Category: Top Story

GSK plc (LSE:GSK) has agreed to grant Alfasigma S.p.A. worldwide exclusive rights to develop, manufacture and commercialise linerixibat, an investigational therapy being studied for cholestatic pruritus in patients with primary biliary cholangitis (PBC).

Linerixibat is an ileal bile acid transporter (IBAT) inhibitor currently undergoing regulatory review across several markets, including the United States, the European Union, the United Kingdom, China and Canada. The treatment has received Orphan Drug Designation in the US, EU and Japan, while regulators in China have granted it priority review status for the same indication.

Under the terms of the agreement, GSK will receive an upfront payment of $300m from the Italian pharmaceutical company, with an additional $100m payable upon approval from the US Food and Drug Administration. The FDA’s target decision date under the Prescription Drug User Fee Act (PDUFA) is set for 24 March.

GSK may also receive a further $20m following approvals in the EU and UK, along with up to $270m in additional milestone payments tied to sales performance. In addition, the company will receive tiered double-digit royalties on global net sales of the drug.

Tony Wood, GSK’s Chief Scientific Officer, said the agreement enables the company to concentrate resources on treatments targeting chronic liver diseases such as chronic hepatitis B, metabolic dysfunction-associated steatohepatitis (MASH) and alcohol-related liver disease (ALD), conditions that collectively account for around two million deaths each year.

Regulatory submissions for linerixibat are supported by data from the Phase III GLISTEN trial, which met its primary and key secondary endpoints. The study demonstrated a rapid and sustained reduction in cholestatic pruritus, as well as improvements in sleep disruption related to itching, compared with placebo.

The drug’s safety profile was reported to be consistent with earlier clinical studies and with the expected mechanism of IBAT inhibition. Linerixibat has not yet been approved for use in any market.

KEFI Gold and Copper (LSE:KEFI) has announced further progress toward developing the Tulu Kapi gold project in Ethiopia, including the award of an engineering, supply and labour hire contract to Lycopodium.

The company said the appointment supports its development timetable, which targets first gold production in early 2028 and full-scale output by mid-2028. KEFI also confirmed that major project agreements, including loan facilities, have been finalised and are largely executed, with the remaining documentation expected to be completed in the coming weeks.

Funding progress has also advanced, with commitments secured for approximately US$310m of the project’s US$330m development budget. The company said this level of support demonstrates strong backing from project partners and financiers as the project moves closer to the construction phase.

KEFI highlighted coordinated progress across several key partners involved in the development. Ethiopian Electric Power Company is responsible for grid connection, while the Ethiopian Roads Authority is developing new access routes. Lycopodium will oversee the process plant and infrastructure, Dashen is managing resettlement housing, and BCM is handling bulk earthworks and mining activities.

With the financing and construction arrangements nearing completion, the company said the Tulu Kapi project is transitioning from the planning stage into implementation. This shift is expected to reduce funding risks and strengthen KEFI’s strategy to bring the long-planned Ethiopian gold asset into production.

Despite these operational milestones, the company’s outlook remains constrained by its financial profile as an early-stage developer, including no current revenue, ongoing losses and continued cash burn. Technical indicators are relatively supportive, with the share price trading above key moving averages and a positive MACD reading, although valuation metrics remain limited due to negative earnings and the absence of a dividend yield.

More about KEFI Gold and Copper

KEFI Gold and Copper plc is a mining exploration and development company focused on gold and copper assets in emerging markets. Its primary project is the Tulu Kapi gold development in Ethiopia, which is being advanced through its subsidiary Tulu Kapi Gold Mines S.C. The company works with a consortium of international and local contractors, financiers and government stakeholders to develop and operate large-scale precious metals projects.

Phoenix Copper (LSE:PXC) has removed executive chairman Marcus Edwards-Jones and chief financial officer Richard Wilkins following an internal investigation that uncovered undisclosed related-party transactions and unauthorised payments.

The inquiry found that approximately US$1.77m in payments were made between 2016 and 2025 to Lloyd Edwards-Jones S.A.S., a company owned and directed by Edwards-Jones, without the knowledge or approval of the board. The investigation also concluded that Wilkins shared in the proceeds. According to the company, these payments should have been disclosed as related-party transactions under market regulations but were not.

In addition, the investigation identified about £0.61m in further unauthorised payments connected to bond financing arrangements, some of which were made despite explicit instructions from the board not to proceed. Phoenix Copper said it intends to pursue recovery of the funds involved, and both former executives have indicated their willingness to cooperate with the process.

To stabilise governance following the findings, independent non-executive director and audit committee chair Catherine Evans has been appointed interim non-executive chair. She is working alongside the chief executive, interim CFO, advisory board and external advisers to strengthen oversight and maintain relationships with stakeholders. The company is also outsourcing its company secretarial services and has informed its auditor, Crowe UK LLP, of the historical transactions. At present, management expects additional related-party disclosures to be required rather than restatements of previous financial statements.

The governance developments come as the company continues to face funding pressures. Phoenix Copper said its current cash resources are expected to cover obligations only until the end of the second quarter of 2026 unless new financing is secured. The company is in discussions to amend a short-term loan facility with Riverfort Global Opportunities and renegotiate terms with Indigo Capital, and plans to update shareholders once these negotiations are concluded.

The group’s outlook remains constrained by weak financial performance, including the absence of revenue, widening losses and increasing cash burn, which heightens the risk of further funding requirements and potential shareholder dilution. Technical indicators are mixed but generally weak, with the share price trading below key moving averages, while valuation metrics remain limited due to negative earnings and the lack of a dividend.

More about Phoenix Copper

Phoenix Copper is an AIM-listed exploration and emerging mining company focused on base and precious metals projects in the United States. Its flagship asset is the Empire Mine in Idaho’s historic Alder Creek mining district, where the company holds an 80% interest and has significantly expanded the open-pit copper, gold and silver resource through drilling since 2017.

The Empire underground mine beneath the proposed open pit has a long history of high-grade production including copper, gold, silver, zinc and tungsten, and the company published its first mineral reserve statement for the open-pit project in 2024. Phoenix Copper also controls several additional historic mines in the district, the Red Star silver-lead discovery, the Navarre Creek gold exploration project, and two cobalt properties within the Idaho Cobalt Belt. The company is listed on AIM in London and also trades on the OTCQX market in New York.

Mony Group PLC (LSE:MONY) has confirmed that its Annual General Meeting will be held on 30 April 2026 in London, while also distributing its Annual Report and Accounts for the financial year ended 31 December 2025 to shareholders.

The company said investors have been sent, or provided with access to, the full set of AGM materials, including the notice of meeting and proxy forms where applicable. In addition, the Annual Report and AGM notice have been filed with the UK’s National Storage Mechanism and made available on the company’s corporate website to ensure compliance with regulatory disclosure requirements.

The announcement marks a routine step in Mony Group’s governance calendar, giving shareholders the opportunity to review the company’s performance during 2025 and participate in votes on key corporate matters at the upcoming meeting. By making the documentation widely accessible through official channels, the group aims to maintain transparency and encourage shareholder engagement.

From an investment perspective, Mony Group’s outlook is supported by strong financial fundamentals, including profitability, low leverage and solid free cash flow generation. The company also appears attractively valued, with a relatively low price-to-earnings ratio and a high dividend yield. However, technical indicators remain weaker, with the share price trading below key moving averages and showing bearish momentum.

More about Mony Group

Mony Group PLC, formerly known as Moneysupermarket.com, operates in the UK’s financial services comparison and digital consumer services market. Through its online platforms, the company enables users to compare and choose financial products such as insurance policies, loans and other personal finance solutions, helping consumers identify more competitive deals and manage their finances more effectively.

Pantheon Resources plc (LSE:PANR) has confirmed that senior non-executive director Linda Havard has stepped down from the board with effect from 5 March 2026 and will not stand for re-election at the company’s upcoming annual general meeting. During her tenure, Havard chaired the Finance, Audit and Risk Committee and played a key role in strengthening the company’s financial governance and reporting framework, contributing to board oversight as Pantheon advances its major development projects in Alaska.

Her departure comes as the company continues to move forward with development plans for its Ahpun and Kodiak projects on Alaska’s North Slope. Both assets hold significant independently certified contingent resources and benefit from proximity to established infrastructure. Pantheon has not yet announced a replacement for the board position, and the change in governance may draw attention from investors given the scale and capital requirements of the company’s planned developments.

The company’s outlook remains constrained by weak financial fundamentals, including recurring losses and negative free cash flow. Technical indicators also point to bearish sentiment, with the share price trading below key moving averages. Valuation metrics offer limited support, as the negative price-to-earnings ratio reflects ongoing unprofitable operations and the company does not currently pay a dividend.

More about Pantheon Resources

Pantheon Resources plc is an AIM-listed oil and gas company focused on developing its wholly owned Ahpun and Kodiak fields on Alaska’s North Slope. The company controls approximately 259,000 acres of state land and reports independently certified contingent recoverable resources of about 1.6 billion barrels of Alaska North Slope crude and 6.6 trillion cubic feet of associated natural gas. Its assets benefit from access to nearby roads and pipeline infrastructure.

Pantheon’s strategy aims to unlock an estimated value of around $5 per barrel of recoverable resources by bringing the Ahpun project to final investment decision and first production through the Trans Alaska Pipeline System. Cash flow from Ahpun is expected to support the future development of Kodiak, while gas resources may be monetised through a precedent agreement with the Alaska Gasline Development Corporation tied to a proposed long-distance pipeline to Southcentral Alaska.

Altona Rare Earths (LSE:REE) has raised £74,666 after the exercise of 3,733,334 warrants priced at 2 pence each, providing additional funding for technical work at its Monte Muambe project. The proceeds will help finance a fluorspar and gallium resource estimate alongside a scoping study aimed at advancing the project’s development.

In addition, the company has issued 625,000 new ordinary shares to a service provider in place of £15,000 in fees, reflecting its continued use of equity to cover certain project and corporate expenses. Following the issuance of a total of 4,358,334 new shares, Altona’s enlarged share capital will increase to 383,240,635 ordinary shares, all of which will be admitted to trading on the London Stock Exchange’s Main Market. While the issuance results in modest dilution for existing shareholders, it supports ongoing technical work designed to strengthen Monte Muambe’s multi-commodity potential and enhance its strategic relevance within global critical minerals supply chains.

The company’s outlook remains constrained by weak financial fundamentals, including a lack of revenue, ongoing losses, persistent cash burn, and increasing leverage. However, technical indicators provide some positive momentum, with the share price trading well above major moving averages and supported by a positive MACD signal. Valuation metrics offer limited support given the company’s negative earnings and absence of dividend payments.

More about Altona Energy

Altona Rare Earths is a London Main Market-listed exploration and development company focused on critical raw materials projects in Africa. Its flagship Monte Muambe project in Mozambique contains rare earth elements alongside fluorspar and gallium, while the company also holds the Sesana copper-silver project in Botswana. Together, these assets position the group to contribute to the supply of materials essential for clean energy technologies and advanced industries.

Monte Muambe has progressed through extensive drilling, the publication of a maiden JORC-compliant resource, the granting of a 25-year mining licence, and a scoping study focused on rare earths. Altona is also evaluating the potential for near-term fluorspar production and the recovery of gallium as a by-product, while continuing to pursue additional opportunities aligned with its strategy in critical minerals.

Synergia Energy (LSE:SYN) has reported a notable increase in oil output from two legacy wells at its onshore Cambay Production Sharing Contract (PSC) field in India. Following workover operations completed in November 2025, wells C-64 and C-74 have shown improved performance, with combined production rising from an average of 78 barrels of oil per day in February to around 195 barrels per day so far in March. The increase follows recent adjustments to pump rates aimed at enhancing recovery.

Gas production at the field has also remained stable, with the C-77H gas well continuing to operate at a plateau level of roughly 500,000 standard cubic feet per day. The combined performance improvements across both oil and gas operations highlight stronger operational momentum at Cambay, which could support Synergia’s near-term revenue prospects and strengthen its presence in India’s onshore energy sector.

Despite the operational progress, the company’s outlook remains constrained by weak financial performance. Revenues have declined, gross profit remains negative, and the business continues to experience operating and free cash flow outflows. Technical indicators also point to bearish momentum, with the share price trading below major moving averages and a negative MACD signal. While a very low price-to-earnings ratio offers some valuation support, it does little to offset ongoing operational and cash flow risks.

More about Synergia Energy Ltd

Synergia Energy Ltd is an oil and gas exploration and production company focused on onshore energy assets in India. The company holds a 50% working interest in the Cambay PSC, where it is pursuing both oil and gas development to increase hydrocarbon production and improve recovery from the field.