Category: Market News

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.

Grainger plc (LSE:GRI), the UK-listed residential landlord and Build to Rent (BTR) operator, has announced that construction has reached the topping-out stage at Alloy Apartments, its second residential rental development at The Mint in Guildford.

The approximately £75 million project will provide 179 rental homes and forms part of Grainger’s committed development pipeline. Practical completion remains scheduled for early 2028, with the properties expected to become available to renters in mid-2028.

The development was originally announced in 2024 and represents the second phase of Grainger’s investment at the Guildford Station site.

Guildford Developments Represent More Than £116 Million of Investment

Alloy Apartments follows Assay Apartments, the first phase of The Mint development.

Together, the two schemes will provide 277 rental homes, representing combined investment of more than £116 million in Guildford.

Grainger reported that Assay Apartments ended its 2026 financial year fully occupied, with rental growth of 3.6% over the period.

The company cited the occupancy and rental performance of the existing development as supporting its assessment of demand for rental accommodation in Guildford.

Development Pipeline Linked to FY29 Earnings Target

Alloy Apartments is one of three developments currently under construction within Grainger’s committed development pipeline.

The company expects its development programme to contribute towards its target of 35% earnings growth by FY29.

The Guildford project remains on its previously announced construction timetable, with practical completion anticipated in early 2028 before the planned residential launch later that year.

Project Forms Part of £150 Million Guildford Station Regeneration

Alloy Apartments is located adjacent to Guildford Station and forms part of a wider £150 million regeneration programme for the surrounding station quarter.

The development is being delivered in partnership with Solum, a joint venture involving Platform4, Network Rail’s property development company, and Kier Property.

Construction work is being carried out by JJ Rhatigan.

The project involves the redevelopment of land near the railway station to provide additional residential accommodation as part of the broader regeneration programme.

Grainger said the scheme is consistent with its strategy of developing rental properties in locations with public transport connections and established rental demand.

Management and Development Partners Comment

Dame Helen Gordon, Chief Executive of Grainger, commented:

“We are delighted to celebrate the topping out of our second Build to Rent scheme at Guildford Station alongside our partners Network Rail, Platform4, Solum and Kier Property.

“Reaching this milestone is a testament to the strength of our partnerships and the progress being made in delivering much-needed new homes in well-connected locations. As we continue to progress our committed development programme, Guildford is a great example of how public and private sector organisations can work together to unlock under-utilised land, support regeneration and deliver high-quality homes where people want to live.”

Alan Peelo, Chief Financial Officer at Platform4, said:

“Our purpose is to turn ambition into reality – to help create places and see them take shape. Reaching this milestone reflects years of dedication, hard work and commitment. Ultimately, partnerships are judged by what they deliver, and this development is a great example of what can be achieved when we work together.”

Leigh Thomas, Group Managing Director of Kier Property and Head of Solum, added:

“Reaching the topping-out milestone is a proud moment for everyone involved. Through our partnership with Grainger, Network Rail and Platform4, we’re helping to bring 179 new rental homes to Guildford and make better use of land around the station. The development is an important part of the wider station-quarter regeneration, creating a well-connected place to live and supporting Guildford’s continued growth.”

More About Grainger PLC

Grainger plc is a UK-listed residential landlord operating in the Build to Rent sector.

The company invests in and manages residential rental properties, with a development programme focused on locations with established rental demand and transport connections.

Its Guildford investments include Assay Apartments and Alloy Apartments at The Mint, which together are expected to provide 277 rental homes.

Aterian plc (LSE:ATN), the Africa-focused critical minerals exploration, development and trading company, announced that its Rwanda-based subsidiary, Eastinco Limited, exported 20 metric tonnes of mineral material during October 2026 and agreed a tantalum concentrate sale valued at approximately US$1.8 million.

The company also confirmed that Eastinco’s new mineral handling and processing facility in Kigali is operational, supporting the subsidiary’s trading activities and development of its supplier and customer networks.

Eastinco Agrees $1.8 Million Tantalum Concentrate Sale

Eastinco has entered into an agreement to sell 10 metric tonnes of tantalum-bearing concentrate to an investor based in a G7 country.

The transaction has an approximate value of US$1.8 million and adds another international customer to Eastinco’s trading network.

Aterian clarified that the stated transaction value represents the agreed sale amount rather than the profit expected from the transaction.

The agreement forms part of Eastinco’s efforts to develop commercial relationships with international buyers of tantalum-bearing materials.

October Export Volumes Reach 20 Metric Tonnes

Eastinco recorded export volumes of 20 metric tonnes in October 2026 as it continued developing its mineral trading operations in Rwanda.

The subsidiary’s newly operational facility in Kigali provides infrastructure for mineral handling and processing activities, alongside the management of material sourced from local suppliers.

Aterian said Eastinco is establishing relationships with additional Rwandan mines to expand its potential supply base for tantalum- and tungsten-bearing materials.

The company intends to develop these relationships into recurring deliveries, subject to satisfactory supplier due diligence, traceability requirements, material specifications and agreed commercial terms.

Management is also working to establish more consistent trading volumes and margins as Eastinco expands its supplier and buyer relationships.

Supplier Due Diligence and Mineral Traceability

Aterian said Eastinco’s mineral sourcing procedures are structured around supply-chain due diligence standards aligned with Organisation for Economic Co-operation and Development (OECD) guidance.

The framework includes assessments of trading counterparties and beneficial ownership, verification of relevant mining and trading permissions, and reviews of mine-site information and production records.

Eastinco also maintains documentation intended to establish the origin and movement of purchased mineral material.

Its chain-of-custody procedures include lot identification, weighing, sampling, assay records and transport documentation.

According to Aterian, these controls are designed to provide international customers with information about mineral provenance, sourcing practices and product specifications.

The company considers these procedures part of its approach to developing additional international trading relationships.

Executive Chairman Comments on Trading Development

Charles Bray, Executive Chairman of Aterian plc, commented:

“Eastinco is beginning to deliver the performance we have been working towards. Export volumes reached 20 tonnes in October, our new Kigali facility is operational, and we are building relationships with additional Rwandan mines to support new supply. These are tangible steps towards a more consistent trading business.

Our priority is to convert this progress into repeatable volumes with consistent margin capture and disciplined commercial execution. Our exports demonstrate the breadth of potential demand for physical tantalum and reinforce the importance of the compliance and traceability capabilities we are building. We see a significant opportunity to connect responsibly sourced African critical minerals with international customers.”

More About Aterian PLC

Aterian plc is an Africa-focused company involved in critical minerals exploration, development and trading.

Through its Rwanda-based subsidiary Eastinco Limited, the company is developing mineral sourcing, handling, processing and trading activities involving materials including tantalum and tungsten.

Eastinco’s operations include the development of relationships with Rwandan mineral producers and international customers, supported by supply-chain due diligence and traceability procedures.

Victoria PLC (LSE:VCP), the international flooring manufacturer and distributor, reported approximately 5% organic revenue growth for the six months ended 30 September 2026, compared with the corresponding period a year earlier, while higher input costs and the relocation of Balta’s manufacturing operations affected profitability.

Excluding Balta, organic revenue growth reached approximately 7% during the first half of the company’s 2027 financial year. Victoria said it continued to gain market share across its UK, North American and Australian operations despite pressures affecting its end markets.

EBITDA Performance Reflects Balta Production Relocation

Victoria expects first-half EBITDA, excluding Balta, to be slightly above the corresponding period of FY26 and approximately 45% higher than the second half of FY26.

However, the relocation of Balta’s production facilities to Turkey temporarily affected divisional profitability, with EBITDA from the business falling £3.8 million below the prior-year period.

The company confirmed that the operational transition has been completed and manufacturing volumes are increasing in line with its planned production schedule.

Balta currently has €34 million in backorders supporting the production ramp-up. Victoria expects the division to reach its targeted manufacturing volumes during the fourth quarter, with the full annualised financial benefit of the relocation project anticipated before the beginning of FY28.

Rising Energy and Raw Material Costs Affect Trading

Victoria reported increases in oil- and gas-related input prices over recent months, adding to manufacturing costs across the business.

The company said pricing adjustments and cost-reduction measures are helping offset these increases, although the Board acknowledged that persistently higher input prices could have a negative impact on profitability.

Management intends to provide further financial guidance when the Group publishes its half-year results.

Asset Disposals Target £70 Million in FY27 Proceeds

Victoria continues to prioritise liquidity management and remains focused on its programme of surplus and non-core asset disposals.

The Group is targeting total net proceeds of £70 million from these transactions during FY27, with approximately £26 million generated to date.

This leaves around £44 million of additional net proceeds required to meet the company’s full-year disposal target.

Refinancing Transaction Expected to Complete in December

Alongside its trading update, Victoria announced the launch of a Consent Solicitation connected with its previously disclosed comprehensive refinancing transaction.

The company reported that more than 90% of its Senior Secured Noteholders have already agreed to support the proposed refinancing, exceeding the approval threshold required for the Consent Solicitation.

Victoria said the refinancing process remains on its anticipated timetable, with completion expected on or around 10 December 2026.

Executive Chairman Comments on Operational Performance

Geoff Wilding, Executive Chairman of Victoria, said:

“Operational progress has been strong this year with sales initiatives growing market share, improved factory productivity, and lower overhead costs. It is frustrating that the sharp rise in energy and raw material costs are masking much of the improvement, but we are focussed on securing price increases and additional efficiencies to compensate, and I am confident in the direction of travel.”

More About Victoria PLC

Victoria PLC is an international designer, manufacturer and distributor of flooring products, with operations across markets including the UK, North America and Australia.

The Group’s current operational priorities include completing the production ramp-up at Balta’s relocated manufacturing facilities, managing energy and raw material costs, executing planned asset disposals and completing its refinancing transaction.

IXICO plc (LSE:IXI), a provider of neuroscience imaging and biomarker analytics services, announced on Monday, 2 November 2026, that it has secured a £2.7 million contract to support a global Phase 3 clinical trial in Huntington’s disease (HD).

The agreement, awarded by an international biotechnology company, is expected to generate £2.7 million in revenue for IXICO over a six-year period.

Second Phase 3 Huntington’s Disease Contract in 12 Months

The latest agreement represents IXICO’s second Phase 3 Huntington’s disease contract award within the past 12 months, adding to its involvement in late-stage clinical development programmes targeting the neurological condition.

IXICO provides imaging and biomarker analytics services through an AI-driven technology platform, supporting biotechnology and pharmaceutical companies conducting clinical trials for neurological disorders.

The company said the latest award comes as additional Huntington’s disease treatments progress through late-stage clinical development, with some potentially advancing towards regulatory approval.

Contract Adds to Recent Alzheimer’s Disease Awards

The announcement follows two contract wins in Alzheimer’s disease reported by IXICO in late October 2026.

According to the company, the latest Huntington’s disease agreement contributes to the expansion of its order book and increases the proportion of contracted work associated with later-stage clinical trials.

The six-year contract duration also provides a source of expected revenue extending across multiple financial periods.

Management Comments on Contract Award

Bram Goorden, CEO of IXICO, commented:

“We are proud to be working at the cutting edge of innovative therapies, helping biopharmaceutical companies advance potentially transformative treatments for patients and families affected by Huntington’s disease. This contract is another strong endorsement of IXICO’s leading position in the neurodegenerative disease field. It also demonstrates our continued progress in strengthening our order book through an increasing contribution from later-stage clinical trials, providing long-term revenue visibility and supporting our growth ambitions.”

More About IXICO

IXICO provides neuroscience imaging and biomarker analytics services to support drug development and diagnostics for neurological disorders. The company uses an AI-driven platform to assist biotechnology and pharmaceutical organisations with clinical research, including studies involving Huntington’s disease and Alzheimer’s disease.