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Savannah Resources (LSE:SAV) has reported continued development at its Barroso Lithium Project in northern Portugal, with progress across feasibility studies, permitting activities and local stakeholder engagement strengthening the pathway toward project construction.

The company said work on the Definitive Feasibility Study (DFS) and RECAPE licensing process is advancing, highlighted by submission of a revised bypass road design to Portuguese authorities and approval from grid operator E-Redes for plans to relocate an overhead power line. These developments represent key infrastructure milestones required to support future mine construction.

Operational planning has also moved forward, with updated pit designs and revised mining schedules delivered to the company, keeping Savannah on course to publish its maiden JORC-compliant Ore Reserve estimate. In parallel, rock chip sampling at the Carvalha da Bácora pegmatite returned high-grade lithium results, reinforcing the potential for additional resource growth beyond the current development scope.

Savannah is also increasing engagement with local communities and stakeholders, signing Memorandums of Understanding with four regional groups and holding a series of public consultations. The company continues to advance land acquisition and secure temporary land access permissions needed for infrastructure works, including the planned power-line realignment.

Against a more supportive lithium pricing backdrop and rising commercial interest in its uncommitted spodumene concentrate output, the developer is coordinating a significant state grant application alongside broader financing discussions. Investor outreach efforts have also intensified as the company works toward completing the DFS and preparing for construction of what it aims to establish as Europe’s leading spodumene lithium operation.

While operational progress remains strong, Savannah’s outlook continues to be constrained by its pre-revenue status, ongoing losses and elevated cash burn, resulting in negative operating and free cash flow. Technical indicators provide some support due to recent share price momentum and strength relative to key moving averages, although an overbought RSI suggests potential near-term volatility. Valuation metrics remain limited by negative earnings and the absence of dividend income.

More about Savannah Resources

Savannah Resources is a London AIM-listed lithium developer focused on advancing the Barroso Lithium Project in northern Portugal, widely regarded as Europe’s largest spodumene lithium deposit and designated a Strategic Project under the EU Critical Raw Materials Act. The company aims to supply lithium concentrate to the European battery and electric vehicle supply chain, positioning itself as a key regional source of critical raw materials supporting energy transition goals.

Eco Buildings Group (LSE:ECOB) has moved its Senegal joint venture with local partner G2 Invest Group into the implementation stage, marking progress toward establishing a modular housing manufacturing operation in the country based on its GFRG construction technology.

The transition follows completion of G2 Invest Group’s €1.75 million equity investment, representing its 35% stake in Eco Buildings Senegal LLC. The funding fully satisfies G2’s capital commitment and supports the next phase of operational development, including scaling local manufacturing capabilities and preparing for project deployment within Senegal.

Eco Buildings said mobilisation of the new production line has now begun, with the company formally appointing its engineering, procurement and construction (EPC) contractor to commence detailed planning activities covering engineering design, procurement and build execution.

As part of the rollout strategy, the joint venture plans to deliver and install a fully completed Eco Buildings show house in Senegal, financed by G2 Invest Group. The demonstration unit is intended to secure final government approvals and facilitate the formal launch of the housing programme, representing a key regulatory and commercial milestone ahead of broader project implementation.

The company’s outlook is supported by positive corporate developments that signal potential expansion opportunities, although financial performance and valuation challenges continue to weigh on the overall investment case. Technical indicators suggest a mixed picture, with longer-term upward trends offset by near-term uncertainty.

More about Eco Buildings Group

Eco Buildings Group is a UK-listed modular construction company specialising in prefabricated housing solutions built using proprietary glass fibre reinforced gypsum (GFRG) wall panel technology. The company targets both affordable housing and premium residential markets, focusing on cost efficiency, rapid construction timelines and sustainability. Eco Buildings is pursuing international expansion through manufacturing and project initiatives across Europe, Africa and Latin America.

Hardide (LSE:HDD) has won a further £1.8 million in orders from a key customer in the North American energy market, prompting the company to raise its revenue outlook for the current financial year ending 30 September 2026.

The majority of the new work is scheduled for delivery within the ongoing financial year. Alongside the order intake, Hardide said discussions are underway with the customer regarding a potential long-term framework agreement and structured supply programme aimed at supporting future demand and business expansion.

The additional contracts have led the board to anticipate a material improvement in both revenue and overall performance compared with earlier forecasts. Management believes the increased activity will accelerate progress toward its strategic objective of at least doubling 2024 revenues ahead of schedule.

Higher production volumes are also expected to drive improved capacity utilisation across operations, strengthening both operational efficiency and financial performance as the company continues to expand its presence in energy-sector coatings.

Hardide’s outlook is supported by improving financial momentum following a turnaround in FY2025 that delivered positive profitability and free cash flow, alongside strong upward technical trading indicators. However, the investment case remains balanced by a high price-to-earnings valuation and increased leverage on the balance sheet, leaving limited margin for operational setbacks.

More about Hardide

Hardide plc is a UK-based advanced materials company specialising in surface treatment technologies. The group develops and applies patented tungsten carbide and tungsten metal matrix coatings designed to enhance durability and resistance to abrasion, erosion and corrosion in engineering components. Its solutions are used by customers across the energy, valve and pump, industrial gas turbine, precision engineering and aerospace sectors, helping extend component lifespan, improve efficiency and reduce environmental impact.

Nativo Resources (LSE:NTVO) has moved forward with development plans for the La Patona Gold Ore Processing Plant in Acari, Peru, after finalising agreements to manage, complete and operate the partially constructed facility, although extended contract negotiations have pushed back the start of site works by as much as 15 weeks.

The company will utilise existing operating permits for the project and is currently reviewing three engineering, procurement and construction (EPC) proposals for the 15-hectare processing site. The plant is designed as a dual-circuit flotation and cyanidation operation with an initial processing capacity of 220 tonnes per day, while allowing for future expansion as feed supply grows.

Once operating at full capacity and assuming consistent ore availability, the facility is expected to recover between 1.4 and 1.7 kilograms of gold daily. The project will also include an on-site laboratory capable of assaying third-party ore, providing potential additional revenue opportunities alongside core processing activities.

Nativo anticipates construction and commissioning to be completed during the second half of 2026, with total development costs estimated at approximately $1.8 million. Veteran processing engineer Bernardino Alegría Aragón has been appointed to lead construction and operational delivery, reinforcing the company’s efforts to accelerate monetisation of its Peruvian gold assets at a time of strong global demand for the metal.

The company’s broader outlook remains weighed down by weak financial metrics, including ongoing losses, negative equity and elevated leverage relative to assets, alongside continued cash burn. While recent trading momentum has supported short-term technical indicators, the shares remain below their 200-day average, moderating the overall signal. Valuation metrics also remain pressured due to negative earnings and the absence of dividend support.

More about Nativo Resources

Nativo Resources plc is a UK-listed mining company focused on near-term gold production and processing opportunities in Peru. Its strategy includes primary gold mining, ore processing and recovery of gold from historic tailings deposits. The company is advancing development at the Tesoro Gold Concession and has stated plans to allocate a portion of future free cash flow and potential capital raises toward establishing a Bitcoin treasury reserve.

ECO Animal Health Group (LSE:EAH) has unveiled plans for the European launch of its ECOVAXXIN® MS poultry vaccine, following marketing authorisation from the European Commission received in late 2025.

The vaccine is designed to protect layer and breeder chickens against Mycoplasma synoviae, a disease linked to lesions and reduced egg production. With the addition of ECOVAXXIN® MS, the company aims to expand its offering beyond treatment into prevention, complementing its established Mycoplasma therapy Aivlosin® and positioning ECO Animal Health as a comprehensive solutions provider in this segment.

The company intends to utilise its existing European commercial infrastructure alongside newly secured strategic distribution agreements to reach key poultry-producing regions. These markets collectively account for more than 220 million layer birds each year across the EU.

Management plans a phased commercial rollout beginning with distributor education and training programmes, followed by a formal product launch event in Madrid scheduled for mid-2026. Regional introductions will continue through early 2027. ECO Animal Health expects the vaccine to contribute positively to margins shortly after launch, with a meaningful EBITDA impact anticipated in the 2027/28 financial year as adoption builds.

The launch is expected to strengthen the company’s competitive standing within the poultry health market, broadening its revenue mix and supporting longer-term growth ambitions.

ECO Animal Health’s overall stock score reflects strong technical momentum and supportive corporate developments, suggesting investor optimism around future expansion. However, elevated valuation levels and uneven financial performance remain factors that could present risks should projected growth fail to materialise.

More about ECO Animal Health

ECO Animal Health Group is a UK-based global animal health company specialising in branded veterinary pharmaceuticals, with a primary focus on antibiotics and vaccines for pigs and poultry. The business employs more than 200 staff worldwide and holds marketing authorisations in over 70 countries. Its flagship product, Aivlosin®, is widely used to treat respiratory and intestinal diseases affecting pigs and poultry and remains the company’s core commercial asset.

Falconedge PLC (AQSE:EDGE) (USOTC:FEDGF) has secured two additional hedge fund clients for its advisory platform, boosting its customer base and reinforcing the company’s push to expand recurring revenue streams alongside the release of its latest interim financial results.

The newly signed mandates increase Falconedge’s advisory client roster by roughly 40%, representing continued momentum in scaling the firm’s core advisory operations. Management said recurring advisory income remains central to its plan of building a sustainable and profitable business model over time.

The client additions also align with Falconedge’s broader corporate strategy, which includes a Bitcoin treasury and yield management policy introduced last December. The company aims to develop diversified income sources capable of delivering resilient long-term shareholder returns.

Roy Kashi, CEO of Falconedge, commented: “The addition of two new clients represents a significant increase in our advisory client base and reflects continued demand for Falconedge’s platform. We remain focused on scaling our core advisory business in a disciplined manner while progressing our broader strategy, including the Company’s Bitcoin treasury and yield management policy.”

Falconedge operates as a specialist advisory and fund management business serving alternative investment managers. Its services span strategic planning, operational development and capital markets advisory, with a focus on early-stage and growth-oriented funds seeking support across formation, fundraising and portfolio construction.

Interim Results Overview

Alongside the client announcement, Falconedge published unaudited interim results for the six months ended 30 November 2025, a period marked by cautious capital deployment across the alternatives industry but steady demand for advisory expertise.

The company continues to prioritise expansion of its advisory division toward a fully self-sustaining position. As of the period end, five funds were onboarded as paying advisory clients, each contributing recurring monthly retainers. Two additional mandates have been secured since then, improving revenue visibility and strengthening the firm’s recurring income base.

Management noted that the advisory pipeline remains active, although the company is maintaining a selective approach, prioritising long-term strategic partnerships over rapid client accumulation.

Financial Performance

Falconedge reported an unaudited pre-tax loss of £554,347 on revenue of £59,478 for the six-month period. Results were affected by one-off expenses tied to the company’s IPO, completed in November 2025.

Net assets at period end totalled £1,856,153, reflecting balance sheet strengthening following capital raising activities. Financing inflows reached £2,410,336 during the period, supporting operations and strategic initiatives.

The company finished the reporting period with cash balances of £463,924, providing liquidity to support ongoing growth. The Board said disciplined capital allocation and balance sheet strength remain key priorities.

The interim results have not been reviewed by the company’s auditor.

Bitcoin Treasury Strategy

Since listing, Falconedge has expanded its Bitcoin treasury holdings, deploying assets into yield-generating strategies designed to increase Bitcoin exposure while maintaining risk controls.

During the reporting period, Falconedge acquired 19.2751 Bitcoin, valued at £1,322,304 at period end following impairment adjustments. After the reporting period, the company increased holdings by an additional 0.6038 Bitcoin through non-dilutive yield generation, bringing total holdings to 19.879 Bitcoin.

Management highlighted that this growth occurred despite a challenging market backdrop, demonstrating the ability of its yield strategy to grow holdings independently of short-term price movements while enhancing shareholder exposure on a per-share basis.

The approach has contributed both to asset growth and investment income generation, supporting revenue alongside treasury expansion. The Board believes the model differentiates Falconedge among publicly listed firms.

Operations and Outlook

Falconedge continues to operate with a lean cost structure designed to maximise operational efficiency and enable scalable growth without materially increasing fixed expenses.

Looking ahead, the Board said execution of its advisory expansion alongside disciplined development of its Bitcoin treasury strategy positions the company to pursue accretive growth opportunities. Management is currently evaluating additional initiatives aimed at expanding Bitcoin holdings while maintaining a long-term value creation focus.

The Board said it remains confident in Falconedge’s strategy and its potential to deliver sustainable shareholder value.

Lion Finance Group PLC (LSE:BGEO) reported strong fourth-quarter results on Wednesday, with adjusted profit rising to GEL 619.3 million, a 22.7% increase year on year, supported by solid loan expansion and growing fee and commission income across its operations in Georgia and Armenia.

For the full year 2025, adjusted profit totaled GEL 2,192.8 million, representing a 20.9% annual increase.

The company announced a quarterly dividend of GEL 2.75 per share, lifting total dividends for 2025 to GEL 10.50 per share, up 16.7% compared with the previous year. The board also authorised an additional GEL 53.5 million share buyback programme, bringing total repurchases for 2025 to GEL 203 million.

Shares climbed 7.08% following the results announcement.

Operating income for the fourth quarter grew 16.4% year on year to GEL 1,201.3 million, driven primarily by higher net interest income generated in both Georgian and Armenian markets.

Non-interest income increased 10.1% year on year to GEL 405.4 million, supported by strong fee and commission income growth of 33.8% within Georgian Financial Services and 34.1% within Armenian Financial Services.

As of 31 December 2025, the group’s loan portfolio reached GEL 40,065.7 million, marking a 19.7% increase year on year in constant currency terms. Client deposits totaled GEL 38,630.0 million, reflecting growth of 17.3% on the same basis.

“2025 was a year of strong performance for the Group, marked by robust growth in our core operations and notable momentum in Armenia,” said CEO Archil Gachechiladze.

“We delivered a record GEL 2.2 billion in Group net profit before one-offs, a return on average equity of 28.4%, and a 21.6% growth in our book value per share.”

The group reported an adjusted return on average equity of 28.4% for the full year and 30.1% in the fourth quarter. Asset quality remained strong, with the cost of credit risk ratio improving to 0.3% in the fourth quarter from 0.5% in the same period a year earlier.