Category: Market News

Kendrick Resources (LSE:KEN) has announced a significant development at its Teufelskuppe rare earth project in southwest Namibia, where updated volumetric modelling and a high-resolution digital elevation survey have outlined approximately 14 million tonnes of high-grade, near-surface carbonatite mineralisation.

According to the company’s internal non-JORC estimate, supported by bulk density measurements, the exposed mineralisation carries total rare earth oxide (TREO) grades ranging from 2.2% to 7.06%. Kendrick said the results position Teufelskuppe among the highest-grade rare earth projects globally, with the added advantage of clearly visible and easily accessible mineralisation that could reduce geological and development risk.

Management noted that the current estimate relates only to the exposed surface component of the mineralised system. Previous drilling has already confirmed significant mineralisation extending at depth, indicating potential for further resource expansion. The company also highlighted nearby Kieshöhe as a prospective area that may host even larger open-pittable mineralised volumes.

Kendrick is continuing diamond drilling and channel sampling programmes at Teufelskuppe with the aim of converting both surface and subsurface mineralisation into a JORC-compliant resource estimate. The company believes ongoing exploration success could strengthen its position within the global rare earths market.

Kendrick’s overall outlook continues to be constrained by weak financial fundamentals, including the absence of revenue, recurring losses, negative cash flow, and a significantly weakened 2025 balance sheet marked by negative equity and a sharp reduction in assets. While technical indicators remain comparatively positive, with the shares trading above major moving averages and maintaining supportive momentum, these factors are outweighed by the financial and valuation risks associated with the company’s ongoing losses and negative price-to-earnings ratio.

More About Kendrick Resources PLC

Kendrick Resources Plc is a mineral exploration and development company focused on advancing resource projects primarily across southern Africa. The company is currently developing the Bonya rare earth project in Namibia alongside the Blue Fox licence in northwest Zambia, with a strategy centred on progressing assets toward production or value-generating transactions.

Compass Group (LSE:CPG) delivered strong first-half results for 2026, with revenue increasing 9% on a constant-currency basis to $25 billion and underlying operating profit rising 12%. The company’s underlying operating margin improved to 7.4%, supported by solid organic growth and continued operational efficiencies.

Organic revenue advanced 7.2%, driven by a client retention rate of 96% and $4.1 billion in new business wins, around half of which came from first-time outsourcing contracts. Underlying earnings per share also rose 12%, while free cash flow reached $825 million, enabling the company to raise its interim dividend by 13%.

Compass is continuing to invest heavily in expansion initiatives aimed at strengthening its competitive position. During the period, the group completed $2.3 billion in acquisitions and invested a further $0.8 billion in capital expenditure. Recent deals included the integration of Dutch premium food operator Vermaat and the acquisition of German procurement specialist Pro Care Management, moves designed to expand Compass’s presence and capabilities across Europe.

Following the strong first-half performance, management upgraded its guidance for 2026 and now expects underlying operating profit growth of more than 11%. The forecast is based on approximately 7% organic revenue growth, an additional 2% contribution from acquisitions, and ongoing margin expansion. The company said the updated outlook reflects confidence that profit growth will continue to outpace revenue growth over the medium term, despite leverage temporarily increasing to 1.7 times EBITDA.

Compass’s outlook remains supported by robust financial performance and positive management commentary highlighting strong profit momentum and operational discipline. However, technical indicators currently point to weaker share price momentum, while valuation metrics suggest the stock trades at a relatively elevated level. Investors are also weighing the company’s conservative long-term growth assumptions and the short-term increase in leverage.

More About Compass

Compass Group PLC is a global provider of outsourced food services and support solutions, serving sectors including business and industry, healthcare, education, and leisure. The company operates through a decentralised and sector-focused business model, supported by significant purchasing scale and increasing use of data, technology, and artificial intelligence. Compass is targeting long-term structural growth in the global food services industry, which it expects to expand substantially over the coming decade.

Dekel Agri-Vision (LSE:DKL) delivered a strong operational update for April from its Ayenouan palm oil project in Côte d’Ivoire, with crude palm oil production rising 43.6% year on year to one of the strongest April outputs recorded by the operation. The company processed 47% more fresh fruit bunches during the month while maintaining a healthy extraction rate of 21.3%.

Crude palm oil sales volumes increased by 28.5%, with prices remaining resilient at €947 per tonne despite slightly weaker local market conditions. Palm kernel oil continued to make a significant contribution to earnings, as sales volumes more than doubled and prices stayed elevated at €1,306 per tonne, reflecting continued strong market demand.

At the company’s Tiebissou cashew processing facility, operations continued at full capacity following the plant’s restart in March. Dekel processed close to 700 tonnes of raw cashew nuts during April, while both sales volumes and pricing remained stable, supporting positive momentum across the group’s diversified agricultural operations.

Dekel Agri-Vision’s outlook continues to be influenced by weak financial performance and softer technical indicators, highlighting ongoing operational and market-related pressures. However, recent positive corporate developments provide some encouragement regarding future progress. Valuation metrics remain challenged due to the company’s negative profitability profile.

More About Dekel Agri-Vision

Dekel Agri-Vision is a West African agricultural company focused on sustainable multi-commodity operations in Côte d’Ivoire. Its portfolio includes the fully operational Ayenouan crude palm oil mill, which sources fruit from local smallholder farmers, as well as the Tiebissou cashew processing plant, where the company is continuing efforts to scale up production capacity.

Galantas Gold Corporation (LSE:GAL) has announced a brokered private placement aiming to raise up to $85 million through the issue of as many as 154,546,000 units priced at $0.55 each. Every unit will include one common share and one-half of a warrant, with each full warrant exercisable at $0.80 over a 24-month period.

The company has also granted the placement agent an option to issue up to an additional 27,273,000 units, which could generate a further $15 million in proceeds. Completion of the financing is targeted for 28 May 2026, subject to approval from the TSX Venture Exchange and other customary closing conditions.

Galantas said the proceeds will be used to support exploration and development activities at the Indiana Gold and Copper Project and the Andacollo Gold Project in Chile, alongside broader corporate and working capital requirements. The financing will include participation from company insiders, making it a related-party transaction under Canadian securities regulations. However, the company intends to rely on available exemptions due to the transaction’s limited size relative to its market capitalisation. Management said the fundraising reflects both the capital demands tied to advancing its Chilean asset portfolio and the ongoing backing of insiders.

More About Galantas Gold

Galantas Gold Corporation is a publicly listed precious metals exploration and development company focused on gold and copper projects in established mining jurisdictions. The group is advancing the Indiana Project in Chile and has entered into a definitive agreement to acquire the Andacollo Project, pursuing a strategy centred on disciplined capital deployment and the responsible development of high-quality mineral assets.

Grainger (LSE:GRI) has agreed an extension of £540 million in core banking facilities with lenders AIB, Barclays, HSBC, and NatWest, pushing maturities out to 2033 while also securing improved lending margins. The refinancing increases the company’s weighted average facility maturity, including extension options, to 4.6 years and is expected to generate annual finance cost savings of roughly £1 million.

The revised financing arrangements form part of Grainger’s broader deleveraging strategy, under which the company plans to reduce debt levels by between £300 million and £350 million by fiscal 2029. Management is targeting a loan-to-value ratio of 30% alongside net debt to EBITDA of eight times, measures intended to strengthen balance sheet resilience and preserve financial flexibility as the group continues expanding within the UK Build to Rent market.

Grainger’s investment outlook remains mixed, supported by strong profitability but offset by declines in revenue and cash flow generation. Technical indicators currently point to bearish momentum in the shares, although the company’s relatively attractive valuation and constructive earnings outlook help balance sentiment. Investors also continue to view Grainger’s long-term growth strategy and REIT conversion positively.

More About Grainger

Grainger plc is the UK’s largest listed residential landlord and one of the leading operators in the Build to Rent sector. The company focuses on professionally managed rental housing and aims to deliver long-term, income-driven growth through large-scale ownership and operation of residential rental properties across the UK.

Hamak Strategy Limited (LSE:HAMA) has announced initial reverse circulation drilling results from the Akoko oxide gold project in southwest Ghana, with the first four drill holes returning high-grade, shallow gold mineralisation. Highlights from the programme included intersections of 29.53 g/t gold over 4 metres and 3.15 g/t gold across 6 metres.

The company said the latest assay results support its geological interpretation of a deeply weathered oxide system containing broad, near-surface gold zones. The drilling forms part of a wider 72-hole, 4,125-metre campaign designed to convert a historical near-surface resource estimate of 252,000 ounces into a compliant mineral resource under current industry reporting standards. Management believes advancing the resource base could improve the project’s economic potential and help move Akoko closer toward development.

Hamak’s outlook continues to be shaped by weak financial fundamentals, including its pre-revenue status, recurring losses, ongoing cash burn, and increased leverage during 2025, all of which contribute to elevated funding risk. Technical indicators also remain under pressure, with the shares trading below key moving averages and showing a negative MACD signal. Valuation support remains limited given the company’s loss-making position, reflected in a negative price-to-earnings ratio and the absence of a dividend yield.

More About Hamak Gold Limited

Hamak Strategy Limited is a UK-listed company focused on gold exploration activities in West Africa, particularly in Ghana, while also pursuing a digital asset treasury management strategy. The company targets near-surface oxide gold deposits considered suitable for open-pit mining, combining exposure to traditional mineral exploration with interests in digital finance initiatives.

Abingdon Health plc (LSE:ABDX), a specialist in the development and manufacture of lateral flow diagnostics, has highlighted the UK commercial launch of LVOne, described as the first rapid blood test designed to identify stroke at the point of care. The test was developed by customer UpFront Diagnostics and is now being introduced through the London Ambulance Service.

As the contract development and manufacturing organisation (CDMO) partner on the project, Abingdon Health was responsible for feasibility studies, manufacturing scale-up, validation processes, and routine production of LVOne’s dual-biomarker assays. The initial deployment phase will see approximately 280 ambulances equipped with the test as part of a six-month pilot programme in London. The company said the rollout demonstrates its ability to support complex lateral flow diagnostic projects from early-stage development through to commercial production.

Abingdon operates manufacturing facilities in York and Doncaster in the UK, alongside operations in Madison, Wisconsin, and also provides regulatory consulting and analytical testing services through its subsidiaries. These capabilities are aimed at helping in vitro diagnostic and medical device companies achieve regulatory approvals and market access across major international territories.

The company’s outlook continues to be affected by weak financial quality, including ongoing losses, declining gross margins, and negative operating cash flow, despite recording strong revenue growth. Technical indicators remain supportive, with the shares trading above key moving averages and showing a positive MACD trend, although a high RSI reading points to the possibility of near-term overbought conditions. Valuation metrics remain constrained by negative earnings and the absence of a dividend yield.

More About Abingdon Health PLC

Abingdon Health plc is a UK-based med-tech contract services provider specialising in rapid diagnostic testing and regulatory support services for customers worldwide. Its CDMO operations focus on the development and manufacture of lateral flow assays across sectors including infectious disease, clinical diagnostics, animal health, and environmental testing, supported by in-house analytical testing and regulatory consulting expertise in both the UK and the United States.

Greatland Resources (LSE:GGP) has announced a major exploration result from the Pinnacles prospect at Telfer, located approximately 1.2 kilometres south of the West Dome Underground resource. A 1,858-metre diamond drill hole returned an intersection of 58.7 metres grading 6.5g/t gold and 0.1% copper, including a higher-grade section of 37 metres at 9.98g/t gold, pointing to a significant continuation of the geological structure associated with existing underground mineralisation.

The newly identified high-grade zone is situated around 1.5 kilometres from Telfer’s current underground crusher and hoisting infrastructure, highlighting the potential to expand resources close to existing operational facilities. Greatland said the mineralised system remains open to the north toward the current West Dome Underground resource estimate, as well as further south into largely untested ground. The company plans to undertake additional wedge drilling and follow-up exploration between Pinnacles and West Dome to evaluate the continuity and overall scale of the emerging mineralised corridor.

Greatland’s outlook is supported by a strong improvement in financial performance during FY2025, characterised by high profitability, stronger cash generation, and very low leverage. Technical indicators also remain favourable, with the shares continuing to trade in a clear uptrend supported by positive momentum, although near-term overbought conditions introduce some additional risk. Valuation metrics remain supportive, aided by a relatively low price-to-earnings ratio.

More About Greatland Resources

Greatland Resources is an Australia-based mining and exploration company focused on gold and copper projects. Its portfolio includes the Telfer operation, where the company is advancing the West Dome Underground project as part of a broader strategy to grow underground mineral resources while leveraging established processing and hoisting infrastructure.

Serabi Gold (LSE:SRB) delivered a substantial improvement in its 2025 financial results, supported by increased gold production and significantly higher realised gold prices. Revenue climbed to $155.8 million during the year, while EBITDA more than doubled compared with the previous period. The company also revised its all-in sustaining cost (AISC) for the fourth quarter of 2025 to $1,818 per ounce, with full-year AISC reaching $1,816 per ounce as expansion activities continued across its operations.

The company closed 2025 with net cash of $42.1 million and achieved a debt-free position in early 2026, strengthening its ability to fund future growth internally and evaluate potential acquisition opportunities. Serabi also introduced its first annual dividend and outlined a capital return policy targeting the distribution of 20% to 30% of free cash flow through dividends or share buybacks. At the same time, the group continues to allocate capital toward mine development, exploration drilling, and ESG programmes, aiming to balance shareholder returns with long-term operational growth and cost management.

Serabi’s outlook is underpinned by strong financial momentum, including rapid growth in revenue and profitability, improving cash generation, and low leverage. The company also trades on a relatively modest valuation, supported by a low price-to-earnings ratio. Technical indicators remain positive, with the shares maintaining an established upward trend and favourable momentum, although fluctuations in historical earnings and cash flow continue to represent a key investment risk.

More About Serabi Gold

Serabi Gold is a Brazil-focused gold mining and development company with producing operations at the Palito complex and expanding activities at the Coringa mine. The company is focused on mid-scale underground gold production and is targeting annual output of around 60,000 ounces from 2027, supported by ongoing mine development programmes and brownfield exploration initiatives.