Category: Market News

Touchstone Exploration (LSE:TXP) has reported encouraging drilling results from the Carapal Ridge-3 development well on its Central block in Trinidad and Tobago, marking the first well drilled into the Carapal Ridge pool in 17 years. The well intersected approximately 1,082 feet of net sand, including around 1,000 feet of net Herrera sands containing hydrocarbons both above and below a key shale marker.

In addition, the well encountered 82 feet of net Karamat sands, confirming the presence of a secondary gas-charged interval and establishing a new potential gas play on the block. While Carapal Ridge-3 was drilled at a cost around 25% above budget, largely due to additional work required to manage natural gas flows from previously unproduced Karamat sands, the well was successfully drilled to a total depth of 8,200 feet and has been cased for future production. The well design includes a horizontal section aimed at maximising exposure to unproduced Herrera sands.

Completion activities are now under way, with tie-in to the Central block’s natural gas processing facilities targeted for the first quarter of 2026. The results validate Touchstone’s seismic interpretation and support the potential for up to three additional Herrera development wells on the Central block. They also open up a new standalone Karamat prospect, which could contribute incremental gas volumes and further strengthen the company’s growth pipeline in Trinidad.

More about Touchstone Exploration

Touchstone Exploration Inc. is a Calgary-based oil and gas company focused on the acquisition, exploration, development and production of petroleum and natural gas. Its operations are concentrated on onshore assets in the Republic of Trinidad and Tobago, with shares listed on the Toronto Stock Exchange and AIM in London under the symbol TXP.

Catenai PLC (LSE:CTAI) has agreed a further extension with Klarian Ltd regarding the repayment of a £450,000 unsecured convertible loan note facility. Under the revised terms, Klarian is now required to repay a total of £624,250, inclusive of associated fees, by 31 March 2026.

The agreement also provides for an additional extension fee of up to £74,910, depending on when repayment is ultimately made. Alongside the extension, Catenai has announced plans to host an investor webinar featuring Klarian’s chief executive officer. The session is intended to introduce Klarian’s business model, outline its progress during 2025 and underline the strategic relevance of the investment to Catenai’s wider portfolio, reflecting continued engagement with shareholders.

Catenai’s overall outlook remains weighed down by substantial ongoing losses and continued cash outflows, despite signs of improving revenue and a simplified balance sheet, including the absence of debt and positive equity. Technical indicators are broadly weak to neutral, while valuation remains difficult to assess given negative earnings and the lack of dividend support.

More about Catenae Innovation Plc

Catenae Innovation Plc is an AIM-listed provider of digital media and technology services. The group delivers integrated IT systems to corporate, government and education clients, drawing on an experienced team of project managers and system integrators to support a wide institutional customer base.

Great Western Mining (LSE:GWMO) has reported further progress at its wholly owned Pine Crow–Defender tungsten prospect in Mineral County, Nevada, following the completion of a machine-cut channel sampling programme across existing trenches. The work was carried out after earlier soil sampling identified anomalous tungsten results, prompting more detailed investigation of the prospect.

According to the company, initial observations from the trenching programme have been highly encouraging. Samples have now been submitted for laboratory analysis, with assay results expected in January. These results could inform the design of an initial drilling campaign and would further support Great Western’s strategy of advancing assets aligned with growing US demand for secure, domestically sourced critical and strategic minerals. The tungsten programme complements the company’s ongoing exploration activities across its broader copper and gold portfolio in Nevada.

Despite the positive operational update, Great Western Mining’s overall outlook remains constrained by weak financial performance, including the absence of revenue, ongoing losses and continued cash burn. Balance-sheet leverage risk is relatively limited, providing some mitigation. From a market perspective, technical indicators are more constructive, with the share price holding above key moving averages and momentum indicators moderately supportive. Valuation metrics remain unfavourable or difficult to assess due to negative earnings and the lack of dividend support.

More about Great Western Mining

Great Western Mining Corporation is a diversified exploration and development company focused on strategic minerals across several 100%-owned claim groups in Mineral County, Nevada. Its portfolio includes the flagship Huntoon Copper Project, which hosts a JORC-compliant copper resource, alongside a pipeline of gold, silver and early-stage tungsten assets aligned with US critical minerals priorities.

Premier African Minerals (LSE:PREM) has agreed with its offtake partner, Canmax Technologies, to extend the long stop date under their existing offtake and prepayment agreement for the Zulu Lithium and Tantalum Project. The deadline has been moved from 31 December 2025 to the earlier of 30 June 2026 or the date on which a new, reputable buyer acceptable to Canmax enters into a binding agreement to settle or manage Canmax’s prepayment exposure.

While the core economic terms of the arrangement remain unchanged, the extension introduces tighter conditions for Premier. These include restrictions on changes to key office holders at both group and project level without Canmax’s prior written consent, as well as an obligation to keep the existing security package fully in place. Canmax retains the right to exercise its contractual enforcement powers should any of these conditions be breached. The revised terms highlight Canmax’s continued support for the project, while also placing increased emphasis on operational discipline and governance around the Zulu development.

Premier African Minerals’ overall outlook continues to be constrained by weak financial performance, characterised by ongoing losses, negative gross profit and continued cash burn without reported revenue. Technical indicators remain bearish, with the share price trading below key moving averages and a negative MACD signal. Valuation metrics offer limited support given the absence of earnings and dividend data.

More about Premier African Minerals

Premier African Minerals Limited is an AIM-listed mining and natural resource development company with a focus on Southern Africa. Its asset base includes the RHA Tungsten project and the Zulu Lithium project in Zimbabwe, with exposure to commodities such as tungsten, lithium, tantalum and rare earth elements across projects ranging from near-term production opportunities to early-stage exploration.

Auction Technology Group (LSE:ATG) has confirmed that it has received and unanimously rejected eleven unsolicited and highly conditional takeover proposals from its largest shareholder, FitzWalter Capital. The most recent proposal, which offered 360 pence per share in cash, was rejected on the grounds that it significantly undervalues the business and is opportunistic, reflecting what the board sees as a gap between the company’s current share price and its underlying fair value.

The board has not provided FitzWalter with access to non-public due diligence information and has now urged the investor either to put forward a firm offer on terms that properly reflect the group’s value or to withdraw its interest. This stance is intended to allow management to concentrate on executing its long-term strategy. Key priorities include integrating the recent Chairish acquisition, further developing the group’s technology and AI-enabled platform, and driving standalone value creation for shareholders. A broader strategic update is expected to be outlined in conjunction with the company’s AGM trading statement later this month.

From a performance perspective, Auction Technology Group’s outlook continues to be shaped by financial headwinds, including negative net income and weakening cash flow. Technical indicators point to mixed momentum, while valuation metrics remain constrained by ongoing losses. Limited disclosure from earnings calls and a lack of additional corporate developments also restrict near-term visibility.

More about Auction Technology Group PLC

Auction Technology Group plc operates leading online marketplaces for curated second-hand goods, providing proprietary technology that connects buyers and sellers globally. The group is active across auctions and fixed-price sales in the art, antiques and wider resale markets, supported by value-added services such as atgPay and atgShip. Its US presence was strengthened in 2025 through the acquisition of Chairish, a prominent brand in the list-price art and antiques segment.

Blue Star Capital (LSE:BLU) has released an update on its core investment, SatoshiPay, highlighting progress across its Digital Asset Treasury and the Vortex fiat-to-crypto payments platform.

As at 30 December 2025, SatoshiPay’s Digital Asset Treasury held base positions of approximately 9.27 bitcoin and 72.03 ether. While the portfolio is around 24% lower than inception on a mark-to-market basis, it has generated an annualised yield of roughly 18% through decentralised finance liquidity provisioning, including activity associated with Vortex. Blue Star views this yield generation as a key element of SatoshiPay’s strategy to enhance returns from its digital asset holdings and has indicated that Treasury performance will be reported on a quarterly basis going forward.

Operationally, Vortex recorded transaction volumes exceeding US$4.8 million in December 2025, representing month-on-month growth of more than 52%. This lifted cumulative transaction volume since launch to around US$9.9 million, signalling increasing adoption of SatoshiPay’s fiat-to-crypto infrastructure.

Separately, Blue Star has taken steps to preserve cash for future investment by reducing directors’ salaries. In lieu of compensation, directors have been granted two-year warrants over 1.225 million ordinary shares, exercisable at £0.11 per share, representing a 22% premium to the recent market price. The move is intended to align management incentives with shareholders while maintaining liquidity for the group’s technology-focused investment portfolio.

More about Blue Star Capital

Blue Star Capital plc is an AIM-quoted investment company focused on early-stage and growth opportunities in new technologies, particularly blockchain, payments and esports. Its portfolio includes an approximately 50% interest in SatoshiPay Ltd, a blockchain payments business specialising in digital asset treasury management and fiat-to-crypto infrastructure, alongside investments in Dynasty Media & Gaming’s B2B white-label gaming platform and Paidia, a gaming platform focused on female audiences.

Henry Boot PLC (LSE:BOOT) has completed the sale of its wholly owned subsidiary, Henry Boot Construction Limited, to PWS Construction Limited. The transaction was finalised on 31 December 2025, following the agreement originally announced in September 2025.

The disposal represents another step in reshaping Henry Boot’s business portfolio and reflects a strategic shift away from direct construction activities. While the company did not disclose financial terms of the sale, the move is expected to influence the group’s future strategic focus and capital allocation, potentially allowing greater emphasis on other parts of its property and investment operations.

Henry Boot’s outlook continues to be supported by a solid balance sheet and what is considered an attractive valuation. Recent corporate actions add to the group’s longer-term growth narrative. However, technical indicators point to subdued share price momentum, and ongoing challenges around revenue and profit growth remain potential risks. In addition, the lack of recent earnings call commentary limits visibility on management’s near-term expectations.

More about Henry Boot

Henry Boot PLC is a UK-based group with a long history in construction and property-related activities. The company operates through a range of subsidiaries and has been actively reviewing and repositioning its portfolio as part of its evolving strategic direction.

Croma Security Solutions Group (LSE:CSSG) has expanded its UK footprint with the acquisition of TLS Security Systems, a family-run locksmith and access control business based in Taunton, Somerset. The transaction values TLS at up to £0.47 million, with an additional £0.20 million paid for its freehold retail premises. The deal has been funded entirely from existing cash resources, supported by instalment proceeds received from the earlier disposal of the Vigilant man-guarding business.

TLS generated revenue of £0.94 million and EBITDA of £0.11 million in the year ended 31 March 2025, with around 80% of turnover coming from commercial clients, including local authorities and healthcare providers. The acquisition establishes Croma’s first operational base in Somerset and increases the group’s network to 17 security centres, further strengthening its coverage across the South West of England.

Croma expects the integration to deliver operational synergies by combining TLS’s established local reputation and technical expertise in locksmithing and electronic security with Croma’s wider national platform. The move supports the group’s acquisition-led growth strategy and enhances service capabilities for both commercial and retail customers. Three of TLS’s owner-operators will remain with the business during the earnout period to ensure continuity.

From a market perspective, Croma Security continues to benefit from a stable financial position and supportive technical indicators. The shares trade on an attractive valuation, supported by a reasonable price-to-earnings ratio and a solid dividend yield. However, an elevated RSI suggests some near-term caution, highlighting the importance of continued focus on margin improvement and disciplined cash flow management.

More about Croma Security Solutions

Croma Security Solutions Group plc is an AIM-listed, technology-led security solutions provider with more than 50 years of specialist experience. The group delivers locksmith, fire and electronic security services to domestic and commercial customers and operates a nationwide network of security centres from its headquarters in Southampton. Serving sectors such as healthcare, education, leisure and utilities, Croma has focused its post-2023 growth strategy on acquiring and upgrading local locksmith businesses into modern security centres following the £6.5 million sale of its Vigilant man-guarding division.

Fiinu Plc (LSE:BANK) has reported its first unaudited net profitable month at group level, achieved in November 2025. The milestone was driven by a combination of operational and organisational changes, improved cost control and growth in new business activity. As a result, the group ended the year with an unaudited cash balance of approximately £5.34 million, while recent average monthly cash burn has fallen to below £200,000.

Following the acquisition and integration of its Polish subsidiary Everfex, Fiinu has implemented significant management and governance changes. The company has replaced the former local leadership with a more senior executive team and has commenced proceedings relating to alleged breaches of non-compete obligations by the previous management under the share purchase agreement. In parallel, Fiinu has strengthened governance structures and regulatory compliance at the subsidiary as it prepares for its next phase of growth. This includes advancing plans for the launch of its Plugin Overdraft® product in partnership with Manx Financial Group, which is targeted for early 2026.

More about Fiinu Plc

Fiinu Plc is a UK-listed fintech group and the developer of the Plugin Overdraft®, an innovative overdraft solution designed to be delivered through partnerships with banks and other financial institutions. The company expanded its footprint in 2025 through a reverse takeover of Polish payments business Everfex P.S.A., enhancing its presence in European digital financial services and positioning it to provide embedded credit products via partner lenders.

Begbies Traynor Group plc (LSE:BEG) has submitted an application for a block admission covering 478,667 ordinary shares to be listed on the AIM market of the London Stock Exchange. Admission of the shares is expected to become effective on or around 8 January 2026.

The shares will be issued on an ongoing basis to meet option exercises under the Group’s Sharesave Plan 2020 and will rank pari passu with the company’s existing ordinary shares. The block listing is intended to support employee share participation, with Begbies Traynor committing to disclose usage of the block admission every six months in accordance with AIM reporting requirements.

Begbies Traynor’s outlook continues to be underpinned by a solid financial position and supportive corporate developments. However, technical indicators point to some near-term caution, while valuation metrics suggest the shares may be pricing in a degree of optimism. These factors are partly offset by the group’s track record of strategic acquisitions and an attractive dividend yield, resulting in a broadly balanced overall assessment.

More about Begbies Traynor

Begbies Traynor Group plc is a UK-listed professional services group trading on AIM. The firm provides specialist advisory and support services to businesses and stakeholders, with a core focus on insolvency, restructuring and related professional services.