BBC: UK government approves Jackdaw gas field and says production will start this month
Comment: Things must be bad if the Labour Net Zero brigade are allowing the North Sea to be developed again. That said, given that we are £3tln in debt, in a Middle East conflict, and fuel prices are through the roof, being worried about carbon emissions is a luxury the country can no long afford. This is of course over and above the way that our emissions on a world scale have no more significance than a flea on an elephant.
ValiRx Plc (VAL) Valirx Plc | VAL:LN , a life science company focusing on early-stage cancer therapeutics and women's health, notes the movement in the Company's share price on 20 October 2026 following the announcement by Ambrose Healthcare Ltd ("Ambrose"), a private UK specialist pharmaceutical company, regarding its acquisition of AM-Pharma for up to €161 million. VAL said, "As the third largest shareholder in Ambrose, we're delighted to see the acquisition of this additional clinical stage asset with established positive safety in almost 700 patients. The asset, which has had over $250M invested into sepsis-associated kidney injury including a Phase 3 trial that ultimately gave disappointing results, now has demonstrated dose-dependent effect on disease biomarkers in a Phase 1b study in adult HPP patients and has received Orphan Drug Designation for HPP from both the FDA and the EMA, with an agreed development plan built around a single pivotal study giving the programme a new lease of life with an established early clinical package.”
Comment: While it may be unfair to say that today’s news is a case of every dog having its day, it is the first solid, bullish news from VAL that most followers of the company will remember. What will be interesting now is seeing whether the rally in the stock will for once have legs.
Gelion (GELN) Gelion | GELN:LN , the sulfur battery technology company, announces its audited final results for the year ended 30 June 2026. Total income of £2.5 million (FY25: £2.7 million), 17.1% better than analyst consensus, primarily comprising increasing UK and Australian government grants and R&D tax incentives/credits, funding approximately 63.2% of Group R&D expenditure, up from 49.8% in FY25. Adjusted EBITDA loss of £4.4 million (FY25: £4.1 million), 10.4% better than analyst consensus. GELN said, "2026 has been an important transition year for Gelion, marked by continued advancements in our sulfur battery technology and growing commercial validation of our NES™ cathode platform through partnerships with leading global industrial and battery sector participants. These partnerships, together with the milestones achieved across our technology programmes, demonstrate the progress we have made in positioning Gelion's technologies for commercial deployment.”
Comment: Shares of GELN have been rising ahead of today’s update, something which seems appropriate if only on the basis that the company has beaten analyst consensus. That said the translation of “transition” is conventionally understood as meaning there is still work to do. Getting those losses out of the mix really could be transformational given the space the company is in.
Guardian Metal Resources plc (GMET) Guardian Metal Resources Plc | GMET:LN , a strategic exploration and development company focused on tungsten in Nevada, USA, announced the appointment of Mr. David Hendriks as Chief Operating Officer (“COO”) and Mr. Ron Espell as Vice-President, Environment & Permitting. GMET said, “We are very pleased to welcome David to Guardian Metal as COO. David brings a wealth of experience across mine development, construction and operations, particularly in Nevada, and his appointment comes at a pivotal time for the Company as we continue to build on the significant progress being made across both Pilot Mountain and Tempiute.”
Comment: All of a sudden shares of GMET have fallen out of bed over the past month, currently trading back at year lows. This is particularly surprising coming from what has been a stock market darling since it came to market. Somehow Oliver Friesen and the team need to get some of that love back into the stock.
Rainbow Rare Earths (RBW) Rainbow Rare Earths Ltd | RBW:LN announced its preliminary results for the year ended 30 June 2026. Rainbow’s own laboratory in Johannesburg has transformed the pace of flow sheet development and 75% of the Phalaborwa flow sheet is now fixed and suitable for the engineering phase of the Definitive Feasibility Study (“DFS”).Gross proceeds of £11.1m (c. US$14.7 million) raised through a share placing completed in April 2026 with new strategic investors and existing shareholders. Cash held at 30 of June 2026 of US$12.9 million (FY 2025: US$3.9 million). Rainbow continues to evaluate a potential US listing to introduce the Company to a wider pool of investors.
Comment: All cashed up and proceeding operations in an efficient way, it remains something of a mystery as to why RBW has not enjoyed the same degree of affection from the stock market as many of its peers. Clearly, the company recognises this, hence the thoughts regarding a US listing. Hopefully this will be just more than an OTCQB job.
Cobra (COBR) Cobra Resources Plc | COBR:LN , a South Australian mineral exploration and development company advancing the Wudinna Rare Earth Project and the Manna Hill Copper Project, announced the first analytical results of drill returns from ongoing slim-line Reverse Circulation drilling at Manna Hill which confirm material new copper discoveries. The Company believes its recent discoveries materially upgrade the copper and gold mineral potential of the Manna Hill Project area. Drilling continues with 32 drillholes completed. The programme has now been extended to a total of 64 drillholes.
Comment: Earlier this year it only took companies like COBR to say that they were going to be drilling to get the share price up. Now the drill result being stunning does not necessarily guarantee a share price rebound. The hope now is that previous pre-2025 resistance for the shares now becomes a support zone.
Andrada Mining Limited (ATM) Andrada Mining Limited | ATM:LN , a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, announced its unaudited interim financial results for the six months ended 31 August 2026. Revenue increased 80% to £20.6 million, with contained tin production increasing by 13% to 576 tonnes and an effective tin price of US$52 131/tonne. Gross profit more than quadrupled to £8.3 million with a gross profit margin increasing to 40.3% from 16.4%, demonstrating substantially improved operating economics. Profit after tax of £2.5 million compared with a £3.0 million loss, and EBITDA increased to £4.5 million.
Comment: This year was the year that the share price of ATM finally delivered on the fundamental promise of the company, a point which is underlined by the latest results. It should be the case that any weakness in the stock is an opportunity for long term investors to get into position. The current position of the 50 day moving average on the daily chart near 6p could be favoured by some.
Bradda Head Lithium Ltd (BHL) Bradda Head Lithium Limited | BHL:LN , the North America-focused lithium development group, today published its unaudited financial results for the six-months ended 31 August 2026. BHL said,” Looking ahead, our focus remains clear: complete the Whistlejacket drilling programme with the objective of delivering an initial NI 43-101 technical report and, subject to results, a maiden Mineral Resource Estimate by the end of 2027; advance the high-priority targets at San Domingo; secure the Basin East lease renewal; and continue building strategic relationships across the domestic battery value chain. We will also look to complete the acquisition of the Uranium project in Tanzania, with the objective being to develop an exploration plan in the coming months. With a strengthened balance sheet following the July 2026 fundraise, Bradda Head is well positioned to create value as the next phase of the lithium cycle unfolds.”
Comment: It seemed as recently as May that shares of BHL were finally getting the recognition and the valuation that they deserve, if only on the basis of the postcode and progress that the company has made, and is still making. Indeed, the uranium acquisition in itself adds a new sizzle to the fundamental argument.
MTI Wireless Edge Ltd (MWE) Mti Wireless Edge | MWE:LN , the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announced the acquisition of Interspec, a Mottech Water Solutions Ltd distributor headquartered in Aubrey, Texas, US, for a maximum consideration of up to approximately US$2.6 million. MTI will also provide funding of approximately US$1.2 million to Interspec to support the expansion of the business. MWE said, “Having worked closely with Interspec for many years, we are confident that this will be a successful, and earnings enhancing acquisition. The US is a valuable market with significant potential for Mottech to build-up a larger presence over time. Acquiring Interspec therefore represents an important first step in establishing a more direct presence from which we can expand further. This is likely to happen through the integration of other resellers within our network, alongside organic expansion into new territories.”
Comment: As I have been told in my invitation to meet the company, MWE is a “a profitable, dividend paying, growing Israeli communications business.” Presumably, the latest acquisition should bolster this position yet further. The shares are up a respectable 38% so far this year, and arguably should gather further momentum off the back of the news today.
Talisman Metals PLC (TLM) Talisman Metals Plc | OVB:LN announces initial assay results from the first four reverse circulation (RC) drill holes of the Company’s 2026 exploration program at the Tirzzit Project, Morocco. The findings include consistent copper (Cu) mineralisation within the Late Precambrian basal series sedimentary strata as expected. Highlight intercepts (see table below) include 1.56% Cu and 64 grams per tonne (gpt) silver (Ag) over two metres (m) from 8m down hole for TRC01, 0.31% Cu over 10m from 2m downhole in TRC02 and 0.31% Cu and 7 gpt Ag over 5m from 83m down hole in TRC04 (including 1m at 1.05% Cu and 19 gpt Ag).
Comment: Shares of TLM may be within recent ranges, however, they did gap higher in August and have maintained that gap. This suggests that the market is onto the merits of its exploration, and that the shares are well leveraged to fresh good news such as has been revealed today.
Halo Minerals (HALO) Halo Minerals PLC | HALO:LN : Equity Development published a research note on the copper development company focused on recovering critical minerals from legacy mining waste entitled, “Updated Competent Person’s Report shows promise.” It can be read here: https://shorturl.at/VQRER
Comment: HALO continues to get the message out regarding the scale of prospects for near term copper and gold production from surface stockpiled metal rich legacy mine tailings at its 100%-owned Playa Verde Project, Atacama region, Chile. The market should wake up to the merits of the BFS stage project. The after-tax NPV8 of US$ 195.9 million and IRR of 46% (based on CPR Ore Reserve case) speaks for itself, especially as compared to the current market cap of £9m.