Category: Top Story

Panther Metals (LSE:PALM) reported preliminary results from Phase 1 diamond drilling at the Wishbone volcanogenic massive sulphide prospect within its Obonga Project in Ontario, Canada.

Portable XRF readings identified discrete chalcopyrite mineralisation with copper readings of up to 8.34%. The company has also previously identified high-grade zinc mineralisation at the prospect.

Panther said the results provide additional geological information that may help assess historical copper anomalies identified through lake-sediment sampling around Wishbone.

The portable XRF results are preliminary and laboratory assays remain pending.

Drilling Paused During Wildfire Restrictions

Drilling and trail construction were temporarily suspended due to Canadian wildfire restrictions and permit conditions associated with the autumn hunting season.

During the pause, Panther continued core logging, imaging and portable XRF analysis. The company said access infrastructure to Wishbone is approaching completion.

Panther plans to resume drilling during the winter and continue the programme into 2027, including infill and step-out drilling.

Obonga Agreement Extended to August 2027

Panther and Broken Rock Resources have agreed to extend the 2021 sale and purchase agreement covering Obonga from 30 April 2027 to 31 August 2027.

The extension is intended to provide additional time for drill permit renewals and continued exploration work.

As consideration for the extension, Panther granted Broken Rock options over 25,000 ordinary shares at an exercise price of £1.70 per share. The new options replace unexercised options that expired in July 2026.

Panther Metals is an Isle of Man-incorporated mineral exploration company focused on Canadian projects. Its Obonga Project covers more than 90% of the Obonga Greenstone Belt in Ontario, where the company is exploring for volcanogenic massive sulphide mineralisation containing metals including copper and zinc.

Jubilee Metals (LSE:JLP) reported combined pre-refining copper production of 3,739 tonnes from its Roan operations and Molefe Mine for the year ended 30 June 2026, an increase of 225% from the previous year.

Production of copper cathode and sulphide material at the Sable Refinery increased to 2,120 tonnes.

At Roan, Jubilee reported stable operations and higher oxide concentrate production during the year, despite an extended maintenance period associated with the installation of a new fines dewatering circuit.

Molefe Mine Increases Production

Molefe, Jubilee’s first owned mine in Zambia, continued to increase production during the period, with the company reporting higher-grade output alongside ongoing drilling and pre-stripping activities.

Jubilee is targeting higher run-of-mine production rates at Molefe and plans to introduce bulk ore sorting as it works to provide additional feed to the Sable Refinery.

The company is seeking to increase the proportion of copper feed supplied from resources under its control as part of its move towards an integrated mining, processing and refining model.

Project G Development Planned for 2027

Jubilee is also developing a wider mining cluster around Molefe. Project G is scheduled to enter development from February 2027.

The company is considering potential joint ventures intended to provide additional sources of material for its processing operations.

Jubilee reported cost pressures during the period from higher acid and diesel prices.

Large Waste Project Sale Could Raise Up to $35 Million

As part of a portfolio review, Jubilee has entered into binding heads of terms for the proposed sale of its Large Waste Project for consideration of up to $35 million.

The company intends to direct capital towards its Zambian copper operations as it develops its mine-to-metals model.

Jubilee Metals operates mining, processing and refining assets in Zambia, including Roan, the Molefe Mine and the Sable Refinery. Its strategy involves increasing the use of company-controlled copper resources to supply its processing and refining operations.

Brave Bison (LSE:BBSN) announced a fourth and increased offer for System1 Group, valuing each System1 share at 360 pence through a combination of cash and newly issued Brave Bison shares.

Under the revised proposal, System1 shareholders would receive 135 pence in cash and 2.394 new Brave Bison shares for each System1 share held.

Based on Brave Bison’s recent volume-weighted average share price, the offer values System1 at approximately £47.5 million. Brave Bison said this represents 11.3 times System1’s consensus adjusted operating profit for FY27 and an 82% premium to System1’s undisturbed share price in February.

Brave Bison Holds 27.85% of System1

Brave Bison currently owns 27.85% of System1’s issued share capital and has received letters of intent covering a further 10.95%.

Together, these represent approximately 38.9% of System1’s share capital. The offer remains subject to a minimum acceptance condition of more than 50%.

If the offer is accepted in full, existing System1 shareholders would hold approximately 16.6% of the enlarged Brave Bison.

Brave Bison Sets Out Rationale for Offer

In presenting its revised proposal, Brave Bison cited System1’s forecast revenue growth and expected profitability relative to FY25 as part of its rationale for the transaction.

Brave Bison said the combination would create an enlarged AIM-listed marketing data and technology business. This represents Brave Bison’s assessment of the proposed transaction.

Brave Bison is an AIM-listed digital media and marketing company operating across data-driven marketing technology and content. Its strategy includes acquisitions and investments intended to expand its operations and capabilities.

Big Technologies (LSE:BIG) reported first-half 2026 revenue of £26.9 million, representing an increase of 6% on a constant-currency basis, while annual recurring revenue rose 5% to £53.2 million.

Adjusted EBITDA increased 14% to £14.2 million, while adjusted free cash flow reached £9.6 million.

The electronic monitoring technology provider ended the period with £67.1 million in cash after making initial payments related to the Buddi litigation settlement.

Chile Contract Valued at Around $26 Million

During the period, Big Technologies secured a seven-year contract with Chile’s Gendarmerie valued at approximately $26 million.

The company also reported contract renewals and new business across Latin America, including a three-year renewal in Guatemala.

In the US, Big Technologies secured six new contracts, alongside a statewide renewal in Tennessee.

Alcohol Monitoring Products Add to Portfolio

Big Technologies operates in the electronic monitoring sector through its Buddi brand, providing hardware and software used primarily by government and public-sector customers in criminal justice settings.

Its product portfolio includes GPS-based electronic monitoring technology and alcohol monitoring products including AlcoTag and AlcoBreath.

Management said contract wins and renewals are expected to contribute to performance during the second half and indicated that full-year results are expected to be slightly ahead of previous expectations.

The group’s business is based largely on recurring subscription revenue from electronic monitoring deployments across multiple international markets.

Iofina plc (LSE:IOF) said it has signed agreements with an existing brine supply partner to develop two additional IOsorb iodine production plants in central Oklahoma.

The new facilities, designated IO#13 and IO#14, will be constructed concurrently and represent the company’s largest project in its core central Oklahoma operating area to date.

Groundwork is expected to begin shortly, with both plants preliminarily scheduled to commence operations before the end of the first half of 2027.

IO#12 Commissioning Expected This Month

The announcement follows progress on Iofina’s IO#12 plant, which is due to be commissioned by the end of the month.

The addition of IO#13 and IO#14 is expected by the company to increase its crystalline iodine production capacity as the new facilities enter operation.

Iofina said the concurrent construction programme is consistent with its production plans for the coming years.

Iofina Targets 2,000 Tonnes of Annual Production

The company is targeting annual iodine production of 2,000 metric tonnes as it expands its network of IOsorb facilities.

Through Iofina Resources, the group develops, constructs, owns and operates iodine extraction plants in Oklahoma using its WET IOsorb technology.

Iofina also operates Iofina Chemical, which manufactures halogen-based specialty chemicals using iodine and other raw materials.

GlobalData (LSE:DATA) reported a 4% increase in revenue to £162.9 million for the six months ended 30 June 2026, while underlying revenue growth was 1%.

Adjusted EBITDA increased 5% during the period, with the company reporting an improvement in margins. Profit before tax declined, reflecting higher finance charges.

GlobalData said it continued to transition its operations towards an end-market divisional structure, designed to place leadership closer to customers and support decisions on capital allocation.

Consumer Division Records 7% Underlying Growth

The Consumer division recorded underlying revenue growth of 7% during the first half.

GlobalData identified its Healthcare division as an example of the operating model it is introducing across the wider business.

The company provides subscription-based proprietary data, analytics and content to corporate and institutional customers, with operations spanning healthcare and other end markets.

AI Investment to Affect Near-Term Margins

Management expects full-year revenue performance to be broadly in line with the first half.

The company also expects margins to remain subdued as it increases investment in AI-native workflows, proprietary data and sales capabilities.

GlobalData said its progress towards a 40% EBITDA margin is now expected to be more gradual as these investments continue.

M&A and Capital Returns Remain Part of Strategy

The group plans to continue considering selective acquisitions, with healthcare among its areas of focus, alongside capital returns to shareholders.

GlobalData is a UK-listed data, insight and technology company providing an intelligence and productivity platform to corporate and institutional clients. Its operations are based on subscription access to proprietary data, analytics and content, with an increasing focus on AI-enabled workflows and sector-specific products.

AstraZeneca (LSE:AZN) said its Phase III SERENA-4 trial evaluating Etcamah, or camizestrant, in combination with palbociclib did not meet its primary endpoint in patients with ER-positive, HER2-negative advanced breast cancer.

The trial assessed Etcamah plus the CDK4/6 inhibitor palbociclib as a first-line treatment against anastrozole plus palbociclib.

AstraZeneca said the Etcamah combination showed a numerical improvement in progression-free survival compared with the anastrozole regimen, but the difference was not statistically significant.

Safety Profile Consistent With Existing Data

According to the company, the safety profile observed with Etcamah and palbociclib was consistent with existing data for the treatments.

The SERENA-4 result does not affect Etcamah’s currently approved use in patients with ESR1-mutated disease, which is based on findings from the SERENA-6 programme.

Early Breast Cancer Trials Continue

AstraZeneca said it will focus on the currently approved use of Etcamah in ESR1-mutated disease while continuing its clinical development programme for the drug.

This includes the CAMBRIA-1 and CAMBRIA-2 trials, which are evaluating Etcamah in early breast cancer.

AstraZeneca is a Cambridge, UK-headquartered biopharmaceutical company developing and commercialising prescription medicines across oncology, rare diseases and other biopharmaceutical areas, including cardiovascular, renal, metabolism, respiratory and immunology. Its medicines are sold in more than 125 countries.