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Rainbow Rare Earths (LSE:RBW) has reported progress across its rare earth development projects in South Africa and Brazil for the financial year ended 30 June 2026, alongside an £11.1 million capital raise and an increase in its cash balance to $12.9 million.

The company’s preliminary results outlined developments at its Phalaborwa project in South Africa and Uberaba project in Brazil, both of which are focused on recovering rare earth elements from phosphogypsum, a by-product of fertiliser production.

At Phalaborwa, Rainbow reported that approximately 75% of the project’s processing flowsheet has been finalised. The company also advanced solvent extraction development work in collaboration with Neo Performance Materials and agreed a long-term offtake framework.

These activities form part of the technical and commercial preparations for the next stages of project development.

Rainbow is targeting completion of a pre-feasibility study at Phalaborwa in late 2026, followed by a definitive feasibility study in 2027. The studies are intended to assess the project’s technical requirements, operating parameters and economic viability.

In Brazil, the company’s Uberaba project, being developed in partnership with The Mosaic Company, progressed to the pre-feasibility stage following completion of an economic assessment.

Rainbow said the assessment supported further development work at Uberaba, where the company is evaluating the recovery of rare earth elements from phosphogypsum materials.

The group’s development strategy centres on extracting rare earth elements from existing industrial by-products rather than conventional mined ore. Rainbow is assessing the potential cost and environmental characteristics of this processing approach as part of its project studies.

During the financial year, Rainbow raised £11.1 million to support its development activities and reported a cash balance of $12.9 million. The company also expanded its team as work progressed across its project portfolio.

Separately, Rainbow began evaluating a potential listing in the United States. No definitive decision or timetable for a US listing was provided in the preliminary results.

The company also highlighted changes in the international rare earth market, including tighter Chinese export controls and differences between domestic Chinese prices and prices available outside China for certain heavy rare earth elements.

According to Rainbow, governments in Western markets have responded to supply chain considerations through measures including strategic stockpiling, price support mechanisms and direct investment in rare earth projects.

The company views these developments as relevant to its plans to establish alternative sources of rare earth materials for industrial, energy transition and defence applications.

Rainbow’s principal projects are intended to supply rare earth elements used in manufacturing and technology applications, with the company pursuing processing and offtake arrangements to support future commercial operations.

Looking ahead, Rainbow’s priorities include completing the remaining technical work at Phalaborwa, progressing the planned feasibility studies and continuing pre-feasibility activities at Uberaba.

The group will also continue evaluating financing and market opportunities, including the potential US listing, as it advances both projects towards future development decisions.

Andrada Mining (LSE:ATM) has reported a profit after tax of £2.5 million for the first half of its 2027 financial year, compared with a loss in the corresponding period last year, as higher production and tin prices contributed to increased revenue at its operations in Namibia.

Revenue rose 80% year on year to £20.6 million, while gross profit increased more than fourfold. The company also reported operating cash generation of £4.9 million, with its cash balance reaching £15.6 million at the end of the reporting period.

Andrada said operating costs per tonne remained broadly stable despite increased production volumes, contributing to the improvement in profitability.

The company’s Uis tin mine remained its principal producing asset during the period, with expansion activities continuing as part of its strategy to increase output.

A fully funded ore-sorting expansion at Uis is progressing according to schedule. Once completed, the project is expected to increase annual contained tin production to between 1,500 and 1,900 tonnes.

Management expects the additional production capacity to contribute to future operating margins and cash generation, although the anticipated benefits remain dependent on the completion and performance of the expansion.

Alongside its producing operations, Andrada continued exploration and development work across its other Namibian mineral assets.

At Lithium Ridge, exploration activities identified an extension of previously recognised mineralisation. The project is being advanced through a strategic partnership with SQM, with development activities focused on lithium, tin and tantalum opportunities.

At Brandberg West, the company reported progress in the regulatory approval process and results from ore-sorting test work. The project contains tungsten, copper and tin mineralisation and is being developed in collaboration with BWCAM.

Andrada said the regulatory milestone and test results would support further evaluation of the project’s development potential.

The company also undertook changes to its board during the reporting period as part of a governance renewal process.

Management described the first half of FY2027 as a transition in the group’s financial performance, with Uis generating positive earnings while investment continues across its exploration and development portfolio.

Andrada’s operations are centred on three principal assets in Namibia: the producing Uis tin mine, the Lithium Ridge exploration project and the Brandberg West polymetallic project.

The group is pursuing increased tin production alongside the development of lithium, tungsten, copper and tantalum resources through its existing assets and strategic partnerships.

For the second half of FY2027, Andrada’s priorities include completing the Uis ore-sorting expansion and progressing technical and development activities at Lithium Ridge and Brandberg West.

The company enters the second half with £15.6 million in cash and an ongoing investment programme aimed at expanding production capacity and advancing its wider critical minerals portfolio.

Hercules plc (LSE:HERC) has reported that trading for the financial year ended 30 September 2026 was ahead of market expectations, with group revenue forecast to exceed £130 million, representing approximately 7.3% growth compared with the previous year.

The UK infrastructure services group also reported improvements in operating margins and cash generation, supported by activity across its Labour Supply, Power & Energy and Construction Services divisions.

Management said its operational priorities remain focused on cost management, improving efficiency and increasing collaboration between business units to support profitability and future growth.

The Labour Supply division recorded a 10% increase in client numbers during the year, alongside growth in white-collar recruitment activities.

The division continued to provide personnel for the HS2 infrastructure programme while expanding its customer base across the power, utilities and water sectors.

In Power & Energy, revenue increased by approximately 11%, supported by the contribution of Advantage NRG. Hercules identified planned investment of more than £30 billion in UK electricity transmission infrastructure as a potential source of future business opportunities.

The company expects Power & Energy to account for an increasing proportion of group revenue and profitability as it develops its activities in electricity transmission and related infrastructure services.

Within Construction Services, the Civil Projects business is expected to deliver approximately 25% revenue growth for the financial year, which would represent a record annual performance for the operation.

Hercules attributed the increase primarily to activity associated with AMP8, the UK water industry’s eighth asset management investment period, which is supporting infrastructure projects across the sector.

The group also reported increased cooperation between its operating divisions, including opportunities to provide multiple services to existing customers through cross-selling arrangements.

Management said its project pipeline continues to expand across water, power and energy infrastructure, reflecting opportunities associated with ongoing UK investment programmes.

Hercules provides specialist labour, civil engineering services and power infrastructure support to contractors and infrastructure operators. Its operations include skilled workforce provision, civil project delivery, overhead electricity line services and specialist field teams.

Looking ahead, the company intends to continue integrating its divisions, managing operating costs and pursuing opportunities across its principal infrastructure markets.

The group expects investment programmes in electricity transmission, water infrastructure and transport to remain central to its business development strategy, with Power & Energy identified as a particular area of focus.

Cloudbreak Discovery PLC (LSE:CDL) has identified seven gold exploration targets at its Crofton Gold Project in Western Australia following a review of historical geological data and a programme of field mapping and sampling.

The company has classified four targets as high priority and three as lower priority, based on structural interpretation, magnetic survey data, historical gold occurrences and geochemical results.

The exploration work involved analysing historical geophysical and geochemical information alongside new field observations to identify geological structures potentially associated with gold mineralisation.

Cloudbreak reported that the assessment identified several prospective structural corridors near historical gold workings. Target selection was based on intersecting geological structures, magnetic gradients and anomalous gold concentrations in soil and rock-chip samples.

Field investigations also identified hydrothermal quartz veining, felsic and mafic intrusive dykes, and localised copper mineralisation. The company said these geological features support further investigation of potential gold-bearing zones outside previously identified workings.

Historical mining records from Crofton indicate reported average gold grades of approximately 150 grams per tonne during production in the early 20th century.

More recent sampling has returned results of up to 253 grams per tonne of gold and 215 grams per tonne of silver. These historical and sampling figures form part of the geological dataset being used to guide the company’s current exploration programme.

Cloudbreak has incorporated updated aeromagnetic interpretations and additional soil geochemistry into its exploration model to refine the locations of potential mineralised structures.

The company has completed its current field mapping and sampling activities across the identified priority areas at Crofton. The information collected will be used to assess potential drilling locations and determine the next phase of exploration.

Separately, Cloudbreak is progressing preparations for an air-core drilling programme at its Darlot West Gold Project, also located in Western Australia.

Regulatory approvals for the planned drilling activities at Darlot West have been obtained, while heritage surveys remain outstanding before the programme can proceed.

Cloudbreak stated that it has sufficient funding in place to carry out its current exploration plans across its Western Australian project portfolio.

The company’s exploration strategy involves combining historical mining records with modern geophysical interpretation, structural mapping and geochemical sampling to identify potential drilling targets.

Further work at Crofton will focus on evaluating the seven identified targets and refining the geological information required to plan future drilling activities.

Gelion plc (LSE:GELN) has reported total income of £2.5 million for the financial year ended 30 June 2026, alongside an adjusted EBITDA loss of £4.4 million, as the battery materials developer continued work on its Nano-Encapsulated Sulfur (NES™) cathode technology and expanded its industrial partnerships.

The company ended the financial year with pro forma cash of £9.6 million and no debt, following an oversubscribed capital raise generating net proceeds of £9.9 million.

Government grants and research and development tax incentives from the UK and Australia accounted for a substantial proportion of the group’s income during the period, providing funding equivalent to more than 60% of its research expenditure.

Gelion said the additional capital would support continued technology development, manufacturing scale-up and commercialisation activities.

During the financial year, the company progressed development of its NES™ sulfur cathode platform, including the launch of a programme funded by the Australian Renewable Energy Agency (ARENA). Technical work included achieving performance milestones in sulfur coin cells and advancing lithium-sulfur patent applications in the United States.

Gelion also expanded its research and development collaborations with TDK, QinetiQ, Nissan Technical Centre Europe and the University of Oxford.

In the United States, the company established a partnership with the National Laboratory of the Rockies to support NES™ technology development and investigate opportunities for a domestic battery materials supply chain.

Manufacturing activities included completing a technology transfer from the Max Planck Institute and increasing NES™ cathode active material production capacity in Australia.

Gelion also secured an exclusive global licence covering its NES™ cathode intellectual property. The technology is being developed for integration into existing lithium-ion and sodium-ion battery manufacturing processes, with the company seeking to reduce the need for changes to established production infrastructure.

Management changes during the period included the appointment of Matt Wood as chief executive officer and Professor Rachid Yazami as Technology Advisor. Founder John Wood transitioned to a Senior Advisor position.

Since the financial year-end, Gelion has entered into a £2.0 million funded development and scale-up agreement with Mitsui Kinzoku. The programme will evaluate NES™ technology for applications including automotive batteries, stationary energy storage, consumer electronics, aerospace and defence.

The company has also signed testing and proof-of-concept agreements with two automotive manufacturers, described as being among the world’s top 15 and top five manufacturers, respectively. The programmes will assess the suitability of NES™ sulfur cathode technology for electric vehicle batteries.

In defence-related development, Gelion completed the Advanced Propulsion Centre-funded ARMD4 programme, which evaluated lithium-sulfur pouch cells incorporating NES™ technology under operating conditions representative of drone missions.

According to the company, testing demonstrated stable cycling and high-power performance under the programme’s specified conditions.

Additional independent testing conducted by the National Laboratory of the Rockies showed that cells retained 92% of their reference capacity when operated at a cycling rate 20 times higher than the reference rate. Gelion said the findings support further evaluation of the technology for defence, aerospace and unmanned aerial vehicle applications.

The group also expanded its intellectual property portfolio with six new patents across the United States, Europe and Asia.

Gelion’s NES™ technology uses sulfur-based cathode materials designed to offer an alternative to conventional battery cathodes containing critical minerals. The company is targeting applications across automotive, industrial, consumer electronics, energy storage and defence markets.

Looking ahead, management is concentrating on progressing customer development programmes, increasing production capabilities and pursuing commercial agreements with battery manufacturers and industrial partners.

The company is seeking to move its NES™ platform from technical validation towards commercial adoption, with ongoing development and testing programmes intended to establish its suitability for different battery applications.

Tavistock Investments Plc (LSE:TAVI) has agreed to sell the business and assets of King Financial Planning for £3 million and entered into an exclusivity arrangement with Atomos regarding the potential disposal of Tavistock Group Holdings, as part of a strategic shift towards technology-enabled financial advice services.

The proposed transaction involving Tavistock Group Holdings, which owns Tavistock Private Client, would involve the disposal of a wealth management business serving higher net worth individuals. Tavistock has granted Atomos a period of exclusivity to pursue the acquisition, although no completed sale has been announced.

The company said the disposals form part of its strategy to move away from certain traditional wealth management activities and concentrate on developing financial services infrastructure designed to reduce the cost of providing regulated retail financial advice.

Tavistock intends to use proceeds from business disposals to support this transition, with investment directed towards asset management capabilities and financial technology partnerships.

A central element of the strategy involves integrating artificial intelligence into financial advisory processes to reduce administrative workloads and operating costs. The company aims to combine technology-based systems with continued adviser involvement and compliance with regulatory requirements.

Tavistock is pursuing this approach through relationships with businesses including Alpha Beta Partners, Lifetime Financial Management and Plus Group. These companies operate across asset management and financial advice, incorporating technology intended to improve operational efficiency.

Management’s stated objective is to establish an advisory model that reduces the cost of delivering financial advice, potentially allowing services to be offered to a broader range of retail clients.

The agreed £3 million disposal of King Financial Planning and the potential sale of Tavistock Group Holdings represent separate transactions. Completion of the latter remains subject to further discussions with Atomos.

Tavistock continues to reposition its operations around asset management and technology-supported financial advice as it progresses its disposal programme.

Titon Holdings (LSE:TON) has reported an 8.1% increase in revenue to £17.1 million for the financial year ended 2026, supported by growth in its mechanical ventilation systems business, while its gross profit margin declined compared with the previous year.

Revenue from mechanical ventilation systems (MVS) increased 18% to £10.1 million, marking a second consecutive year of double-digit growth for the division. The performance reflected increased sales of ventilation products within the residential construction market.

The company’s window and door hardware division, which includes the recently acquired G-Pack business, recorded a 4.2% decline in annual revenue to £7.0 million. However, Titon reported a return to year-on-year growth in the division during the second half of the financial year, ahead of planned product range launches.

Group gross margin decreased to 28.5% from 32.9% in the previous year. Titon attributed the reduction to changes in its sales mix, including a greater contribution from newer mechanical ventilation products carrying initially lower margins, alongside reduced hardware sales volumes.

The company’s cash balance stood at £1.4 million at the end of the financial year, following expenditure that included the £1.0 million acquisition of G-Pack and investment in manufacturing capabilities and product development.

Looking ahead to FY2027, management expects gross margins to improve as product redesign initiatives reduce manufacturing costs and sales of higher-margin products increase.

Titon also plans to transfer G-Pack production to its existing manufacturing facility in Haverhill, with the integration forming part of its operational plans for the coming financial year.

The company’s stated priorities include improving profitability within the mechanical ventilation systems division and returning its window and door hardware business to sustained revenue growth.

Titon supplies ventilation systems and window and door hardware to the residential construction sector, with its product development and manufacturing activities supporting both divisions.

Guardian Metal Resources (LSE:GMET) has announced two senior management appointments as the company progresses development activities at its Pilot Mountain and Tempiute tungsten projects in Nevada, United States.

David Hendriks has been appointed chief operating officer, while Ron Espell will take up the position of vice-president for environment and permitting. Both executives have more than 30 years of experience in the mining industry, including operational and regulatory work in Nevada.

Hendriks, a mining engineer, brings experience in mine development, operations and large-scale expansion projects. His appointment adds operational management expertise as Guardian Metal works towards advancing its tungsten assets into production.

Espell, a geologist and environmental specialist, has experience in environmental management and regulatory permitting. His responsibilities will focus on environmental oversight and permitting activities associated with the company’s Nevada projects.

The appointments form part of Guardian Metal’s preparations for further development at Pilot Mountain and Tempiute, where the company is pursuing opportunities to establish domestic tungsten production.

Guardian Metal is currently undertaking prefeasibility work at Pilot Mountain with support from the US government. The company also holds a listing on the NYSE American.

Pilot Mountain contains one of the largest undeveloped tungsten deposits in the United States, while Tempiute is a former tungsten-producing operation. Both projects form part of the company’s strategy to develop domestic sources of the metal.

Tungsten is used in defence, industrial, technology and energy-related applications. Guardian Metal is seeking to establish a US-based supply of the mineral against a backdrop of Chinese export restrictions and changes in international supply chains.

The company has not provided a revised production timetable or additional financial guidance in connection with the management appointments.