Category: Market News

Mila Resources (LSE:MILA) has reported the final assay results from a 12-hole reverse circulation drilling programme at its Yarrol Gold Project in Queensland, with the latest results reinforcing the scale and continuity of the mineralised system.

According to the company, the drilling has confirmed multiple high-grade gold shoots contained within broader zones of moderate-grade mineralisation. The programme also demonstrated that mineralisation extends beyond the boundaries of the historic resource area and remains open both along strike and at depth, highlighting additional exploration potential.

The results mark an important step in the project’s advancement, enabling Mila to move into the next phase of development. Work will now focus on pre-resource evaluation activities, including detailed geological modelling and the preparation of an initial mineral resource estimate, which could provide the foundation for future economic studies.

Alongside progress at Yarrol, the company continues to advance its wider Australian exploration portfolio. At the Monal gold-copper project in Queensland, induced polarisation geophysical surveys and additional mapping programmes are underway to refine porphyry-related drill targets. Meanwhile, Mila has initiated a strategic review and resource update at the Kathleen Valley gold project in Western Australia, with the aim of identifying and unlocking further value from the asset.

By progressing Yarrol towards resource definition while simultaneously advancing exploration and development work across its other projects, Mila is seeking to establish a diversified pipeline of gold and gold-copper assets capable of supporting future growth and enhancing long-term optionality for shareholders.

The company’s outlook remains constrained by the absence of revenue, ongoing losses and persistent negative free cash flow. However, technical indicators provide some support, with the shares trading above key moving averages, although momentum measures suggest the stock may be approaching overbought territory. Valuation metrics remain limited by negative earnings and the lack of a dividend.

More about Mila Resources

Mila Resources is a London-listed exploration and development company focused on gold and copper opportunities in Australia. Its portfolio includes the Yarrol and Monal projects in Queensland, as well as a 30% interest in the Kathleen Valley gold project in Western Australia, where the company also holds an earn-in right that could increase its ownership to 80%. The assets provide exposure to both established and emerging mineral districts across Australia.

MTI Wireless Edge (LSE:MWE) has strengthened its presence in the defence sector after a contract held by subsidiary P.S.K. Wind Technologies with the Israeli Ministry of Defence increased in value from $2.2 million to approximately $4.5 million.

The expanded agreement covers the supply of communications infrastructure and is expected to be completed by the end of the first quarter of 2027. Management said the increase reflects growing demand for the group’s defence-related technologies and highlighted a robust pipeline of opportunities across all three of its operating divisions.

The enlarged contract enhances MTI’s visibility within the defence market and is expected to provide additional revenue support over the coming years. The company believes the development reinforces its reputation as a provider of advanced communications and infrastructure solutions to military customers at a time when defence spending remains elevated in many regions.

Management also pointed to a healthy order book and increasing levels of customer engagement across the business, suggesting potential for further contract awards. The company’s expertise in antennas, communications systems and specialised defence technologies is viewed as an important competitive advantage in securing future growth opportunities.

MTI’s outlook is supported by strong financial characteristics, including low leverage, consistent profitability and an attractive valuation profile. The shares also benefit from a healthy dividend yield and a relatively low earnings multiple. These strengths are partly offset by a mixed technical picture, with recent share price weakness contrasting with more supportive longer-term trends.

More about MTI Wireless Edge

MTI Wireless Edge is an Israel-based technology company focused on communication and radio-frequency solutions through its antenna, water management, and distribution and consulting divisions. The group develops and supplies advanced antenna technologies, including smart, MIMO and dual-polarity systems for military and commercial applications.

Through its subsidiary Mottech, the company provides remote monitoring and control systems for irrigation, water distribution and wastewater reuse projects serving agricultural, municipal and commercial customers. Another subsidiary, MTI Summit Electronics, delivers RF and microwave engineering services, consulting and integrated communications solutions for government, defence and critical infrastructure clients, including applications involving aerostats, SIGINT, RADAR and observation systems.

Premier African Minerals (LSE:PREM) has reached another key stage in the redevelopment of its Zulu Lithium and Tantalum Project in Zimbabwe, with ore from the run-of-mine stockpile now being processed through the operation’s newly commissioned flotation plant.

The company said early operating performance has met management expectations, although the optimisation process remains in its initial phase. Detailed information relating to recovery rates, throughput and overall plant efficiency has not yet been released as testing and performance assessments continue.

The start-up of the flotation circuit represents an important milestone in the planned restart of operations at Zulu and forms part of the company’s efforts to restore lithium and tantalum production. Management is continuing to refine plant performance and gather operational data as commissioning activities progress.

The development is expected to attract close attention from investors and industry participants given the strategic importance of the Zulu project to Premier African Minerals’ growth ambitions. Successful optimisation of the processing plant could strengthen the company’s position within the regional battery metals sector and support its participation in the growing global supply chain for lithium-related materials.

Despite the operational progress, Premier African Minerals continues to face financial challenges, including persistent losses, negative gross profit and ongoing cash outflows. Technical indicators also remain weak, with the share price trading below major moving averages and momentum measures remaining under pressure. Valuation metrics offer limited support due to the company’s negative earnings profile and lack of dividend payments.

More about Premier African Minerals

Premier African Minerals is a multi-commodity mining and natural resources company focused on Southern Africa. Its portfolio includes the Zulu Lithium and Tantalum Project and the RHA Tungsten Project in Zimbabwe, alongside interests in rare earth, lithium, tantalum and tungsten assets at various stages of development. The company’s strategy combines near-term production opportunities with longer-term exploration and resource growth initiatives.

Quantum Data Energy PLC (LSE:QDE) has announced that its Annual General Meeting will be held at 1 p.m. on 30 June 2026 at the company’s registered office in London. The formal notice of meeting has been distributed to shareholders and is also available through the company’s website.

The AGM follows the recent appointment of Parker Russell UK as Quantum Data Energy’s new external auditor, a change that has affected the timetable for the completion of the company’s financial reporting process.

As a result, the board intends to request an immediate adjournment of the meeting to provide additional time for the completion of the audited financial statements for the year ended 31 December 2025. Once the audit has been finalised and the accounts have been published, the company plans to reconvene the AGM and continue with the business originally scheduled for consideration.

Shareholders have been advised not to vote on the proposed AGM resolutions at this stage and instead await a further notice relating to the reconvened meeting. The move effectively delays key governance decisions until the audit process and reporting requirements have been completed under the company’s new audit arrangements.

Quantum Data Energy’s outlook remains challenged by weak financial fundamentals, including ongoing operating losses, negative operating and free cash flow, and increased leverage. Technical indicators also remain unfavourable, reflecting a prolonged downward trend in the share price, while valuation measures offer limited support given the absence of profitability and dividend payments.

More about Quantum Data Energy PLC

Quantum Data Energy PLC is a UK-incorporated company listed on the London Stock Exchange under the ticker QDE. The business operates within the energy sector and is focused on technology-driven and data-enabled energy opportunities. Headquartered in London, the company is subject to UK market regulations, including the Market Abuse Regulation framework governing listed companies.

Touchstone Exploration (LSE:TXP) has completed a US$10.9 million financing package comprising new equity and unsecured non-convertible debt, with major shareholder Purebond Limited playing a central role in the transaction.

The fundraising includes the issuance of approximately 26.6 million new shares, representing around 8.2% of the company’s existing share capital before the issue. Management said the financing is intended to reinforce the balance sheet while supporting the company’s continued presence on both the London and Toronto stock exchanges.

Purebond has subscribed for approximately 20.2 million of the newly issued shares and has also invested US$8.4 million through debt securities. Given Purebond’s existing shareholding, the transactions are classified as related-party arrangements under both UK and Canadian regulations and were reviewed by an independent committee of the board.

Pending shareholder and regulatory approvals, the debt securities are expected to be repaid and subsequently reinvested into additional equity. If completed, the process could increase Purebond’s ownership interest from about 20% to approximately 36.3%, significantly strengthening its influence within the company and potentially altering Touchstone’s shareholder structure and governance profile.

The transaction is expected to provide the company with additional financial flexibility while deepening the commitment of one of its largest investors as Touchstone continues to develop its oil and gas operations.

More about Touchstone Exploration

Touchstone Exploration Inc. is a Calgary-headquartered oil and gas company engaged in the acquisition, exploration, development, production and sale of petroleum and natural gas assets. The company’s operations are focused on onshore properties in the Republic of Trinidad and Tobago, and its shares are listed on both the Toronto Stock Exchange and AIM in London.

BRCK Group PLC (LSE:BRCK) has entered into an agreement to acquire H.S. Jackson & Son (Fencing) Limited, a long-established manufacturer and supplier of premium timber and steel fencing, gates and perimeter security solutions, in a transaction valued at an initial £15 million alongside £4.9 million for the company’s freehold property assets.

The acquisition will be funded from existing resources and is expected to complete on or around 30 June 2026. Founded in 1947, Jacksons serves residential, commercial, industrial and high-security sectors, including major government-backed infrastructure projects. For the year ended 30 September 2025, the business generated unaudited revenue of approximately £40.9 million and EBITDA of £4.2 million.

BRCK said the acquisition represents a further step in its strategy to diversify beyond its traditional construction materials activities. Jacksons brings a recognised brand, a broad customer base and a portfolio of premium products supported by long-term warranties, strengthening the group’s exposure to fencing, perimeter protection and critical infrastructure markets.

The total transaction value also includes up to £11 million of deferred consideration linked to future performance targets, together with a modest share-based component. Management expects the acquisition to be earnings enhancing during its first full financial year under BRCK ownership, while only marginally increasing the company’s AIM-listed share count.

BRCK’s outlook remains supported by steady revenue growth, strategic expansion initiatives and an attractive dividend yield. However, profitability and cash flow management remain areas of focus, while technical indicators continue to point to weaker market sentiment. The Jacksons acquisition is expected to enhance the group’s growth prospects and broaden its market exposure over the longer term.

More about BRCK Group PLC

BRCK Group PLC is a construction materials distributor focused on expanding its presence across the UK building and infrastructure sectors. The company supplies products to residential, commercial and industrial customers and has been pursuing a diversification strategy aimed at broadening its product offering, strengthening service capabilities and creating additional growth opportunities beyond its core construction materials business.

Forgent plc (LSE:FORG), the technology-focused energy transition and metals exploration company, is moving ahead with development activities at its Peak Hills gold-copper project in Western Australia, where it currently holds a majority interest and retains the option to significantly increase its ownership position.

The company’s exploration strategy is focused on re-evaluating historic datasets to identify and prioritise prospective targets across the project’s 163 km² land package. Management believes the approach can help unlock additional value from previously identified mineralisation trends while supporting future resource growth.

Planning has now been completed for the first drilling campaign at Peak Hills. An aircore programme comprising approximately 42 holes for a total of 2,860 metres is expected to commence around 21 June 2026 and continue for roughly three weeks. The programme will focus on seven priority target areas across the Karalundi, Junction and Curley’s prospects.

The drilling campaign is designed to confirm historical gold and copper intersections, investigate potential extensions to known mineralised zones and improve the company’s understanding of the project’s geological setting. Initial assay results are anticipated in early August 2026 and are expected to represent an important operational milestone as Forgent advances its Australian exploration portfolio.

Despite the progress at Peak Hills, the company’s outlook continues to be weighed down by weak financial fundamentals, including ongoing losses, leverage and negative cash flow generation. Technical indicators also remain challenging due to a sustained downward share price trend, while valuation metrics offer limited support given the absence of earnings and dividend payments.

More about Forgent plc

Forgent plc is a technology-led energy transition company focused on the exploration and development of critical and precious metals assets. The company’s primary focus is on gold and copper opportunities in Western Australia, including the Peak Hills project, where it currently owns a 51% stake across approximately 163 km² of granted exploration tenements and has the option to increase its interest to 99%.

Helix Exploration PLC (LSE:HEX) has agreed to acquire Montana-based Treasure State Drilling LLC (TSD) in a US$600,000 all-share transaction, securing ownership of the drilling rig that has been used to drill each of the company’s existing wells at its Rudyard Helium Project.

The acquisition was completed at a valuation below an independent appraisal and is expected to deliver meaningful cost savings by eliminating day-rate expenses as well as mobilisation and demobilisation charges. By bringing the rig in-house, Helix gains direct control over drilling schedules and equipment availability while reducing per-well development costs across its planned multi-well drilling campaign.

The rig is already located at the Rudyard project and is specifically suited to the geological formations targeted by Helix. Management said it is currently the only available drilling unit in north-central Montana, providing a strategic advantage in a region experiencing increasing oil and gas activity. Ownership of the rig is expected to enhance operational flexibility and reduce reliance on third-party contractors.

Helix intends to operate TSD as a wholly owned subsidiary while maintaining its commercial independence. When the rig is not required for Helix’s own activities, the company may seek third-party drilling contracts, creating an opportunity to generate additional revenue and potentially offset operating costs. Management believes the transaction will improve the group’s overall cost structure and support its long-term development plans.

Despite the operational benefits of the acquisition, Helix’s investment profile continues to be weighed down by the absence of revenue, ongoing losses and increasing cash burn, although the company remains debt-free. Technical indicators provide some support, reflecting a strong share price trend and positive momentum, while valuation metrics remain limited by continued losses and the lack of dividend income.

More about Helix Exploration Plc

Helix Exploration PLC is a helium exploration and development company focused on advancing the Rudyard Helium Project in northern Montana, a key area within the Montana Helium Fairway. The company is listed on both AIM and the OTCQB market and is targeting the development of helium resources in a region known for its oil and gas potential. Helix leverages management’s experience in U.S. helium systems as it seeks to build a portfolio of production and exploration assets.