Angus Energy (LSE:ANGS) has reached an agreement in principle with its three main creditor groups—Trafigura, ORRI noteholders and Forum Energy Services—to restructure its existing debt obligations. The proposed arrangement, which remains subject to final legal documentation and shareholder approval, is intended to materially improve the company’s balance sheet, enhance liquidity and create a more sustainable long-term capital structure.
The parties are currently progressing toward binding legal agreements, with completion expected within the coming weeks. During this period, the company is continuing to manage working capital closely in cooperation with its lenders. Trading in Angus Energy’s shares on the AIM market will remain suspended until the restructuring process is completed, reflecting the significance of the transaction for the company’s financial position and strategic direction.
The company’s outlook remains shaped by challenging financial performance, including falling revenues and declining profitability. Technical indicators currently suggest neutral market momentum, while valuation metrics appear weak due to negative earnings. Nevertheless, recent corporate developments—including restructuring efforts and operational initiatives—offer potential catalysts that could support longer-term recovery and growth.
More about Angus Energy
Angus Energy is a UK-based independent oil and gas company listed on the AIM market, focusing on onshore production. It is currently the largest onshore gas producer in the UK and owns 100% of the Saltfleetby Gas Field.
In addition to Saltfleetby, the company holds majority interests in the Brockham and Lidsey oil fields and a 25% stake in the Balcombe licence. Angus Energy operates all of the assets in which it has an interest, concentrating on maximising production and operational efficiency across its portfolio.
Robinson plc (LSE:RBN) has finalised the disposal of roughly 1.3 acres of surplus land at its Walton Works site, marking another step in its plan to unlock value from non-core property assets. After the buyer covered final transaction costs totalling £412,335, the company received net proceeds of £616,665. The land had a book value of £540,000 at the end of 2025.
The site had limited use, producing only about £7,000 in rental income during 2025. Robinson said the proceeds from the sale will be applied toward lowering its bank borrowings. The disposal forms part of a broader strategy to sell surplus property assets and use the funds to strengthen the balance sheet while continuing to invest in the group’s core packaging activities.
Management reiterated that future proceeds from non-core property sales will similarly be directed toward debt reduction and supporting the expansion of its packaging operations. The approach reflects the company’s focus on streamlining its asset base while prioritising growth in its primary manufacturing business.
Robinson’s overall outlook reflects a mixed financial picture. The group benefits from a solid balance sheet and positive operating cash flow, though recent earnings and free cash flow have shown some volatility. Valuation metrics remain attractive, supported by a low price-to-earnings ratio and a strong dividend yield, while technical indicators currently remain weak.
More about Robinson
Robinson plc is a UK-based manufacturer of custom packaging solutions, specialising in injection- and blow-moulded plastic packaging as well as rigid paperboard luxury packaging. The company supplies major fast-moving consumer goods brands across sectors including food, homecare, personal care and premium gifting.
Robinson operates manufacturing facilities in the UK, Poland and Denmark and employs around 400 people. Alongside its packaging operations, the group continues to run a programme to dispose of surplus property assets as part of its ongoing effort to optimise its balance sheet and focus on core business growth.
Altona Rare Earths (LSE:REE), a London-listed exploration company focused on African critical minerals—including rare earth elements, fluorspar, gallium, copper and silver—is progressing development of its multi-commodity Monte Muambe project in Mozambique. The project holds a 25-year mining licence and is currently benefiting from U.S.-supported prefeasibility studies. Alongside this work, the company is pursuing commercial-scale fluorspar production and assessing the potential to recover gallium as a by-product, while also exploring copper-silver prospects in Botswana and reviewing additional project opportunities.
The company has also obtained a secondary quotation on the OTCQB Venture Market in the United States under ticker ANRCF, a step intended to broaden its exposure to North American investors and connect more closely with the U.S. critical minerals supply chain. The move follows the award of a grant from the U.S. Trade and Development Agency and comes at a time when prices for rare earth elements and gallium remain strong. The dual listing supports Altona’s strategy to develop partnerships in the U.S. and integrate more closely with Western supply chains, while continuing resource definition and metallurgical testing at Monte Muambe to reduce project risk and enhance value.
Altona is further evaluating downstream opportunities, ranging from mineral processing and separation to potential involvement in magnet manufacturing and other value-added activities linked to rare earths and gallium. Ongoing metallurgical studies and recent assay results from Monte Muambe are helping refine extraction methods for both fluorspar and gallium, with the potential to improve project economics. These efforts strengthen the company’s positioning within the growing global demand for secure critical mineral supply.
Despite these operational developments, the company’s financial profile remains weak, with no revenue generation, continuing losses, persistent cash outflows and increasing leverage. However, technical indicators show positive momentum, with the share price trading well above key moving averages and supported by a positive MACD signal. Valuation metrics offer little support at present due to negative earnings and the absence of dividend data.
More about Altona Rare Earths
Altona Rare Earths is listed on the London Main Market and focuses on exploration and development of critical raw materials projects across Africa, including rare earth elements, fluorspar, gallium, copper and silver. Its flagship Monte Muambe project in Mozambique hosts multiple critical minerals and is backed by a 25-year mining licence, an initial JORC-compliant resource estimate and U.S. funding to support prefeasibility studies.
In addition to rare earths, the company is advancing high-grade fluorspar targets at Monte Muambe, with plans to produce significant volumes of acid-grade material over a projected mine life of at least 12 years to serve clean energy and industrial sectors. Altona also owns the Sesana Copper-Silver Project in Botswana, located near existing mining operations, and continues to assess additional critical minerals opportunities aligned with its long-term growth strategy.
This is The Capital Compass. Today we’re heading to one of Africa’s most prolific gold districts — the Lake Victoria Gold Fields — to take a closer look at Cameo Resources (CSE:MEO) and its Katoro Project.
This is a region that has attracted some of the world’s largest gold producers, and Cameo has assembled a significant land package right in the middle of that activity. After completing extensive preliminary work, the company has identified 80 high-priority drill targets — and is now preparing to test 10 to 15 of those in its upcoming drill program.
Joining me now to walk us through the project, the targets, and what investors can expect next is Brian Thurston, Professional Geologist for Cameo Resources. Welcome to the Capital Compass.
Brian: Hi Ricki, thanks for having me.
Host: Brian, let’s start with the big picture. The Katoro Project is located in the Lake Victoria Gold Fields — a region that’s well known in the gold space. What makes this jurisdiction so important, and why is it such a compelling place to be exploring right now?
Brian: Tanzania is Africa’s 3rd largest gold producer, producing nearly 50 TONS annually, with multiple Tier 1 producers as well as over 1m small scale artisanal miners. With a mining friendly government, the industry contributing to over 50% of the country’s total exports, it’s the ideal place to explore and potentially discover new Tier 1 deposits.
Host: This area is home to several major gold producers. How important is it to be operating alongside established players, and what does that tell you about the geological potential of your ground?
Brian: Being in the mist of mining titans, such as Anglo’s Geita Mine, Barricks Bulyanhulu and North Mara mines, Perseus’ new Nyangaza mine, TRX’s Buckreef mine, amongst others, shows the potential for very large deposits and potential for new discoveries. We are along the same major fault line as Buckreef on our Eastern boundary and also another significant fault to our West, making our Kataro Project a very prospective area.
Host: You’ve assembled a sizeable land package in the district and recently completed technical work that generated 80 high-priority drill targets. Can you walk us through what that work involved and what stands out to you about those targets?
Brian: Our exploration team first started with an air-borne magnetic survey over the entire project, which identified numerous anomalous areas. Our Team then narrowed down 5 priority blocks, making up only 15% of the project, and completed Pole-Dipole Induced Polarity. The results identified conductivity zones as high as 250 mV/V, this is very exciting as it indicates the potential of semi-massive to massive sulphides over large areas. With this geophysical data, we were able to identify 80 high priority drill targets.
Host: You’re now moving toward drilling 10 to 15 of the highest priority targets. What will this initial drill campaign focus on, and what would success look like in this first phase?
Brian: Our first round of drilling will target these high conductivity zones first. We believe this area to have the potential to be similar to samples taken from a nearby active small scale mining operation, that came in as high as 238 g/t.
(Location Katoro Gold Project of the Lake Victoria GoldField greenstone belts in north-western Tanzania. Source: Cameo Resources Inc.)
Host: Finally, investors always want to know about timing. When do you expect drilling to begin, and when might we see the first results from this program?
Brian: We just successfully completed our local discussions with the Village counsel and negotiations with the respective landowners for access and to ensure a smooth start to our drilling campaign, which we expect to commence at the end of March, with our first assays in early April, at which point new results will be coming in on a weekly basis.
Host: Brian, thank you for joining us and walking us through the Cameo Resources story.
Brian: Thanks for having me and sharing our exciting story.
As the 60th anniversary of England’s 1966 World Cup approaches, Sir Geoff Hurst, on announcing his new partnership with Solomon Global, reflects on legacy and how this is about more than a single moment; it’s about what stands the test of time.
The football icon, who remains the only player to score a hat-trick in a World Cup final, is championing wealth built carefully, deliberately, and with a long-term view; something that lasts for generations. Sir Geoff’s career has been defined by discipline, consistency, and preparation. In the decades since hanging up his boots, he has focused on business and making considered financial choices. Renowned for his acumen and prudence when it comes to investments, his approach will resonate with a growing number of investors navigating the current, more uncertain economic landscape.
Solomon Global, which specialises in the secure delivery of physical gold and silver in bar and coin form for private ownership, has seen increasing demand from investors seeking to diversify their holdings and protect their wealth over the long term. Unlike financial instruments or paper-based exposure, physical precious metals offer direct ownership; tangible assets that exist independently of banks and other financial institutions.
For Sir Geoff, the appeal is both practical and philosophical:
“Throughout my career, I’ve understood the value of discipline and thinking ahead, and this has aided me in my investment decisions. Gold has stood the test of time for generations, and I’m delighted to be working with and be a customer of Solomon Global, a company genuinely committed to helping people build and protect a financial legacy for themselves and their families.”
The use of gold as a long-term store of value is well established. Central banks continue to hold substantial reserves, and in recent years, many have increased their allocations. For private investors, the rationale is similar: gold can provide stability, diversify risk, and act as a foundation for wealth that can be transferred across generations.
This partnership arrives at a moment when investors are reassessing their portfolios. Equities remain a core holding for most, but there is growing interest in alternative assets such as precious metals, which behave differently under geo-political and economic pressure, and are globally recognised and historically resilient.
The collaboration between Solomon Global and Sir Geoff Hurst is a reminder that legacy, whether on the pitch or in a portfolio, is shaped over time. It is not the flash of a single moment, but the steady, considered choices that endure. For investors today, that perspective is increasingly relevant: wealth that is preserved, protected, and passed down is wealth that truly stands the test of time.
In a strong signal of investor confidence, Light Science Technologies Holdings Plc (LSE:LST) has successfully raised £6.6 million to support its next phase of growth. The fundraising, which included a £600,000 retail offer, was oversubscribed, reflecting positive market sentiment toward the company’s expanding role in high-demand sectors such as fire safety, food security, and defence.
Speaking on The Watchlist, CEO Simon Deacon outlined how the capital will be deployed over the next 12 to 18 months to scale operations and secure larger, recurring revenue contracts.
Focus on Three Core Divisions
The newly raised funds will be directed toward strengthening the company’s three key divisions:
Passive Fire Protection
Contract Electronics
Controlled Environment Agriculture (CEA)
According to Deacon, these areas are experiencing strong market growth, driven by increasing regulatory requirements and global demand for safer infrastructure and more efficient food production systems.
“Our focus is to build these three divisions,” Deacon said, highlighting the company’s strategy to integrate its technologies across sectors to win larger contracts where it is specified as a provider.
Expansion into Fire Safety: The Injectaclad Opportunity
A major strategic step has been the acquisition of Injectaclad, a fire safety solution designed to address cladding-related risks in buildings. The technology allows fire protection materials to be installed externally, eliminating the need to remove building facades or displace occupants.
This approach offers both cost and time efficiencies, key advantages in a market under pressure to remediate unsafe buildings quickly.
The scale of the opportunity is significant. Deacon estimates that around 40,000 buildings in the UK require remedial fire safety work, representing an addressable market of approximately £4 billion.
Injectaclad has undergone extensive third-party testing and accreditation, positioning it as a credible solution within a highly regulated environment. The company is already working through a £24 million quoted pipeline of projects progressing via the Building Safety Regulator.
Responding to Regulatory Tailwinds
Both fire safety and food security are sectors undergoing rapid regulatory evolution. In the UK, legislation such as the Building Safety Act and Fire Safety Act has intensified demand for compliant solutions.
Government support has further accelerated activity, with £6 billion allocated to building remediation efforts, although only a portion of this has been deployed so far.
Light Science Technologies is actively engaging with fire officers, architects, and regulators to increase awareness and adoption of its solutions, aiming to secure a strong position as projects move through approval pipelines.
Technology Driving Sustainable Food Production
Beyond fire safety, the company continues to innovate in controlled environment agriculture. Originally focused on boosting crop yields, its technology has evolved in response to rising energy and material costs.
Its sensor-based systems now provide real-time data on crop conditions, enabling growers to optimise inputs such as energy, water, and nutrients. The result is improved profitability and sustainability, an increasingly critical requirement in modern agriculture.
“Our technology provides real-world solutions,” Deacon explained, noting how changing global conditions have reshaped priorities within the sector.
Positioned for Long-Term Growth
With strong demand across its target markets and a reinforced balance sheet, Light Science Technologies Holdings Plc is positioning itself for sustained expansion. The combination of regulatory drivers, technological innovation, and a growing pipeline of opportunities suggests the company is well placed to capitalise on long-term structural trends.
As Deacon concluded, the mission extends beyond commercial success: ensuring safer buildings and more sustainable food production systems for the future.
Upland Resources Limited (LSE:UPL) (USOTC:UPLLF) said its ordinary shares have been approved for trading on the OTCQB Venture Market in the United States, providing North American investors with a new way to access the company’s stock. Trading on the platform is scheduled to begin on March 18, 2026 under the ticker symbol UPLLF.
The company’s shares will continue to trade on the London Stock Exchange’s Main Market under the ticker UPL.
New access for U.S. investors
The OTCQB listing will allow U.S.-based investors to trade Upland’s shares in U.S. dollars during U.S. market hours for the first time. The OTCQB quotation will function as a cross-trading platform alongside the company’s existing London listing.
Upland said the move is intended to broaden its North American investor base and improve accessibility for U.S. investors interested in gaining exposure to its upstream oil and gas projects.
The OTCQB Venture Market is operated by OTC Markets Group Inc. and is designed for developing companies seeking to expand visibility and access to U.S. capital markets.
Expanding project portfolio
Upland Resources focuses on developing oil and gas assets across Southeast Asia while also holding interests in projects in the United States.
Through its partnership with Lost Soldier Oil and Gas, the company holds a participation interest in the Wild Mustang Federal Unit in Wyoming, which could become one of the largest new gas discoveries in the U.S. The project is targeting first commercial gas production in the fourth quarter of 2026.
Upland also said it is engaged in discussions regarding additional upstream licensing opportunities across Southeast Asia, supported by a previously announced $100 million strategic funding commitment from Lost Soldier Oil and Gas.
Supporting growth strategy
The OTCQB listing comes as Upland seeks to increase engagement with North American investors while advancing its project portfolio.
The company said the new trading venue complements its existing London listing and could help build momentum as it progresses toward key operational and development milestones.
The approval follows earlier strategic announcements, including a framework agreement disclosed in November 2025 and the $100 million strategic funding commitment announced in January 2026.
Management commentary
Bolhassan Di, Chairman and CEO of Upland Resources Limited, commented:
“The OTCQB approval reflects growing international recognition of what Upland is building. Our strategic focus is Southeast Asia, and the Wild Mustang project demonstrates the quality of the partnership underpinning that ambition. Today’s announcements – a new US trading venue give us an excellent platform from which to advance.”
Scotch Corner Designer Village is planning to raise £25.5 million through an initial public offering on the Aquis Exchange to help finance the next stage of construction of its planned outlet retail and leisure destination in North Yorkshire.
The development will be located at Scotch Corner, a prominent junction on the A1(M) near Richmond, and is widely recognised as a key gateway between the North East, Yorkshire and the North West. The site is visible to traffic as far away as the M6 motorway, roughly 50 miles away.
The project spans a 50-acre site with full planning permission for approximately 182,500 square feet of branded outlet retail units, cafés and restaurants, alongside landscaped public spaces. Initial groundworks have already been completed, with the village expected to open in autumn 2027.
IPO to fund main construction phase
The planned equity raise of £25.5 million will come from the issue of new shares in Scotch Corner Designer Village (SCDV) as part of its listing on the Aquis market. The funds will be used primarily to finance the main construction phase of the development.
In addition to the IPO proceeds, the company is seeking £33.2 million through 14% secured mezzanine loan notes. The remainder of the project’s funding will be provided through £67 million in senior debt, which has already been secured.
The founders will contribute the existing freehold site to the company at admission in exchange for shares valued at £16.5 million at the issue price of 250 pence per share, representing roughly 40% of the company. This reflects a modest discount to the £43.6 million valuation placed on the site by Savills after accounting for approximately £26 million of accrued debt.
Development already largely pre-let
Developers say the scheme is already about 70% pre-let, with a further 11% of space currently at heads-of-terms stage with prospective tenants.
Outlet villages are regarded as one of the faster-growing segments within the retail sector, and the Scotch Corner project aims to establish a major outlet destination in the North of England. The site also offers scope for future expansion across both retail and leisure uses.
The development sits within a catchment area of around 4.5 million people within a one-hour drive, while approximately 29 million vehicles pass through Scotch Corner each year.
Brands confirmed for the village include M&S, Superdry, Tommy Hilfiger, Calvin Klein and Wagamama, alongside around 60 additional retailers and hospitality operators.
Projected value and returns
The scheme is expected to reach a gross development value of roughly £169 million at completion, including land earmarked for a second phase of expansion.
Through the Aquis listing, the project aims to create £42 million in equity value, comprising £16.5 million contributed through the land and £25.5 million raised through the IPO. Phase one will be funded through the mezzanine facility arranged around the time of listing, together with the £67 million senior debt package.
Developers estimate the project could generate an internal rate of return of around 21.75% per year over a 5.5-year period, with an equity multiple of 2.58 times — rising to 2.88 times when surplus income is included. The forecast assumes refinancing once the site becomes operational following the construction phase and a four-year stabilisation period.
The project is expected to become free cash flow positive about 12 months after the IPO. Dividends to shareholders are projected to begin from 2027 and increase in line with rental income as the outlet village matures.
U.S. stock index futures indicated a modestly weaker open on Wednesday, suggesting markets could retreat after posting gains during the previous two sessions.
Futures slipped following the release of fresh data from the Labor Department showing that producer prices in the United States rose significantly more than economists had expected in February.
The producer price index for final demand increased by 0.7% during the month, after rising 0.5% in January. Economists had anticipated a smaller gain of 0.3%.
The report also showed that the annual rate of producer price growth accelerated to 3.4% in February from 2.9% in the previous month. Analysts had expected the yearly rate to remain unchanged.
The stronger inflation data, combined with the recent jump in crude oil prices tied to the conflict in the Middle East, could intensify concerns about the inflation outlook.
At the same time, investors may remain cautious ahead of the Federal Reserve’s policy decision scheduled for later in the day.
While the central bank is widely expected to keep interest rates unchanged, traders will be closely watching the latest economic projections from Fed officials.
Following a recovery rally in the previous session, stocks advanced again early on Tuesday before losing momentum as the day progressed. Although the major averages retreated from their intraday highs, they still managed to end the session in positive territory.
The benchmarks added to Monday’s gains, moving further away from the three-month closing lows recorded on Friday. The Nasdaq rose 105.35 points, or 0.5%, to finish at 22,479.53, the S&P 500 gained 16.71 points, or 0.3%, to close at 6,716.09, and the Dow edged up 46.85 points, or 0.1%, to 46,993.26.
Early strength on Wall Street reflected traders’ efforts to look past the recent swings in oil prices, which have played a major role in shaping market sentiment in recent sessions.
Stocks extended the rebound seen a day earlier even as crude prices recovered after Monday’s pullback.
Oil climbed after Iran launched a series of attacks on the United Arab Emirates, targeting Dubai’s international airport and the Fujairah oil terminal, marking a significant escalation in the ongoing conflict.
The Israeli military also said it had begun a “wide-scale wave of strikes” across Iran’s capital and intensified attacks on Hezbollah targets in Lebanon.
Meanwhile, several U.S. allies — including Germany, Spain, Italy, Australia and Japan — declined President Donald Trump’s request to help secure the Strait of Hormuz, a crucial passage through which roughly one-fifth of the world’s energy shipments move.
Investors appeared hesitant to make major moves ahead of the Federal Reserve’s monetary policy announcement.
Oil services companies rallied alongside rising crude prices, pushing the Philadelphia Oil Service Index up about 3%.
Airline stocks also posted strong gains, with the NYSE Arca Airline Index jumping 2.8% after several carriers raised their revenue outlook for the first quarter.
Shares of computer hardware companies, oil producers and brokerage firms also moved higher during the session, while pharmaceutical stocks lagged behind.
Eli Lilly (NYSE:LLY) weighed on the pharmaceutical sector, sliding 5.9% after HSBC Securities downgraded the drugmaker’s shares to Reduce from Hold.
European stock markets showed mixed movements on Wednesday as investors remained cautious ahead of the U.S. Federal Reserve’s interest rate decision expected later in the day.
Market sentiment received some support from declining oil prices despite ongoing geopolitical tensions, including confirmation by Iran’s supreme national security council of the death of its security chief, Ali Larijani.
In early trading, the U.K.’s FTSE 100 Index slipped 0.1 percent, while Germany’s DAX Index edged up 0.1 percent and France’s CAC 40 Index gained 0.5 percent.
Shares of British insurer Prudential (LSE:PRU) dropped 2.2 percent even after the company reported a 12 percent increase in annual new business profit, raised its dividend and unveiled plans to return $1.3 billion in capital to shareholders in 2027.
Oil and gas producer Ithaca Energy (LSE:ITH) declined nearly 6 percent after one-off charges weighed on its adjusted profit for 2025.
Diploma (LSE:DPLM), which distributes industrial controls, seals and life sciences products, surged 17 percent after raising its guidance for fiscal year 2026.
Barclays (LSE:BARC) shares advanced about 2 percent following the announcement of a new strategic partnership with software company Sage Group.
In France, vaccine developer Valneva (EU:VLA) traded lower after reporting a wider net loss for fiscal year 2025.
Technip Energies (EU:TE) rose 1.4 percent after the energy technology and engineering company announced a share buyback program worth up to 150 million euros.
German hydrogen technology company Thyssenkrupp Nucera (TG:NCH2) fell 8 percent after cutting its full-year outlook.
Meanwhile, meal kit provider HelloFresh (TG:HFG) plunged 7 percent after posting weaker-than-expected fourth-quarter core earnings and issuing a lower profit forecast for 2026.
