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  • METLEN Signs Second Long-Term Gallium Supply Agreement

    METLEN Signs Second Long-Term Gallium Supply Agreement

    METLEN Energy & Metals (LSE:MTLN) has agreed to supply gallium to a major Japanese chemical company under a long-term agreement covering up to 16% of the annual production planned from its new facility in Greece.

    Financial terms of the agreement were not disclosed and METLEN did not identify the Japanese customer.

    The agreement is the company’s second long-term supply deal for the metal in just over two months. In late July, METLEN announced an agreement to supply up to 25% of the facility’s planned output to a US technology company.

    Together, the two agreements account for up to 41% of the plant’s future annual production capacity before commercial operations have started.

    The facility is being developed with planned annual capacity of 50 metric tons of gallium. Commercial production is scheduled to begin in the third quarter of 2027.

    METLEN said it expects the plant’s entire planned annual capacity to be contracted several months before commercial production begins.

    Further supply agreements are expected, according to information obtained by Investing.com, with potential customers in the US and Japan among those that have expressed interest.

    Greece Facility Targets European Gallium Production

    Gallium is used in high-performance semiconductors, including applications in artificial intelligence infrastructure, power electronics, telecommunications and electric mobility.

    China currently accounts for the majority of global gallium production and has previously introduced export restrictions, contributing to efforts by customers outside China to secure alternative sources of supply.

    According to information obtained by Investing.com, METLEN is expected to establish integrated gallium production in Europe using feedstock from the refinery operated by its wholly owned Aluminium of Greece business.

    “The international response to our gallium project continues to exceed expectations,” Executive Chairman Evangelos Mytilineos said. “The successive commercial agreements we are announcing demonstrate that global industry is actively seeking reliable, high-quality and diversified supply sources.”

    Mytilineos has previously said METLEN also plans to produce other critical raw materials, including scandium and germanium.

    More about METLEN Energy & Metals

    METLEN Energy & Metals operates across the energy and metals sectors, including aluminium production and processing.

    The company is developing gallium production capacity in Greece as part of its activities in critical raw materials.

  • National Grid Raises FY2027 Earnings Outlook After First-Half Performance

    National Grid Raises FY2027 Earnings Outlook After First-Half Performance

    National Grid PLC (LSE:NG.) said it now expects full-year earnings growth to be slightly above its previous guidance following a stronger-than-expected first-half contribution from National Grid Ventures and other activities.

    The UK energy infrastructure group had previously guided to underlying earnings per share growth of between 13% and 15% for the 2027 financial year.

    National Grid said its regulated businesses continue to perform in line with expectations. National Grid Ventures and other activities, however, are expected to contribute approximately £130 million more than previously anticipated during the first half.

    The additional contribution reflects significant one-off fair value gains following two capital market transactions within the NG Partners investment portfolio, as well as higher performance from the group’s interconnectors business.

    Regulated Businesses Track Expectations

    Operating profit from UK Electricity Transmission and UK Electricity Distribution is expected to be broadly evenly divided between the first and second halves of the financial year, consistent with the previous year.

    In the US, regulated operating profit is expected to remain weighted towards the second half due to normal seasonal factors.

    National Grid said its New England operations are expected to return to a more typical seasonal profile following the one-off effect of the Federal Energy Regulatory Commission return-on-equity judgement in the second half of 2026.

    Half-year net debt is expected to be broadly consistent with the company’s full-year guidance after taking into account the Joulent investment and the seasonal timing of operating cash flows.

    National Grid is scheduled to report its half-year results on 5 November.

    More about National Grid

    National Grid PLC is an energy infrastructure company operating electricity transmission and distribution networks in the UK and regulated electricity and gas networks in the US.

    The group also operates National Grid Ventures, which includes businesses and investments outside its core regulated network operations.

  • EnSilica Reports 53% Revenue Growth as ASIC Production Expands

    EnSilica Reports 53% Revenue Growth as ASIC Production Expands

    EnSilica (LSE:ENSI) reported revenue of £27.8 million for the financial year ended May 2026, an increase of 53%, as the semiconductor company expanded its application-specific integrated circuit design and supply activities.

    EBITDA for the year reached £5.9 million as EnSilica continued its transition from a design services business towards a model combining semiconductor design with the supply of chips to customers.

    The company now has five ASICs in volume production and a further 14 in the design phase. EnSilica expects its production portfolio to increase the proportion of recurring supply revenue generated by the business over time.

    During the year, the company completed two oversubscribed equity fundraisings that raised a combined total of almost £25 million. The proceeds are being used to expand engineering capacity and support the development of its recurring revenue activities.

    Automotive and Satellite Contracts Secured

    EnSilica secured a $75 million automotive contract with a German tier-one supplier during the year.

    The company also signed two satellite chip development agreements that it said could generate more than $50 million of revenue from 2030.

    EnSilica expanded its European operations with the establishment of a Space and Communications Centre of Excellence in Milan.

    The company entered FY27 with more than 80% of its anticipated revenue for the year covered by existing contracts.

    EnSilica is targeting annual revenue of £100 million and an EBITDA margin of 30% over the medium term. These figures represent management targets rather than financial guidance for a specific reporting period.

    More about EnSilica

    EnSilica plc is a fabless semiconductor company specialising in application-specific integrated circuits.

    Its capabilities include RF, mmWave, mixed-signal and complex digital integrated circuit design, with customers across the space and satellite communications, industrial, automotive and photonics markets.

    The company uses its portfolio of intellectual property and silicon platforms to develop and supply ASICs for customer applications.

  • Tower Resources Secures One-Year Extension for Cameroon Thali Licence

    Tower Resources Secures One-Year Extension for Cameroon Thali Licence

    Tower Resources (LSE:TRP) has secured a formal one-year extension to the initial exploration period for its Thali offshore licence in Cameroon, extending the deadline to October 2027.

    The extension was granted to Tower’s Cameroon-focused subsidiary and provides additional time for the company to complete its planned exploration activities at the licence.

    Tower is now working to finalise regulatory approvals and complete the proposed farm-out of a 42.5% interest in Thali to Prime Global Energies.

    The farm-out is intended to contribute towards funding and sharing the risks associated with the planned drilling programme, although completion remains subject to the outstanding requirements.

    NJOM-3 Drilling Targeted for Second Quarter of 2027

    Tower plans to contract a drilling rig and drill the NJOM-3 well during the second quarter of 2027.

    The company intends to use the well to assess the presence of additional reservoirs at Thali. The drilling timetable remains a company plan and is dependent on the necessary preparations and approvals being completed.

    If drilling is successful, Tower plans to move towards a multi-well development and the introduction of a mobile production unit in 2028.

    These development plans remain contingent on the results of the NJOM-3 well and subsequent project decisions.

    More about Tower Resources

    Tower Resources is an AIM-listed oil and gas company focused on opportunities in Africa.

    Its portfolio includes the Thali licence in Cameroon, where the company is pursuing a potential short-cycle development, alongside exploration interests in Namibia and South Africa.

    The company’s activities in Namibia and South Africa include the acquisition and evaluation of 3D seismic data to assess exploration prospects.

  • Premier African Minerals Raises £1.2 Million for Zulu Lithium Restart

    Premier African Minerals Raises £1.2 Million for Zulu Lithium Restart

    Premier African Minerals (LSE:PREM) has raised approximately £1.2 million through a direct subscription of more than 27.5 billion new shares to provide working capital for the planned restart of operations at its Zulu Lithium and Tantalum Project in Zimbabwe.

    The company intends to use the proceeds to remobilise mining activities, restart the processing plant and manage payments to key creditors.

    The new shares are expected to be admitted to trading on AIM on or around 9 October 2026.

    Initial 15-Day Processing Campaign Planned

    Premier plans to begin with a 15-day operating campaign using approximately 13,000 tonnes of ore currently held on the run-of-mine pad at Zulu.

    The campaign will focus on assessing plant stability, recoveries and the quality of spodumene concentrate produced.

    Premier said the results will be used to inform decisions on whether to extend processing operations and restart mining activities.

    The company also expects the campaign to provide the board, shareholders and prospective funding partners with additional information on the project’s operational performance.

    Future funding and development plans for Zulu will be considered in light of the results from the initial operating campaign.

    More about Premier African Minerals

    Premier African Minerals is a multi-commodity mining and natural resource development company focused on Southern Africa.

    Its principal assets include the Zulu Lithium and Tantalum Project and RHA Tungsten Project in Zimbabwe. The company also has interests covering commodities including rare earth elements, lithium, tantalum and gold across Zimbabwe and Mozambique.

    Its portfolio includes projects at different stages of development, ranging from exploration assets to projects targeting production.

  • Quartix Reports 11% Increase in Annualised Recurring Revenue

    Quartix Reports 11% Increase in Annualised Recurring Revenue

    Quartix (LSE:QTX) said annualised recurring revenue increased by £3.9 million to £39.7 million, representing growth of 11%, as the vehicle tracking and telematics provider maintained subscription growth across its core markets.

    The company expects full-year revenue to be in line with market expectations, while adjusted profit before tax is forecast to be modestly ahead of expectations.

    Quartix said the anticipated profit performance partly reflects cost savings that had originally been expected to be reinvested during the current year. That investment has now been deferred to 2027.

    For the first nine months of the year, the company generated estimated free cash flow of approximately £4.7 million. Quartix ended the period with cash of £5.3 million and no debt.

    Customer and Subscription Numbers Increase

    Quartix reported trailing 12-month growth of 6% in its customer base and 7% in subscriptions.

    The company recorded growth in France, Italy and Spain, while performance in the US was broadly flat. Net revenue retention was 97.3%.

    Quartix also reported customer uptake of its new video telematics product in the UK and is preparing to introduce the offering more widely across its European markets.

    Management said it remains confident that the company will meet its full-year expectations.

    Separately, Quartix has appointed BDO as its external auditor following a competitive tender process. BDO replaces PKF Littlejohn.

    More about Quartix

    Quartix Technologies provides subscription-based vehicle tracking software and telematics services to commercial fleet operators across the UK, Europe and the US.

    The company generates recurring revenue from its subscription base and provides fleet monitoring and video telematics products.

  • Sabien Ends M2G Talks and Suspends City Oil Field Strategic Review

    Sabien Ends M2G Talks and Suspends City Oil Field Strategic Review

    Sabien Technology Group (LSE:SNT) has ended commercial discussions with Haydale and SaveMoneyCutCarbon regarding a proposed UK distribution and implementation agreement for its M2G boiler optimisation technology.

    The discussions had been continuing for an extended period but did not result in agreement on binding commercial and legal terms.

    Sabien said it will instead pursue an independent growth strategy for M2G while seeking to work with a broader range of commercial partners.

    The company said the decision provides greater clarity for its strategy as it seeks to develop an asset-light technology business and expand its commercial partnerships.

    City Oil Field Review Suspended

    Sabien has also suspended the strategic review of its interests in b.grn Group and City Oil Field, or COF, which had previously been announced by the company.

    The decision follows what Sabien described as increasing commercial activity surrounding COF’s Regenerated Green Oil technology in Canada and the north-eastern United States.

    The company said new business development activity is taking place in North America, while prospective Canadian counterparties are expected to visit COF’s facility in South Korea.

    Development costs associated with the project are currently being funded at the b.grn level. Sabien said this means its shareholders retain exposure to the potential development of the COF technology without additional near-term funding requirements from Sabien.

    The company has not committed to additional capital investment and said it retains flexibility over whether it participates in future funding.

    More about Sabien Technology

    Sabien Technology Group plc is a UK-listed energy efficiency technology company.

    Its M2G intelligent boiler optimisation technology is designed to reduce energy consumption and carbon emissions from commercial heating systems and improve building energy efficiency.

    Sabien holds the London Stock Exchange’s Green Economy Mark, which identifies companies and funds deriving at least half of their revenues from products and services contributing to the global green economy.

  • Ithaca Energy Agrees $860 Million Acquisition of Suncor Canadian Offshore Assets

    Ithaca Energy Agrees $860 Million Acquisition of Suncor Canadian Offshore Assets

    Ithaca Energy (LSE:ITH) has agreed to acquire a portfolio of conventional offshore oil assets from Suncor Energy for $860 million in upfront cash, expanding the company’s operations beyond the UK into Offshore East Coast Canada.

    The transaction also includes contingent consideration of up to $250 million.

    The portfolio comprises a 48% operated interest in the Terra Nova field and non-operated interests in the White Rose fields, located in shallow waters offshore Newfoundland and Labrador.

    Ithaca said the acquisition will add an estimated 103 million barrels of oil equivalent of proved and probable, or 2P, reserves.

    The acquired assets are expected to contribute average production of approximately 30,000 barrels of oil equivalent per day between 2027 and 2031. Production is expected to reach a peak of up to 40,000 boe/d in 2029.

    Based on the addition of the Canadian portfolio, Ithaca expects its medium-term group production to reach between 140,000 and 150,000 boe/d.

    Management expects the transaction to be immediately accretive to the company’s cash flow and dividends. These remain company expectations and will depend on the future financial and operating performance of the acquired assets.

    Ithaca Expands Beyond UK Offshore Market

    The acquisition marks Ithaca’s expansion into Offshore East Coast Canada after historically concentrating its operations on the United Kingdom Continental Shelf.

    The company said the transaction would make it the fifth-largest operator offshore Canada and provide a platform from which it could pursue further acquisitions and organic development opportunities in North America.

    The portfolio includes operated and non-operated interests in producing conventional offshore assets and increases the geographical diversification of Ithaca’s production and reserves.

    More about Ithaca Energy

    Ithaca Energy PLC is an oil and gas exploration and production company focused on conventional offshore resources.

    The company has historically concentrated its portfolio on the United Kingdom Continental Shelf, where it operates and holds interests in offshore fields.

    Its portfolio includes shallow-water assets and developments using floating production, storage and offloading infrastructure.

  • Bluebird Mining Ventures Shifts Focus to Operating Revenue From Energy and Metal Harvesting

    Bluebird Mining Ventures Shifts Focus to Operating Revenue From Energy and Metal Harvesting

    Bluebird Mining Ventures Ltd (LSE:BMV) has said it is moving its focus from restructuring and capital deployment towards generating operating revenue through its Energy Harvesting and Metal Harvesting businesses.

    As part of the change, the company will stop publishing standalone monthly net asset value updates. Bluebird said it will instead focus its reporting on revenue growth, recurring income and operational performance, with treasury activity becoming a secondary measure of progress.

    The company is pursuing capital-light and zero-capex commercial structures across its two operating businesses.

    Energy Harvesting Begins Generating Bitcoin Revenue

    Within Energy Harvesting, Bluebird said its initial Bitcoin mining stream in Texas has started generating revenue denominated in Bitcoin.

    According to the company, revenue from the operation is currently above its reported electricity costs.

    Bluebird is also prioritising the deployment of 750 miners that it owns under a proposed structure that would involve no capital expenditure or operating expenditure for the company.

    The group said it terminated three hashrate contracts after determining that they were uneconomic. Bluebird said its experience with the contracts has informed its approach to risk management within the Energy Harvesting business.

    Metal Harvesting Targets Gold Flows

    Bluebird is also progressing its Metal Harvesting business, through which it is seeking commercial structures that provide access to gold production or other gold-related economic flows.

    The company said work is progressing at the Santa Teresa Gold Project in Mexico as part of these activities.

    Bluebird plans to publish further information covering its strategy for the Energy Harvesting and Metal Harvesting businesses. It also intends to provide updates on its responsible gold sourcing framework and treasury policy.

    An Investor Day is planned for later in October, when management intends to provide further details on its plans for the two operating platforms.

    More about Bluebird Mining Ventures

    Bluebird Mining Ventures Ltd is an LSE-listed mining, streaming and treasury company operating through its Energy Harvesting and Metal Harvesting businesses.

    The company is pursuing capital-light commercial structures involving energy and metals, with the aim of generating recurring economic flows. Its treasury activities now have a supporting role within the broader operating strategy.

  • BT Group Acquires TalkTalk and PlatformX in Deal With £400 Million FY27 Cash Impact

    BT Group Acquires TalkTalk and PlatformX in Deal With £400 Million FY27 Cash Impact

    BT Group (LSE:BT.A) has acquired TalkTalk Telecommunications and PlatformX Communications out of administration on a debt-free basis, with the transaction expected to have a total cash impact of approximately £400 million in FY27.

    The acquired businesses provide retail and wholesale telecommunications services to around 2.5 million customers. BT said the transaction is intended to maintain continuity of service for those customers.

    The approximately £400 million FY27 cash impact includes acquisition consideration, transaction and administration costs, working capital requirements and an expected trading loss of around £60 million. It also incorporates receipts that Openreach would otherwise have received.

    TalkTalk’s operations generated approximately £1.2 billion of revenue over the past 12 months but are currently loss-making.

    BT said it expects the acquired operations to become value accretive over time as it stabilises and integrates the businesses. This remains a management expectation rather than an established financial outcome.

    The transaction remains subject to regulatory review. BT and the acquired businesses will continue to operate separately and compete with each other until that process has concluded.

    BT plans to report the acquired operations as a separate business segment.

    The group maintained its commitment to a BBB+/Baa1 credit rating and said its existing FY27 and multi-year financial outlook remains unchanged, excluding the effects of the acquisition.

    BT said it will provide further financial information later in the fiscal year once acquisition accounting has been completed.

    Management Changes Announced

    BT has appointed Clive Selley to oversee the stabilisation of the acquired businesses and lead integration planning.

    Martijn Blanken will replace Selley as chief executive of BT International. Blanken will also continue as CEO-designate of BT’s planned international joint venture with Verizon.

    BT said the acquisition maintains services used by households, businesses and public-sector organisations and reduces risks to service continuity that could have resulted from TalkTalk entering administration.

    The company also expects TalkTalk customers to gain access to a broader range of BT network infrastructure and products following integration, subject to completion of the regulatory process.

    More about BT Group

    BT Group plc is a UK telecommunications and digital services company operating through its Consumer, Business and Openreach divisions.

    Its brands include BT, EE and Plusnet, while Openreach operates fixed-access network infrastructure used by communications providers across the UK.

    BT is investing more than £40 billion between 2020 and 2030 in areas including full-fibre broadband and 5G infrastructure.