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East Star Resources (LSE:EST) has taken further steps to advance its Verkhuba copper project in Kazakhstan through its joint venture with Hong Kong Xinhai Mining Services, establishing Verkhuba Limited within the Astana International Financial Centre and securing an initial funding payment of A$500,000. The payment forms part of a proposed investment programme worth approximately US$65 million and supports the continued development of the project under the farm-in agreement.

The arrangement leaves East Star fully carried through to production, allowing the company to retain a 30% interest in a future mining operation based on the Verkhuba deposit’s JORC Inferred Resource of 20.3 million tonnes containing copper, zinc and lead.

Development activity is now moving from transaction completion to operational execution. Key milestones include the transfer of the Verkhuba licence into the joint venture structure, the signing of a drilling contract and preparations for an initial 5,000-metre diamond drilling campaign scheduled to commence in June 2026. Drill rigs are being mobilised to site as the partners begin advancing the next phase of exploration and project evaluation.

Alongside the drilling programme, the joint venture is progressing early site development work and engaging in discussions related to land acquisition and infrastructure requirements. These initiatives are expected to support the long-term development pathway for Verkhuba and could accelerate the project’s progression toward future production and cash generation.

Management believes the ongoing work strengthens East Star’s position within Kazakhstan’s base metals sector while advancing one of the company’s most significant development assets.

More about East Star Resources

East Star Resources is a London-listed exploration and development company focused on copper and gold opportunities across Kazakhstan. Its portfolio includes the Verkhuba copper deposit, a number of volcanogenic massive sulphide prospects, a gold exploration joint venture with Endeavour Mining, and several large-scale copper porphyry and epithermal gold targets located within established mineral belts.

Seed Innovations Ltd (LSE:SEED) has repositioned its investment strategy around robotics and artificial intelligence, reflecting the board’s belief that the combination of AI and real-world automation offers one of the most compelling long-term growth opportunities in global technology markets. To support the transition, the company has refreshed its board with new leadership appointments, engaged robotics and AI specialist Hoid.ai, and continues to manage its existing portfolio selectively while retaining exposure to selected food-technology investments.

Since the financial year end, Seed has completed its first transactions under the revised strategy, investing approximately US$1 million in U.S.-based Feather Robotics and £300,000 in UK agricultural technology company Fieldwork Robotics, which is developing autonomous systems for berry harvesting. At the period end, the company’s investment portfolio was valued at £8.4 million, while net assets stood at £11.0 million.

Although the shares continue to trade at a significant discount to net asset value, management believes the company’s more focused investment approach, disciplined allocation of capital and early progress within its robotics and AI portfolio provide a solid foundation for future value creation as commercial adoption of intelligent automation technologies continues to expand.

More about Seed Innovations

Seed Innovations Ltd is an AIM-listed investment company focused on identifying and supporting early-stage, high-growth businesses. The group has recently shifted its emphasis toward opportunities at the intersection of artificial intelligence and robotics, targeting companies developing practical automation solutions for industrial, agricultural and commercial applications where scalable technology and early market adoption can generate long-term shareholder value.

Gold Extends Losses as Markets Price in Higher U.S. Rates

Gold prices moved sharply lower on Tuesday as investors responded to a stronger U.S. dollar and increasing expectations that the Federal Reserve could tighten monetary policy further before the end of the year.

Spot gold dropped 1.55% to $4,126.45 an ounce by 06:42 ET (10:42 GMT), while U.S. gold futures declined 1.63% to $4,142.10.

The retreat came after bullion posted a modest gain in the previous session, supported by optimism surrounding diplomatic discussions between the United States and Iran.

Hawkish Fed Signals Lift the Dollar

The U.S. Dollar Index remained near the 13-month peak reached last week, benefiting from the Federal Reserve’s more hawkish tone following its latest policy meeting.

Although the central bank kept interest rates unchanged at 3.50%-3.75%, updated projections indicated that policymakers increasingly support at least one additional rate increase before year-end.

Money markets currently assign roughly a 90% chance of a December hike, while some investors believe further tightening remains possible if inflation proves difficult to contain.

Rising Yields Create Headwinds for Bullion

Gold faces added pressure when interest rates and the dollar move higher.

A stronger greenback reduces affordability for overseas buyers, while rising yields improve the attractiveness of interest-bearing investments relative to gold, which offers no income.

As a result, monetary policy expectations have become a dominant influence on precious-metal trading.

Diplomatic Progress Limits Safe-Haven Demand

Investors also continued to evaluate developments in negotiations between Washington and Tehran.

Following initial talks in Switzerland, the United States granted a 60-day waiver covering certain Iranian oil exports, while officials from both sides described discussions as constructive.

Although geopolitical tensions typically support safe-haven assets such as gold, traders are increasingly focused on the economic and inflationary effects of the conflict rather than the conflict itself.

Earlier this year, surging oil prices fueled concerns that energy-driven inflation could force central banks to maintain restrictive policies for an extended period.

Inflation Report Becomes Next Major Test

Market participants are now awaiting Thursday’s U.S. Personal Consumption Expenditures (PCE) report, widely regarded as the Federal Reserve’s preferred inflation indicator.

The data could provide important clues about the direction of future interest-rate decisions and shape near-term sentiment toward both the dollar and gold.

Precious and Industrial Metals Move Lower

The broader metals complex also traded lower.

Silver fell 4.3% to $62.29 an ounce, while platinum declined 2.6% to $1,639.60 an ounce.

In industrial commodities, benchmark copper futures on the London Metal Exchange slipped 1.2% to $13,486.33 per tonne, while U.S. copper futures fell 2.3% to $6.22 per pound.

Government Bonds Gain as Energy Concerns Fade

Eurozone government bond yields moved lower on Tuesday as investors responded to reassuring commentary from European Central Bank officials and improving geopolitical sentiment following further progress in U.S.-Iran negotiations.

The outlook for a prolonged energy shock softened as diplomatic discussions continued and shipping activity through the Strait of Hormuz increased, helping push oil prices lower and boosting demand for sovereign debt.

Germany’s benchmark 10-year government bond yield edged down to 2.92%.

Markets Focus on Inflation Outlook

European bond markets remain close to their lowest levels in several weeks as attention shifts away from immediate geopolitical tensions and toward the inflationary consequences of the conflict that has affected energy markets in recent months.

The ECB has already delivered one interest rate increase this year, while futures markets continue to price in the possibility of an additional move later in 2026.

Investors are now awaiting the release of June purchasing managers’ index (PMI) data, which is expected to provide fresh insight into economic activity across the euro area.

ECB Officials Temper Rate Hike Concerns

Market sentiment was supported by comments from ECB President Christine Lagarde, who indicated that inflationary pressures remain manageable despite recent disruptions.

Lagarde stated that the inflation impact has been “large, but not yet large enough” to significantly alter long-term inflation expectations.

She also noted that there is currently no evidence of inflation becoming entrenched through wage pressures or broader second-round effects that would justify a more aggressive tightening cycle.

Short-Term Yields Move Lower

For fixed-income investors, the current environment presents a balancing act between slowing economic growth and the possibility of further monetary tightening.

The German two-year government bond yield, which is particularly sensitive to expectations for ECB policy, declined to 2.57%.

Market participants are likely to continue monitoring incoming economic data and ECB communication closely, with both factors expected to shape the direction of eurozone bond markets in the coming weeks.

UK Gilts Also Benefit

British government bonds also advanced after Prime Minister Keir Starmer announced on Monday that he would step down.

Investors viewed the emergence of Andy Burnham as the leading contender to replace him as a potentially more market-friendly outcome.

As a result, the yield on the UK 10-year gilt fell to 4.777%, reflecting stronger demand for government debt.

FirstCash Strikes Deal to Acquire Ramsdens

Shares in Ramsdens Holdings plc (LSE:RFX) surged more than 30% on Tuesday after the company agreed to a recommended cash takeover by U.S.-based pawnbroking group FirstCash Holdings (NASDAQ:FCFS).

The acquisition will be carried out through FirstCash’s UK subsidiary, Chess Bidco Limited, with Ramsdens shareholders set to receive 600 pence in cash for each share they own.

The offer values the UK pawnbroker at approximately £206 million, including an interim dividend, and sent the shares to a new all-time intraday high of 600 pence.

The stock has now gained roughly 60% since the beginning of the year.

Shareholders to Receive Cash Offer and Interim Dividend

Under the terms of the agreement, Ramsdens investors will receive a cash payment of 600 pence per share.

In addition, shareholders will be entitled to an interim dividend of up to 9 pence per share, scheduled for payment on 9 October.

Based on exchange rates at the close of trading on 22 June, the transaction carries a total equity value of approximately £206 million, equivalent to around $273 million.

The acquisition has received unanimous support from the boards of both companies.

Deal Expands FirstCash’s UK Presence

Ramsdens operates a network of 174 pawnbroking branches across England, Scotland and Wales.

The acquisition significantly strengthens FirstCash’s position in the UK market and follows its earlier purchase of H&T.

Together, the combined businesses will operate nearly 470 locations across the UK, with management noting there is limited overlap between the two store networks.

Following completion of the transaction, FirstCash expects to operate more than 3,500 pawn stores globally.

Management Highlights Strategic Benefits

Rick Wessel, Chief Executive Officer and Vice-Chairman of FirstCash, said: “We are excited to add Ramsdens as part of the global FirstCash family. Ramsdens is a well-respected operator with a proven track record of operating successfully in the U.K. pawn market.”

The company believes the acquisition will enhance its international footprint while adding an established and profitable business with a strong market position.

Ramsdens Reflects on Growth Since IPO

Ramsdens Chief Executive Peter Kenyon welcomed the agreement and highlighted the company’s progress since becoming a listed business.

He said: “I am exceptionally proud of Ramsdens’ transformational growth since our IPO in 2017. FirstCash is an internationally established sector leader, and I share their confidence and conviction in the outlook for Ramsdens.”

Management believes the transaction provides shareholders with an attractive opportunity to realise value while positioning the business for its next phase of development under new ownership.

Strong Financial Performance Supports Acquisition

For the twelve months ended 31 March 2026, Ramsdens reported revenue of approximately $200 million.

During the period, the company generated net income of $26 million and adjusted EBITDA of $40 million, based on IFRS reporting standards and an average GBP/USD exchange rate of 1.34.

The financial performance reflects continued growth across the group’s pawnbroking, jewellery retail and foreign exchange operations.

Transaction Awaits Shareholder and Regulatory Approval

The acquisition remains subject to approval by Ramsdens shareholders as well as customary regulatory clearances in the UK.

If approved, the deal will create one of the largest pawnbroking networks in the British market while further expanding FirstCash’s international operations.

Management from both companies expressed confidence that the strategic combination will strengthen the business and create opportunities for future growth.

More about Ramsdens

Ramsdens Holdings plc is a UK-based financial services and retail group operating through a nationwide network of pawnbroking stores.

The company provides secured lending, jewellery retail, precious metals purchasing and foreign exchange services across England, Scotland and Wales. Since listing on the London Stock Exchange in 2017, Ramsdens has expanded its branch network and diversified its service offering, establishing itself as one of the UK’s leading pawnbroking and alternative financial services providers.