Category: Market News

Orosur Mining (LSE:OMI) has released unaudited results for the second quarter ended 30 November 2025, outlining continued operational progress across its Colombian and Argentine gold assets alongside a materially improved cash position following a successful fundraise.

Operational and financial highlights

In Colombia, the company continued infill drilling at the Pepas gold prospect as it works toward delivering an updated NI 43-101–compliant mineral resource estimate. At the nearby El Cedro prospect, soil geochemistry results returned encouraging signatures consistent with a large, zoned gold-bearing porphyry system, with exploration also identifying a second porphyry-style target along the same structural trend. Together, these results support the broader potential of the Anzá project area.

In Argentina, Orosur earned a 51% interest in Deseado Dorado S.A.S., which holds the El Pantano licences in Santa Cruz province. The company has now advanced into the second stage of its joint venture, with a 3,000-metre drilling programme currently under way. Elsewhere in the portfolio, Orosur has made a strategic decision to withdraw from its Nigerian lithium project, which had been fully impaired, allowing management to focus capital and effort on core gold assets.

Financially, the quarter was marked by an oversubscribed C$20 million equity placing, which lifted cash balances to US$16.3 million at period end. The company reported a net loss of US$4.6 million, driven largely by non-cash factors including warrant revaluation, as well as higher exploration spend and share-based payment expenses. The strengthened balance sheet provides increased flexibility to advance exploration programmes across its priority projects.

More about Orosur Mining

Orosur Mining Inc. is a gold-focused exploration and development company listed on AIM and the TSX Venture Exchange. Its core activities are centred on Colombia and Argentina, where it is advancing the Anzá project — including the Pepas and El Cedro prospects — and holds a majority interest in the El Pantano exploration licences in Argentina’s Santa Cruz province. The company has exited earlier ventures in Uruguay, Chile and Nigeria to concentrate on building value from its primary gold assets.

Georgina Energy plc (LSE:GEX) has secured confirmation that Harlequin Energy Ltd will fully fund drilling and development activities at the Hussar EP513 prospect in Western Australia under a non-dilutive structured offtake financing arrangement. The package includes complete funding for the Hussar 2 exploration well, associated site infrastructure, and a US$25 million offtake facility, allowing the project to advance without issuing new equity.

Operational and financial highlights

Under the agreement, Harlequin has appointed Schlumberger Oilfield UK Limited to work alongside Georgina’s drilling consultant, Aztech Well Construction, on the planning and execution of the Hussar 2 well. The drilling programme is expected to run for around 50 days and is scheduled to take place during 2026.

Georgina has also reported a material upgrade to the project’s potential, with revised prospective recoverable resources at Hussar increasing by 30%. Updated estimates now stand at 283 BCF of helium, 315 BCF of hydrogen and 2.9 TCF of hydrocarbons. The uplift strengthens the strategic importance of Hussar within the company’s broader portfolio, alongside the Mt Winter prospect and recently acquired assets, as Georgina seeks to establish itself as a meaningful participant in helium, hydrogen and natural gas markets while avoiding shareholder dilution.

Despite the positive funding and resource developments, the investment outlook remains constrained by weak financial fundamentals. The company is pre-revenue, with widening losses, accelerating cash burn and negative equity, while share price technicals remain bearish, with the stock trading below key moving averages and showing negative momentum. Corporate progress around approvals, offtake arrangements and financing provides some counterbalance, but does not yet fully offset the financial and market risks.

More about Georgina Energy

Georgina Energy plc is an energy exploration and development company focused on building a position in helium and hydrogen production, alongside natural gas. Through its wholly owned Australian subsidiary, Westmarket O&G, the company holds a 100% working interest in the onshore Hussar prospect in Western Australia (EP513) and, subject to completion, the Mt Winter prospect in the Northern Territory (EPA155). Its strategy is aimed at capitalising on tightening global supply-demand dynamics in helium and hydrogen markets.

Thor Explorations (LSE:THX) has published a positive pre-feasibility study for its 100%-owned Douta Gold Project in Senegal, outlining a long-life open-pit operation with forecast production of around 1 million ounces of gold over a 12.6-year mine life. The development plan is underpinned by a probable reserve of 1.2 million ounces and an indicated resource base of 1.7 million ounces.

Operational and financial highlights

The study highlights strong project economics, generating a post-tax NPV (5%) of US$633 million and an internal rate of return of 61% using a gold price assumption of US$3,500 per ounce. Initial capital expenditure is estimated at a relatively modest US$254 million, with rapid capital recovery expected in under 12 months, driven by high-margin oxide ore production in the early years. Sensitivity analysis indicates substantial leverage to prevailing gold prices, providing meaningful upside potential.

Key project milestones are already in place, including approval of the environmental and social impact assessment. Thor has also entered into a binding agreement to acquire the remaining 30% interest in the Douta West permit, consolidating full ownership across the broader project area. Ongoing drilling of approximately 40,000 metres is aimed at further expanding resources and testing district-scale potential along the mineralised trend. Importantly, the company reports it has sufficient cash resources to fund construction without the need for equity dilution, with first gold production targeted for early 2028. Collectively, these factors position Thor to evolve into a multi-asset gold producer with a strengthened growth profile in West Africa.

More about Thor Explorations

Thor Explorations is a West Africa–focused gold exploration and mining company listed on the TSX Venture Exchange and AIM. The group already has producing assets in Nigeria and is pursuing a growth strategy centred on building a diversified, multi-asset gold portfolio across the region. Its activities span exploration, development and production, with the Douta Gold Project in Senegal representing a cornerstone growth asset supported by active drilling programmes and strategic permit consolidation.

Venture Life Group (LSE:VLG) has reported a strong trading performance for the twelve months ended 31 December 2025, with revenue from continuing operations increasing by 32% to £35.1 million, equivalent to 11.1% growth on a proforma basis. The uplift was largely driven by higher volumes and continued momentum across the group’s Power Brands portfolio.

Operational and financial highlights

UK sales rose sharply, up 20.7% to £25.7 million, supported by increased advertising and promotional spend. Performance was led by Balance Activ and Earol, while the Health & Her/Him brands delivered a 44% proforma increase, reflecting growing consumer traction. International revenues declined by 8.7%, mainly due to order phasing and temporary disruption with a distributor, an issue the company says has since been resolved.

During the period, Venture Life completed its strategic transition to a pure-play branded consumer healthcare business following the disposal of its CDMO activities. The group is now integrating international management into its UK commercial team, with the aim of building deeper, more strategic global partnerships. It is also stepping up investment in new product development, working alongside Healthea Group, and rolling out a Microsoft Dynamics 365 ERP system to underpin a more data-driven and digital-led operating model.

The balance sheet remains robust, with net cash of £34.4 million at year-end. This financial strength supports an ongoing share buyback programme and provides capacity for selective, earnings-enhancing acquisitions. Management highlighted an active M&A pipeline focused on women’s and men’s health, energy management and hormonal health. The board reiterated confidence in delivering revenue and adjusted EBITDA expectations for the extended 17-month reporting period ending 31 May 2026.

From a market perspective, Venture Life’s outlook is underpinned by supportive technical indicators and positive corporate actions, including share buybacks and insider buying. These factors signal confidence in the company’s strategy, although valuation concerns remain due to a high price-to-earnings ratio and ongoing profitability challenges.

More about Venture Life Group

Venture Life Group is a UK-headquartered international consumer self-care company focused on the development and commercialisation of over-the-counter healthcare products. Its portfolio includes Balance Activ in women’s intimate healthcare, ENT care spray Earol, Lift and Glucogel for energy and glucose management, and the Health & Her range supporting the hormonal lifecycle. Products are sold through pharmacies, health and beauty retailers, grocery channels and e-commerce platforms, both directly in core markets and via international distribution partners.

Concurrent Technologies (LSE:CNC) has unveiled Kratos (32 Core), a new 32-core CPU board that delivers up to 60% higher processing performance than the original 20-core Kratos product launched in 2025. The latest board is aimed at mission-critical C4ISR applications, offering high performance density in a compact form factor that can replace significantly larger rack-mounted server systems.

Operational and financial highlights

Built to the widely used VPX defence standard, the Kratos (32 Core) board is positioned as a flagship offering within Concurrent’s rugged embedded computing portfolio. The company notes that there are currently no direct competitors using the same processors in this architectural format, giving the product a clear differentiation advantage. By combining maximum computing power with a 3U single-board design, the new Kratos is expected to materially expand Concurrent’s addressable market within defence and security applications. Early engagement from customers seeking top-end performance in space-constrained environments has already been reported, reinforcing the product’s commercial potential and the company’s first-to-market credentials.

From a broader investment perspective, Concurrent Technologies’ outlook is underpinned by strong underlying financial performance, including solid revenue growth and healthy cash generation. However, market technicals point to bearish momentum in the shares, while valuation appears stretched on a high price-to-earnings multiple. Recent corporate developments present a mixed picture, with optimism around defence contract momentum offset by some negative sentiment following a CEO share sale.

More about Concurrent Technologies

Concurrent Technologies Plc is a UK-based designer and manufacturer of high-performance embedded computing products, including plug-in cards, computer systems and mission-critical solutions. The company specialises in Intel-based processor boards designed for long life-cycle and high-reliability applications across defence, telecommunications, security, aerospace, scientific and industrial markets worldwide. Its products are engineered to operate in harsh environments and comply with industry standards while supporting leading embedded operating systems.

Oriole Resources (LSE:ORR) has reported additional encouraging gold intercepts from its maiden 2,950-metre diamond drilling programme at the MB01-N prospect within the Mbe project in Cameroon. Highlights include an interval of 16.10 metres grading 2.49 g/t gold from drill hole MBDD027, which also intersected the deepest mineralisation recorded at the target so far. The results confirm continuity of the mineralised structure along strike and to a vertical depth of at least 160 metres.

Operational and financial highlights

The drilling campaign is fully funded and now approximately 70% complete, with more than 2,000 metres drilled to date. Oriole expects to complete the programme later in the first quarter of 2026, after which it plans to commission a maiden JORC-compliant Resource estimate for MB01-N. A defined resource at this target would sit alongside the existing MB01-S resource and could materially enhance the overall scale of the Mbe project, potentially increasing its appeal to both investors and potential industry partners.

From an investment perspective, the outlook continues to be weighed down by the absence of revenue and ongoing cash burn, despite the company maintaining a relatively strong, low-debt balance sheet. Technical indicators are moderately supportive, but valuation remains constrained by negative earnings and the lack of dividend yield.

More about Oriole Resources

Oriole Resources PLC is an AIM-quoted gold exploration company focused on West and Central Africa. Its core strategy is centred on the discovery and delineation of gold resources, with its flagship asset being the Mbe gold project in Cameroon, where it holds a 90% interest. The project already hosts the MB01-S deposit, which carries a JORC Inferred Resource of 870,000 ounces of gold, providing a solid foundation for further growth through ongoing exploration success.

Powerhouse Energy Group (LSE:PHE) has entered into a 25-year lease agreement for a 1.98-acre fully serviced plot at Silverwood Business Park in Ballymena, Northern Ireland. The site is earmarked for the development, ownership and operation of a waste-to-hydrogen plant with a planned processing capacity of 40 tonnes of waste per day.

Operational and financial highlights

The proposed facility is designed to convert landfill-destined waste into ultra-high-purity hydrogen (99.999%), targeting end uses such as transport fuel. The project aligns with Ballymena’s ambition to establish itself as a regional hydrogen hub, working alongside local stakeholders including Wrightbus, Translink and Mid and East Antrim Borough Council. The lease is conditional on the project securing planning consent, but nevertheless represents a meaningful step forward in Powerhouse Energy’s commercial deployment strategy and its positioning within the early-stage hydrogen economy.

From an investment standpoint, the outlook continues to be dominated by financial and technical headwinds. The group remains loss-making, with negative cash flows and declining revenues, while share price indicators point to a bearish technical backdrop. Although recent corporate developments demonstrate strategic intent and project momentum, they are not yet sufficient to offset the underlying financial and market challenges.

More about Powerhouse Energy Group

Powerhouse Energy Group is a UK-listed clean technology company that has developed proprietary process technology to convert waste plastics, end-of-life tyres and other non-recyclable waste streams into syngas. This syngas can be used to produce hydrogen, electricity, heat and chemical feedstocks. The group also owns Engsolve, a revenue-generating engineering services business that supports the design and delivery of new technologies and clean energy projects, enabling deployment of Powerhouse’s solutions at both community and industrial scale.

Sound Energy (LSE:SOU) has reported further progress at its Tendrara Phase I gas development in eastern Morocco, where operator Mana Energy has successfully flowed both the TE-6 and TE-7 wells. The wells have now fully tested their respective sections of the gas gathering system, completing a key element of the project’s surface infrastructure.

Operational and financial highlights

The company is preparing to commission nine on-site power generation engines, including seven gas-fired units that are expected to transition to using Tendrara gas in the near term. This switch is intended to reduce diesel consumption, lower operating costs and cut Scope 1 emissions, as Sound Energy continues to evaluate bridging finance options ahead of first gas production.

On the exploration front, Moroccan authorities have approved an extension to the complementary period of the Anoual Exploration Permits through to September 2028. As part of the extension, Sound Energy has committed to drilling the M5 exploration well targeting Triassic reservoirs, with the option to undertake further 3D seismic work and additional drilling. The agreement reinforces the company’s longer-term exploration position in a highly prospective area, while capping its cost exposure to the M5 well at US$2.57 million.

From an investment perspective, the company’s outlook remains constrained by weak financial fundamentals, including sizeable recent losses, rising leverage and sustained negative cash flow. Share price technicals are moderately supportive, with the stock trading above key moving averages and a positive MACD signal. Management guidance points to potential upside from near-term production and contracted gas sales, although balance sheet pressure and project timing risks remain significant. Valuation support is limited by negative earnings and the absence of dividend yield.

More about Sound Energy

Sound Energy PLC is a UK AIM-listed transition energy company focused on onshore gas exploration, development and production in Morocco, alongside renewable power generation initiatives. Its core assets are centred on the Tendrara gas field, where the company holds a 25-year development concession. Development plans include a micro-LNG project currently under construction and a larger Phase II piped gas scheme awaiting final investment decision, targeting industrial and power customers across a 28,000 square kilometre onshore permit portfolio in Morocco.

Andrada Mining (LSE:ATM) has announced standout surface sampling results from its Lithium Ridge project in Namibia, confirming the presence of multiple high-grade lithium-bearing pegmatites. Grab samples returned lithium oxide grades in excess of 4% Li₂O, with a highest recorded value of 4.67% Li₂O.

Operational and financial highlights

An extensive mapping and sampling programme has now identified more than 1,500 pegmatite outcrops, materially extending the recognised mineralised corridor to around 6 kilometres. In addition to lithium, the work has confirmed economically meaningful tin and tantalum mineralisation, raising the prospect of attractive by-product credits. Mineralogical analysis shows lithium is predominantly hosted in spodumene.

The surface results support the ongoing, SQM-funded Stage 1 drilling campaign, which comprises 14,000 metres designed to test the depth extent and continuity of the system. Collectively, the findings point to Lithium Ridge as a potentially large-scale, polymetallic project that could significantly bolster Andrada’s development pipeline and reinforce its positioning within the global critical minerals supply chain, alongside continued expansion at the Uis Mine.

From a financial perspective, the investment case remains constrained by ongoing losses, negative returns on equity, and negative operating and free cash flow, despite healthy top-line growth. Share price trends remain constructive, with a clear uptrend in place, although elevated momentum indicators suggest an increased risk of near-term pullbacks. Valuation support is limited by a negative price-to-earnings ratio and the absence of dividend yield data.

More about Andrada Mining

Andrada Mining Limited is a Namibia-focused producer and developer of tin, with a broader portfolio of critical minerals assets that includes lithium and tantalum projects. The company is listed on AIM and the OTCQB and is pursuing a strategy of expanding beyond its flagship Uis Mine to establish a diversified regional platform in battery and technology metals, targeting long-term growth driven by rising global demand for lithium and associated critical minerals.

Kavango Resources (LSE:KAV) has released encouraging results from a 7,714-metre diamond and reverse circulation drilling programme at the historic Bill’s Luck Gold Mine, part of its Hillside Project in Zimbabwe. The campaign has confirmed a mineralised gold system extending beyond 220 metres below surface, with multiple parallel reef structures identified in both the hanging wall and footwall alongside the currently exploited Main Reef.

Operational and financial highlights

Drilling from surface and underground has returned a series of high-grade gold intersections, including assays exceeding 100g/t over narrow intervals. These results are now being incorporated into a maiden Mineral Resource Estimate, which is under preparation and expected to support detailed mine planning and longer-term production evaluations. The findings reinforce Kavango’s strategy to lift gold output at Bill’s Luck while advancing other Hillside targets such as Nightshift and Steenbok, positioning the company as an emerging mechanised gold producer in Zimbabwe.

Despite early-stage revenue generation, the investment outlook remains constrained by weak financial fundamentals, including sizeable losses and ongoing cash burn, which heighten near-term funding and execution risks. Market technicals add further pressure, with the share price showing a sustained downtrend and negative momentum. Valuation support is limited by the loss-making profile and the absence of dividend yield.

More about Kavango Resources

Kavango Resources is a Southern Africa–focused metals exploration and gold production company listed in London and on the Victoria Falls Stock Exchange. The group is focused on rapidly advancing both open-pit and underground gold deposits in Zimbabwe using modern mechanised mining and processing methods. Its Zimbabwean portfolio is centred on the Hillside Gold Project, which includes Bill’s Luck, Nightshift—where a maiden resource has already been defined—and Steenbok, forming a pipeline of assets aimed at delivering scalable, near-term gold production.