework alongside a rebasing of its 2026 dividend.

From 2027, dividends will be paid quarterly. The company is targeting total shareholder distributions equivalent to 40% to 60% of Cash from Profits under the new framework.

Bridgepoint expects cash receipts from carried interest and co-investments to total approximately £2.4 billion over the next five years.

The company said it intends to maintain net leverage below two times while retaining capacity for investment in growth initiatives and mergers and acquisitions.

From its 2026 results, Bridgepoint will begin reporting a new Cash from Profits measure. The metric will comprise operating cash generated from fee-related earnings together with carried interest and co-investment receipts, after interest, lease and tax payments.

About Bridgepoint Group

Bridgepoint Group is a listed private markets investment firm operating across private equity, direct lending, and energy and infrastructure strategies, primarily in Europe and North America.

Its investment products include the Bridgepoint Europe, Bridgepoint Direct Lending and Energy Capital Partners fund families. The group generates income from management fees and performance-related earnings, including carried interest and co-investments.

Bridgepoint is also expanding into real estate through its planned acquisition of Kayne Anderson Real Estate.