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Kodal Minerals (LSE:KOD) continued to expand production and exports from its Bougouni Lithium Project in Mali during the second quarter of 2026, while using stronger cash generation to begin repaying project debt, highlighting the operation’s growing contribution to the global battery materials supply chain.

For the three months ended 30 June 2026, the Bougouni project produced 26,174 dry metric tonnes of spodumene concentrate at an average grade of 5.34% Li₂O. This lifted total production for the year to date to 53,195 tonnes. Output was temporarily affected by crushing circuit equipment failures during May, but maintenance work completed in June restored processing capacity, while additional mining equipment improved productivity at the Ngoualana open pit.

Commercial performance also continued to strengthen. More than 69,000 tonnes of spodumene concentrate have now been exported from Bougouni, with the third shipment achieving an implied SC6 benchmark price of US$2,304 per tonne. A fourth shipment of approximately 24,200 tonnes departed Côte d’Ivoire shortly after the end of the reporting period.

Strong operating margins enabled project operator Les Mines de Lithium de Bougouni SA (LMLB) to make an initial US$13 million loan repayment to Kodal Mining UK Limited (KMUK). The repayment allowed KMUK to reduce the majority of its outstanding interest-bearing debt owed to project partner Hainan Mining, strengthening the project’s financial position.

Management said Bougouni remains on track to maintain its regular export programme, with shipments of between 15,000 and 20,000 tonnes expected every six to eight weeks. Preparations are also underway to support operations through the rainy season and maintain stable production and cash flow. The company reported no lost-time injuries during the quarter and continued environmental and community engagement work linked to the planned Phase Two flotation plant and the proposed expansion of the Boumou prospect.

Although Kodal continues to advance operationally, its broader financial outlook remains constrained by the absence of reported revenue, ongoing operating losses and negative free cash flow. However, the company maintains a debt-free balance sheet at the corporate level with substantial equity, providing financial stability as Bougouni continues ramping up production.

More about Kodal Minerals

Kodal Minerals is an AIM-listed mining company focused on lithium production and mineral exploration across West Africa. Its flagship Bougouni Lithium Project in southern Mali produces spodumene concentrate for export to Hainan Mining in China, supporting demand from the global electric vehicle and battery materials industries.

The company holds a 49% interest in Kodal Mining UK Limited, which owns 65% of Les Mines de Lithium de Bougouni SA, the operator of the Bougouni project. Through this structure, Kodal oversees mining and processing activities while Hainan Mining provides strategic funding support and serves as the project’s principal offtake partner.

Operations currently centre on the Ngoualana open pit and the Stage One Dense Media Separation processing plant. The company is also progressing plans for a second-phase flotation plant to increase production capacity while continuing environmental studies and community consultation programmes to support future expansion.

Tekcapital’s (LSE:TEK) portfolio company Vesari Inc. has appointed leading geothermal specialist Dr. Joseph N. Moore to its newly established Science Advisory Board, reinforcing its technical capabilities as it advances the development of geothermal-powered artificial intelligence infrastructure.

Dr. Moore brings more than five decades of experience in geothermal energy, including leadership of the U.S. Department of Energy’s Frontier Observatory for Research in Geothermal Energy (FORGE) programme and involvement in major enhanced geothermal system projects. His expertise in subsurface geology and geothermal reservoir development is expected to support Vesari’s long-term clean energy strategy.

The appointment forms part of Vesari’s wider effort to build a multidisciplinary Science Advisory Board with expertise spanning geothermal energy, hyperscale computing infrastructure, thermal management and low-Earth-orbit satellite laser communications. The company believes this combination of specialist knowledge will help accelerate the development of its integrated technology platform.

Vesari is developing proprietary geothermal-powered AI campuses designed to provide continuous carbon-free electricity for hyperscale data centres without relying on conventional electricity grids. The company believes its approach could improve the efficiency, reliability and long-term economics of AI computing infrastructure while supporting the growing demand for sustainable data centre capacity. As Tekcapital holds a 51% stake in Vesari, continued progress could enhance the long-term value of its investment portfolio.

Tekcapital’s broader outlook remains affected by weaker financial performance, including lower revenue, ongoing losses and negative operating and free cash flow. However, the company maintains a debt-free balance sheet, providing financial stability despite challenging valuation metrics and weak technical trading signals.

More about Tekcapital

Tekcapital plc is a UK-based intellectual property investment company focused on identifying, commercialising and investing in technologies developed by universities and corporate research organisations. Listed on AIM, the company builds value through a portfolio of innovative businesses operating across multiple technology sectors.

Among its investments is a 51% holding in Vesari Inc., which is developing geothermal-powered, behind-the-meter hyperscale AI computing campuses designed to deliver reliable, carbon-free energy for next-generation data centre infrastructure.

Thalia Therapeutics (LSE:THAT) is strengthening its position in the RNA therapeutics sector through the proposed acquisition of Sanmirna Therapeutics and an oversubscribed £2.75 million fundraising, supporting its transition into a clinical-stage biotechnology company.

The proposed transaction will add miRisten, a Phase 1 microRNA therapy for Acute Myeloid Leukaemia (AML), to Thalia’s development portfolio. Combined with the company’s proprietary Nuvec delivery platform and its cardiovascular small interfering RNA (siRNA) programme, the acquisition is expected to create a broader pipeline focused on oncology and cardiovascular disease.

Following the successful fundraising, Thalia plans to use the proceeds to support key development milestones. Its immediate priorities include completing the acquisition of Sanmirna, advancing the ongoing Phase 1 trial of miRisten, with topline data expected during the first half of 2027, and progressing its cardiovascular candidate towards investigational new drug (IND)-enabling studies.

Management believes these milestones will enhance the company’s long-term growth prospects and strengthen its position within the rapidly expanding global RNA therapeutics market, where it aims to build a diversified clinical-stage pipeline addressing areas of significant unmet medical need.

Despite having no debt, Thalia’s financial outlook continues to reflect the characteristics of a development-stage biotechnology company, including ongoing losses and continued cash burn. However, recent share price performance has remained above key technical moving averages, providing some positive momentum, while valuation metrics remain limited by the company’s lack of profitability and the absence of a dividend.

More about Thalia Therapeutics plc

Thalia Therapeutics plc is an AIM-listed biotechnology company developing RNA-based medicines and drug delivery technologies targeting oncology and cardiovascular diseases. Its portfolio includes the proprietary Nuvec delivery platform, a cardiovascular siRNA programme and, subject to completion of the proposed acquisition, the Phase 1 microRNA therapy miRisten for the treatment of Acute Myeloid Leukaemia.

The company’s strategy is focused on building a diversified clinical-stage RNA therapeutics pipeline that combines innovative delivery technology with high-value therapeutic programmes. By targeting large global markets with significant unmet medical needs, Thalia aims to establish itself as a leading developer of next-generation RNA-based treatments.

Eagle Eye (LSE:EYE) delivered better-than-expected results for the 2026 financial year, supported by strong growth in recurring revenue, expanding adoption of its AI-powered platform and continued operational efficiency.

Annual recurring revenue increased 31% to £44.5 million, while underlying revenue excluding National Retail Solutions (NRS) rose 21%. Recurring revenue accounted for 87% of total group revenue, highlighting the strength and scalability of the company’s software-as-a-service (SaaS) business model.

Adjusted EBITDA reached £9.8 million, representing a margin of 21% and exceeding market expectations as cost discipline and efficiency initiatives continued to support profitability. Eagle Eye also strengthened its balance sheet, with net cash increasing 31% to £16.1 million, providing additional capacity to invest in sales, product innovation and artificial intelligence capabilities.

The company secured a number of significant commercial agreements during the year, including new multi-year contracts with easyJet, Subway, a leading UK health and beauty retailer and several European original equipment manufacturer (OEM) customers. Existing partnerships were also extended through renewals with Woolworths and Auchan, while relationships with Carrefour, Asda and Morrisons continued to expand, helping net revenue retention remain at 111%.

Revenue generated by the EagleAI platform grew 34% during the year. Management believes the combination of growing recurring revenue, an expanding partner ecosystem and continued customer wins positions the business to return to double-digit revenue and EBITDA growth in FY27 while progressing towards its medium-term targets of more than £100 million in annual revenue and an EBITDA margin exceeding 30%.

Although Eagle Eye continues to benefit from strong financial performance, improving margins and positive technical momentum, its valuation remains elevated with a high price-to-earnings ratio. Technical indicators also suggest the shares are in overbought territory, which could increase the potential for short-term volatility despite the company’s positive long-term outlook.

More about Eagle Eye Solutions

Eagle Eye Solutions Group PLC develops AI-powered loyalty and promotional technology that enables consumer-facing businesses to deliver personalised offers and customer engagement across digital channels. Its cloud-based platform serves major retailers, quick-service restaurants, airlines and health and beauty brands through a recurring SaaS revenue model.

The company’s EagleAI and AIR platforms help businesses manage loyalty programmes, digital promotions and customer data at scale. Through partnerships with global systems integrators, OEMs and technology providers, including Deloitte Digital Central Europe, Commerce Architects and Equal Experts, Eagle Eye continues to expand its international reach and strengthen its position in the growing digital loyalty market.

Total Graphite plc (LSE:TGR) has temporarily halted production at its Vatomina graphite mine in Madagascar as part of a Strategic Portfolio Optimisation Programme aimed at strengthening its asset base and supporting long-term growth across its operations.

The company said it will redirect capital towards a targeted drilling programme, updates to the mine plan and processing plant improvements at Vatomina. These initiatives are intended to reduce operational risk, improve future production efficiency and establish a stronger platform for the next phase of graphite development.

Alongside the optimisation work in Madagascar, Total Graphite has elevated the updated Definitive Feasibility Study for its Montepuez project in Mozambique to a key strategic priority. The project is planned to produce 50,000 tonnes of graphite annually during its initial development phase and is expected to play a central role in the company’s long-term expansion plans.

The strategic review has also accelerated discussions with financial institutions and potential strategic partners as Total Graphite explores funding options, including offtake-backed financing, to support the development of its graphite portfolio and future growth initiatives.

More about Total Graphite plc

Total Graphite plc is a specialist graphite developer focused on building an integrated mine-to-materials supply chain to support the global energy transition. The company’s core assets are located in Madagascar and Mozambique, where it is developing natural flake graphite projects for international markets.

Its portfolio includes the producing Vatomina mine in Madagascar and the large-scale Montepuez project in Mozambique. Beyond mining, Total Graphite aims to expand into downstream processing to supply graphite for battery technologies, energy storage systems and other advanced materials applications driven by growing demand for critical minerals.

Arkle Resources PLC (LSE:ARK) has expanded its maiden reverse circulation drilling programme at the Erongo Uranium Project in Namibia after visually identifying carnotite in several drill holes, marking an encouraging step in the company’s initial exploration campaign.

The programme has now completed 52 drill holes covering 1,017 metres across paleochannel targets within Exclusive Prospecting Licence (EPL) 8995. The drilling follows Phase 1 geophysical surveys that outlined targets associated with both paleochannel-hosted uranium deposits and uranium-bearing leucogranite (ULG), allowing Arkle to evaluate two distinct styles of uranium mineralisation across the project area.

Carnotite, the primary uranium-bearing mineral commonly associated with shallow uranium deposits in the region, has been observed in drill chips from three shallow holes. While the visual identification is considered encouraging, laboratory analysis will be required to determine uranium grades and confirm the significance of the mineralisation.

Strong operational progress has enabled the company to expand the current drilling programme. Additional work will include step-out drilling along the eastern paleochannel, an initial fence of holes across the western paleochannel and the first reconnaissance drilling of the project’s main ULG target. Gamma-ray spectrometry will be used to prioritise which of the 1,016 collected samples are submitted for laboratory testing, with assay results expected in early September.

Although exploration activity continues to advance, the company’s broader outlook remains constrained by the absence of revenue, ongoing operating losses and continued cash burn. Technical indicators present a mixed picture, with longer-term trends proving more resilient than recent momentum, while valuation remains limited by the company’s loss-making position and lack of a dividend.

More about Arkle Resources PLC

Arkle Resources PLC is a London-listed exploration company focused on uranium and other energy metals. Its principal uranium asset is the Erongo Uranium Project in Namibia, where the company is targeting both shallow paleochannel-hosted uranium deposits and uranium-bearing leucogranite mineralisation within the prolific Erongo uranium province.

Exploration is centred on Exclusive Prospecting Licence EPL8995, where geophysical surveys have identified multiple priority drill targets. Arkle’s strategy is to rapidly assess these prospects through reverse circulation drilling and complementary exploration work, with the objective of defining economically significant uranium mineralisation across the licence area.

Georgina Energy plc (LSE:GEX) has approved its first share-based incentive awards for senior management since completing its initial public offering in July 2024, granting a total of 9,250,000 ordinary shares to directors and key executives under its long-term incentive programme.

The awards, which are being issued at no cost to recipients, represent approximately 4.3% of the company’s existing issued share capital. Allocations have been made to the chairman, chief executive officer, chief operating officer, chief financial officer, a non-executive director and the company secretary as part of the group’s strategy to align management incentives with long-term shareholder value.

To complete the awards, Georgina Energy will issue 9,250,000 new ordinary shares, which are expected to be admitted to trading on the London Stock Exchange on 22 July 2026. Following the admission, the company’s total issued share capital will increase to 222,761,707 ordinary shares.

While the new share issuance will result in modest dilution for existing shareholders, the company said the enlarged share capital will become the reference figure for investors calculating disclosure obligations under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

The company’s broader outlook continues to be constrained by the absence of revenue, ongoing losses, negative cash flow, negative equity and rising debt levels. Although recent technical indicators have been more supportive, valuation remains challenged while the business continues to operate without profitability or a dividend.

More about Georgina Energy plc

Georgina Energy plc is a UK-listed energy company whose ordinary shares trade on the London Stock Exchange’s Equity (Transition) segment. Since listing in July 2024, the company has sought to align executive remuneration with long-term shareholder interests through the use of equity-based incentive schemes.

Its governance framework includes a formal long-term incentive programme established at the time of its IPO, with share awards designed to encourage long-term value creation. As a listed company, Georgina Energy is also subject to the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, which govern reporting obligations relating to share capital and director dealings.

Amigo Resources PLC (LSE:AMGO) has appointed mining industry executive Nathan Boom as its new Chief Executive Officer, with effect from 17 July 2026, as the company strengthens its leadership team to support the next stage of growth across its African operations.

Boom will report directly to Executive Chair Craig Ransley but will not join the company’s board. As part of his remuneration package, he will receive 10,000,000 fully paid ordinary shares, aligning his interests with those of shareholders as Amigo progresses its development strategy.

The leadership reshuffle will see former Chief Executive Officer Nicholas Beal move into the roles of Executive Director and Company Secretary. In his new position, Beal will focus on corporate governance, regulatory compliance and company secretarial responsibilities.

Chair Craig Ransley said the combination of Boom’s commercial and corporate experience with the operational expertise of African Mining Operations CEO Anil Kumar will strengthen the company’s ability to advance its projects towards commercial production. Management believes the revised leadership structure will support Amigo’s ambitions for accelerated growth across its African mining portfolio.

The company also highlighted Boom’s previous achievements at TerraCom, where he played a key role in executing major mining acquisitions and corporate transactions that contributed to significant growth in the company’s market capitalisation. His financial and strategic experience is expected to enhance Amigo’s operational execution as it develops its mining assets.

Despite the management changes, the company’s broader outlook continues to reflect financial challenges, including a weakened revenue base, inconsistent profitability, periods of negative equity and recent cash outflows. Technical indicators also remain subdued, although oversold conditions provide some support, while valuation metrics remain constrained by negative earnings and the absence of a dividend yield.

More about Amigo Resources PLC

Amigo Resources PLC is a London-listed mining company focused on developing gold and rare earth projects across Africa, with principal operations in Tanzania and Mauritania. The company is incorporated in England and Wales and trades on the Main Market of the London Stock Exchange.

Its strategy is centred on advancing high-potential resource assets through exploration, development and eventual production, with a focus on building long-term value from mining opportunities in emerging African jurisdictions.

Bridgepoint Group plc (LSE:BPT) reported record results for the first half of 2026, supported by strong fundraising activity, continued growth in fee-paying assets under management and higher performance-related earnings. Underlying EBITDA increased 77.6% to £227.3 million, while fee-paying assets under management rose 32.7% to $58.4 billion.

The private markets investment firm also recorded significant capital activity during the period, returning a record €16.6 billion to investors while raising €26 billion towards its €28 billion fundraising target for the end of 2026. The results underline continued demand for Bridgepoint’s investment strategies across private equity, infrastructure, credit and real estate.

As part of its long-term growth strategy, Bridgepoint agreed to acquire Kayne Anderson Real Estate, a transaction that is expected to significantly strengthen its real assets platform and create a more balanced distribution of assets under management between Europe and the United States. The acquisition represents another step in the company’s expansion across global private markets.

Although exceptional costs increased due to acquisition-related activity, Bridgepoint maintained strong underlying profitability and declared an interim dividend of 4.8 pence per share. Management also reaffirmed its outlook for continued high-margin growth as the business expands its global investment platform.

While the company has strengthened its balance sheet through lower debt levels and improved cash generation, recent revenue and earnings trends, weaker technical indicators and a relatively high price-to-earnings ratio suggest investors may continue to monitor valuation closely despite the group’s strong operational momentum.

More about Bridgepoint Group Plc

Bridgepoint Group plc is a listed private markets investment company specialising in middle-market opportunities across private equity, infrastructure, private credit and real estate. The firm generates recurring management fees and performance income from a diversified investment platform serving institutional investors around the world.

With operations spanning Europe and North America, Bridgepoint continues to broaden its global footprint through strategic acquisitions and fundraising initiatives. Its growing exposure to real assets complements its established private equity business and supports its long-term strategy of building a diversified global private markets platform.

Ibstock Plc (LSE:IBST) has confirmed that independent non-executive director Adepeju Adebajo will leave the board on 23 September 2026 after deciding to pursue new opportunities, bringing to a close a tenure that began in 2021.

Chair Richard Akers thanked Adebajo for her contribution to the company during her time on the board, recognising her role in supporting Ibstock’s governance and strategic oversight.

The company’s Nomination Committee has started the process of identifying a replacement and will provide a further update once a new independent non-executive director has been appointed. Ibstock said the transition forms part of its ongoing board succession planning and is not expected to affect day-to-day operations.

While the company continues to prepare for a leadership transition at board level, its broader outlook remains mixed. Financial performance has been pressured by declining revenue over recent years, weaker profitability and negative free cash flow during 2025. Although management has pointed to an expected recovery in the second half of 2026, supported by lower capital expenditure, challenges remain around margins, return on capital employed and working capital management.

From a market perspective, the shares continue to trade below key moving averages, reflecting weak technical momentum. However, a dividend yield of around 3.05% provides some valuation support for investors.

More about Ibstock

Ibstock Plc is a UK-listed manufacturer of building materials serving the construction and infrastructure sectors. The company supplies a wide range of products to residential, commercial and infrastructure projects and is supported by a board of executive and independent non-executive directors responsible for overseeing strategy, governance and risk management.

Its corporate governance framework follows UK listing requirements and includes several board committees, including the Nomination Committee, which is responsible for director appointments, succession planning and maintaining an appropriate balance of skills and experience across the board.