Category: Market News

Likewise Group plc (LSE:LIKE) has continued its strong growth momentum in 2026, reporting a 16.5% increase in like-for-like group revenue for the year to 31 May. Trading remained particularly robust in May, with sales rising 19.1% compared with the same period last year, reflecting ongoing market share gains across the business.

The company said customer demand remains healthy, with order intake continuing at strong levels and providing confidence in its growth outlook.

Logistics Investments Support Future Expansion

Management highlighted a series of investments designed to expand the group’s operational capacity and support future revenue growth.

A second distribution centre in Leeds is now fully operational, while additional capacity at the Newport facility is expected to come online shortly. Likewise has also increased cutting capabilities at its Derby site to support the continued development of its Valley flooring business.

In addition, the company is conducting legal due diligence on a proposed 60,000-square-foot high-bay distribution hub in the East Midlands. The investment programme is being complemented by ongoing fleet expansion, with the number of delivery vehicles expected to exceed 160 trucks during the year.

£250 Million Revenue Goal Within Reach

Likewise said the infrastructure investments completed over the past five years, together with current expansion projects, are expected to provide sufficient capacity to comfortably surpass its £250 million annual sales revenue target by the end of 2026.

The board remains confident that the company will achieve current market expectations for the year and continues to focus on improving margins alongside revenue growth. Management believes stronger profitability will help fund additional investment while supporting the group’s long-term development strategy.

Improving Financial Position Offsets Margin Pressure

The company’s outlook is supported by strengthening cash generation and a more stable financial profile, reflecting the benefits of recent operational growth and investment.

However, profitability remains relatively modest, limiting the overall financial strength of the business. Technical indicators remain generally supportive, although the shares continue to trade on a relatively high earnings multiple, which may temper investor enthusiasm given the company’s current level of profitability.

More About Likewise Group Plc

Likewise Group plc is a UK-based flooring distributor supplying a broad range of floorcovering products through an extensive nationwide distribution network.

The company operates multiple regional logistics hubs and a growing fleet of delivery vehicles, enabling it to serve customers across the country efficiently. Through continued investment in infrastructure and distribution capabilities, Likewise aims to increase market share and strengthen its position within the UK flooring sector.

Critical Mineral Resources (LSE:CMRS) has reported additional encouraging drilling results from its Agadir Melloul copper-silver project in Morocco, further supporting the scale and continuity of mineralisation across the property.

Recent drilling has confirmed the presence of shallow, gently dipping mineralised zones that extend laterally across the project area. The results include significant copper and silver mineralisation, with localized gold values also encountered in several intercepts.

Internal Resource Modelling Highlights Higher-Grade Zones

The company’s senior geologist has completed an internal geological interpretation and block model for the project, identifying multiple higher-grade mineralised areas and providing the foundation for preliminary mine planning activities.

Despite the positive results, management noted that less than 5% of the overall sediment-hosted target area has been tested through drilling to date, suggesting substantial exploration potential remains.

The company believes the combination of geological modelling and ongoing drilling is helping to build a clearer understanding of the project’s scale ahead of the next stage of development.

Maiden JORC Resource Targeted for 2026

Critical Mineral Resources said closely spaced drilling, comprehensive quality assurance and quality control procedures, and assay data from 176 drill holes have demonstrated strong continuity of mineralisation across the deposit.

These results are expected to support the preparation of a maiden JORC-compliant resource estimate, which the company is targeting for completion during the third quarter of 2026.

Alongside resource definition work, management is pursuing an ambitious development programme that includes metallurgical testing, process flowsheet design, environmental permitting and the completion of a definitive feasibility study. The objective is to establish a pathway toward potential mine development, subject to favourable economic outcomes.

Financial Constraints Remain a Key Consideration

While exploration progress continues to strengthen the project’s potential, the company’s outlook remains constrained by its financial position. Critical Mineral Resources currently generates no revenue and continues to report losses and cash outflows, while carrying negative equity and increased debt levels.

Although technical indicators provide some support for the shares in the near term, they are insufficient to fully offset the risks associated with funding requirements and ongoing operating losses. Valuation metrics also remain challenged by the company’s loss-making status and the absence of dividend payments.

More About Critical Mineral Resources Plc

Critical Mineral Resources Plc is a mineral exploration and development company focused on copper, silver and other critical metals within Morocco.

Its flagship Agadir Melloul project is targeting sediment-hosted copper-silver mineralisation within the Anti-Atlas region, an area known for its mining potential. The company combines local geological expertise with insights from regional analogue deposits, including the nearby Tizert copper project, as it advances exploration and development activities.

Power Metal Resources (LSE:POW) reported its audited 2025 results, pointing to stronger market sentiment and an improved financial position following a period of portfolio restructuring and targeted investment activity. The company continued to advance its project incubator strategy by reducing exposure to non-core assets while increasing its participation in emerging opportunities such as Minestarters and Apex Royalties.

Management said these initiatives have helped streamline the portfolio and position the business to pursue growth opportunities across a range of commodities and jurisdictions.

Uranium Exploration Activities Advance Across Athabasca Basin

A major area of focus during the year was the company’s North American uranium joint venture, Fermi Exploration, which continued to progress several projects within the Athabasca Basin.

Exploration work identified new intrusion-related and basement-hosted uranium targets while advancing multiple drilling and geophysical programmes. Although certain assets, including the West Hawkrock project, were temporarily paused, several active licences generated encouraging geological results.

Projects such as Tait Hill, Fortin River, Drake Lake-Silas, Perch River, Badger Lake and East Hawkrock all recorded indicators supportive of further exploration. The results reinforce Power Metal’s strategy of increasing exposure to uranium opportunities while continuing to develop assets across its broader portfolio.

Portfolio Strategy Supports Long-Term Growth Ambitions

Beyond its uranium interests, the company continued pursuing growth opportunities in other regions, including ongoing expansion efforts within the Arabian Shield.

Power Metal’s approach remains focused on identifying, advancing and monetising exploration assets through a combination of direct ownership, partnerships and strategic investments. Management believes this diversified model helps spread risk while creating multiple pathways to value generation.

Financial Strength Balanced by Operational and Market Challenges

The company’s outlook is supported by strong revenue growth and a healthy balance sheet, reflecting the benefits of portfolio optimisation and disciplined capital management.

However, ongoing operational challenges and negative cash flow generation continue to weigh on the investment case. From a valuation perspective, management believes the shares may offer upside potential, although technical indicators suggest investors should remain cautious given prevailing bearish market trends.

More About Power Metal Resources Plc

Power Metal Resources Plc is a London-listed mineral exploration company with interests in a broad portfolio of early-stage and advanced resource projects around the world.

The company maintains exposure to multiple commodities and jurisdictions, with a growing emphasis on uranium and other future-oriented sectors. In addition to conventional exploration assets, Power Metal is pursuing opportunities in royalty structures and tokenised projects as part of its strategy to diversify risk and unlock shareholder value.

Helix Exploration (LSE:HEX) has released the results of independent noble gas isotope testing conducted on gas samples from its three producing wells and processed gas stream at the Rudyard Helium Project. The analyses identified elevated helium-3 to helium-4 ratios, with consistent isotope signatures recorded across the project area.

According to the company, the findings support the presence of a deep-seated, ancient and well-isolated noble gas reservoir that serves as the source of Rudyard’s helium production. The results also provide further validation of the geological model being used to guide future development of the project.

Argon Findings Could Open Additional Commercial Opportunities

The isotope study also delivered encouraging results for argon, with values comparable to those found at the world’s only commercial underground argon source.

If forthcoming argon-39 testing confirms that the gas has been shielded from cosmogenic radiation, Rudyard could potentially represent only the second known commercial underground source globally. Such a development could position Helix to participate in the specialized market for ultra-pure argon, which is used in advanced scientific applications including dark matter detection experiments.

Management believes the discovery could add a significant new dimension to the project’s value proposition, complementing its existing helium production strategy while creating additional scientific and commercial opportunities.

Strong Market Momentum Balances Early-Stage Financial Challenges

Helix’s outlook continues to be influenced by its early-stage development status. The company remains pre-revenue, continues to report losses and has experienced increasing cash outflows despite maintaining a debt-free balance sheet.

However, these financial challenges are partially offset by strong technical performance in the shares, which have exhibited positive momentum and a sustained upward trend. Valuation metrics remain limited by the absence of earnings and dividend distributions, reflecting the company’s current development-stage profile.

More About Helix Exploration Plc

Helix Exploration PLC is a helium exploration and development company focused on advancing projects within the Montana Helium Fairway in northern Montana, United States.

The company’s flagship Rudyard Helium Project targets helium-bearing nitrogen gas within the Souris and Red River formations. By utilizing existing infrastructure and low-cost processing methods, Helix aims to establish a scalable production platform supported by multiple wells and long-term revenue generation potential.

Tower Resources (LSE:TRP) reported its preliminary results for 2025, outlining advances across its African asset portfolio and measures taken to reinforce its financial position. The company continues to focus on developing its Thali licence in Cameroon while progressing exploration opportunities in Namibia and South Africa, seeking to capitalize on a favorable oil market environment.

Cameroon Farm-Out Supports Upcoming Drilling Activity

In Cameroon, Tower reached an agreement to farm out a 42.5% non-operated stake in the Thali licence to Prime Global Energies. Under the arrangement, Prime will contribute US$15 million toward the licence work programme, while a jack-up drilling rig has been secured for the planned NJOM-3 well.

The company is also pursuing a one-year extension to the licence’s initial exploration period. In parallel, Tower revised its commercial arrangements with Pegasus Petroleum, introducing a structure based on future production-linked payments and a significant share issuance designed to better align the interests of all parties as the project moves toward potential development.

Namibia Transactions Increase Exposure While Sharing Risk

Tower has also taken steps to expand its participation in Namibia’s offshore PEL96 licence by increasing its direct interest by 5%. At the same time, the company agreed to a 25% farm-in by Prime, which includes reimbursement of historical costs.

The Ministry of Industries, Mines and Energy (MIME) has confirmed the licence’s entry into its first renewal period, providing additional support for future exploration activities. Management believes the transaction structure allows Tower to maintain meaningful exposure to one of Africa’s most closely watched exploration regions while reducing funding requirements through partner participation.

Capital Raises Provide Liquidity for Strategic Priorities

To support ongoing operations, Tower implemented a series of financing initiatives during 2025 and early 2026. The company secured an unsecured convertible bridge loan facility of up to £1 million during 2025 and subsequently completed multiple equity subscriptions that raised more than £2.7 million.

The proceeds enabled the full repayment of the bridge loan and provided working capital to advance key licence commitments while awaiting regulatory approvals for the Cameroon and Namibia farm-out transactions. Although the funding programme resulted in substantial shareholder dilution, management views the additional capital as critical to maintaining momentum across its portfolio.

Financial Challenges Continue to Weigh on Outlook

Despite operational progress, Tower’s outlook remains constrained by its financial profile. The company continues to report no revenue generation, recurring losses and negative free cash flow, although leverage remains relatively low.

Technical indicators also remain weak, with the shares trading below major moving averages and momentum measures such as MACD remaining negative. Valuation metrics provide limited support given the company’s loss-making status and the absence of a dividend yield.

More About Tower Resources

Tower Resources is an AIM-listed oil and gas exploration and production company focused on developing a diversified portfolio of African energy assets.

The company’s strategy combines near-term development opportunities in Cameroon, aimed at generating future cash flow, with exploration projects in Namibia and South Africa. Through seismic acquisition and partner-led risk sharing, Tower seeks to unlock value from emerging hydrocarbon provinces across the continent.

GEO Exploration Limited (LSE:GEO) has finished a fixed-wing airborne magnetic and radiometric survey across its Gorge Project in Western Australia. The programme was completed ahead of schedule by contractor MAGSPEC Airborne Surveys, providing the company with a new geophysical dataset that will support future exploration activities.

The survey results are expected to enhance geological and structural interpretations of the project area, assist in identifying priority drill targets and help guide upcoming geochemical exploration programmes. GEO’s Exploration Manager is currently undertaking field reconnaissance and mapping work to integrate the new information into the project’s evolving geological model.

Historical Results Highlight Significant Gold Potential

The Gorge Project continues to demonstrate strong exploration potential, supported by historical exploration that identified widespread gold mineralisation along a strike length of approximately five kilometres.

Previous work has returned high-grade rock chip and soil sample results, elevated gold values in drainage samples and multiple discoveries of shallow gold nuggets. These findings have reinforced the project’s prospectivity and support management’s view that the area could host a significant gold system.

According to the company, the newly completed airborne survey represents an important step toward refining exploration targets and prioritising follow-up drilling programmes. Successful targeting could further enhance the strategic value of the asset within GEO Exploration’s portfolio.

Exploration Strategy Focused on Greenfields Discovery

Management believes the combination of geophysical data, field mapping and future geochemical programmes will provide a stronger understanding of the project’s geology and help accelerate exploration efforts.

The Gorge Project is viewed as a key component of GEO’s strategy to pursue greenfields gold discoveries in Western Australia, offering investors exposure to an early-stage exploration opportunity with significant upside potential.

More About GEO Exploration Limited

GEO Exploration Limited is an AIM-listed mineral exploration company focused on the discovery and development of gold resources in Western Australia.

Through its wholly owned subsidiary, Gorge Gold Pty Ltd, the company controls the Gorge Project licence within the Proterozoic Capricorn Orogen. The project covers approximately 81 square kilometres and is prospective for both large-scale orogenic and Carlin-style gold mineralisation, forming the foundation of GEO’s exploration strategy in the region.

GoldStone Resources (LSE:GRL) has reported further progress at its Sierra Leone joint venture, MinCorp SL, where the company owns a 50% interest in a number of small-scale gold mining licences located adjacent to the significant Baomahun gold deposit.

The venture enhances GoldStone’s presence in West Africa alongside its producing Homase mine in Ghana and supports the company’s strategy of increasing exposure to prospective gold-producing regions across the area.

Initial Processing Results Deliver Encouraging Signs

Since making its investment in March 2026, MinCorp SL has advanced several key operational activities, including the commissioning of a wash plant and the launch of test trenching work using excavator equipment.

During initial gravity recovery operations, visible coarse gold was identified, a development the company considers a positive indication of the mineral potential within the licence areas. GoldStone has also deployed local technical and management personnel to support the project’s advancement.

Under the terms of its memorandum of understanding, the company expects to receive initial revenues from early gold sales. Looking ahead, management intends to implement more structured processing programmes aimed at improving recovery rates, refining mining methods and supporting future mine planning activities.

The project continues to receive support from Sierra Leone’s National Minerals Agency as development work progresses.

Strong Market Momentum Offsets Financial Challenges

GoldStone’s investment outlook remains constrained by ongoing financial pressures, including continued losses, weaker margins, negative free cash flow and increasing leverage.

However, these concerns are partially balanced by strong technical performance, with the shares trading above key moving averages and maintaining positive price momentum. Valuation metrics remain challenging due to the company’s loss-making status, reflected in a negative price-to-earnings ratio and the absence of dividend support.

More About GoldStone Resources

GoldStone Resources Limited is an AIM-listed gold exploration, development and production company focused on assets in Ghana.

Its flagship Akrokeri-Homase project, located in southwestern Ghana, contains a JORC-compliant gold resource of 602,000 ounces across a 4-kilometre section of the Homase Trend. The project incorporates two historic high-grade gold mines and forms the cornerstone of the company’s strategy to build a broader portfolio of assets along the highly prospective Birimian Gold Belt.

Paragon Banking Group PLC (LSE:PAG) has published its Half Year Financial Report and Pillar III disclosures for the six months ended 31 March 2026. The documents have been made available through the National Storage Mechanism, the London Stock Exchange platform and the company’s investor relations website.

The publication provides investors and other stakeholders with updated financial and regulatory information, reflecting the group’s commitment to transparency and adherence to reporting obligations.

Board Approves 15.1p Interim Dividend

The board has declared an interim dividend of 15.1 pence per ordinary share for the 2026 financial year. Shares will trade ex-dividend from 2 July, with a record date of 3 July and payment scheduled for 24 July.

The dividend announcement highlights management’s confidence in the bank’s financial performance and capital strength, while delivering a cash return to shareholders in accordance with the established timetable.

Valuation Strength Balanced by Financial Risks

Paragon’s investment profile continues to benefit from a relatively low price-to-earnings valuation and an attractive dividend yield. Technical indicators also remain supportive, with the shares trading above key moving averages.

However, these strengths are offset by certain financial risks, including higher leverage levels and volatility in both revenue and cash flow. These factors create some uncertainty around the sustainability and consistency of recent operating performance.

More About Paragon Banking Group PLC

Paragon Banking Group PLC is a UK specialist banking institution offering a range of lending and savings products to both retail and commercial customers.

The group operates across several segments, including mortgage lending and specialist financing, and is subject to the UK’s regulatory and financial reporting framework. Through its banking operations, Paragon provides tailored financial solutions while maintaining a focus on prudent risk management and shareholder value.