Ajax [AQSE: AJAX], the natural resources investment company, announced that it has commenced negotiations with two potential buyers for the divestment of the Company’s entire interest in the Eureka Gold and Copper Project. AJAX said “As a natural resources investment company, our primary strategic goal is to maximise value from our investments. The Potential Divestment of Eureka would represent a highly value-accretive opportunity for shareholders.
Subject to completion of the Potential Divestment, a transaction on the terms currently under discussion, including a cash consideration and a retained gold royalty, would be expected to significantly strengthen the Company’s balance sheet and enhance our financial position.
Comment: It may be said quite fairly that few would have seen this deal coming, something which makes it all the more welcome. It also reminds us of how good a purchase Eureka was, and how rather than just scratching around, the whole point of explorer developers is to eventually make cash for shareholders, rather than just tapping them for cash.
Astrid Intelligence PLC (AQSE: ASTR) provided an update on its strategic position in Score (Subnet 44), operating within the Bittensor ecosystem. On 28 November 2025, the Company deployed 1,000 TAO into an over-the-counter (“OTC”) partnership transaction with Score at a 20% discount to the prevailing market price. At the time, 1,000 TAO had an approximate market value of US$300,000. The Company’s original 1,000 TAO deployment has increased to approximately 3,180 TAO. The increase reflects price appreciation and additional tokens earned through network participation.
Comment: Everyone loves a good Subnet, a little TAO on the side, and perhaps the way that ASTR talks about these things as if the market was as familiar with them as it is with the price of apples and oranges. But at least so far this has not prevented the shares bouncing 100% from their December lows.
Valereum Plc (AQSE: VLRM), a company aiming to become the global market leader in the rapidly developing tokenised digital markets sector, announce that its ordinary shares have been approved for cross-trading on the OTCQB Venture Market in the United States and will commence trading under the ticker symbol VLRMF with effect from 4 March 2026. The OTCQB Market, operated by OTC Markets Group Inc., is recognised as an established marketplace for entrepreneurial and growth-stage companies that meet defined standards of financial reporting, governance and compliance. Approval to trade on the OTCQB reflects Valereum’s commitment to transparency and regulatory standards and enables broader accessibility for US-based institutional and retail investors. Admission to the OTCQB materially expands the Company’s potential investor audience by providing access to the world’s largest capital market. It is expected to enhance liquidity, improve price discovery and increase our visibility across North America.
Comment: As has been said here before, there was a time a couple of years ago when paying the say £20k a year to be on the OTCQB was a magic bullet as far as the share price of the company which had just listed on it. Even now when some of the novelty has worn off in terms of seeking the wonderful pool of liquidity its promises, companies tout their exposure to the US market with pride.
Georgina Energy (GEX) announced that having received formal proposals after the issuing of RFQs (Request for Quotation) for an appropriate drilling rig, water well drilling rig, access road and airstrip repairs for the planned Hussar prospect re-entry well in EP513. GEX said that “The Company is confident in undertaking the necessary preparatory planning and civil engineering works required to enable the drill testing of this exciting prospect in Q3, 2026. With 300 km2 of areal closure, the Hussar prospect is one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects in onshore Australia.”
Comment: GEX is a keen on providing the market with its operational details, something which underlines the potential of Hussar, and perhaps continues to emphasise that crackpot bearish comments regarding the company and its management are wide of the mark.
Metro Bank Holdings PLC (MTRO) announced results for the year ended 31 December 2025. Underlying profit before tax of £98 million, the highest in Metro Bank’s history. 22% increase in Net Interest Income driving 16% increase in underlying Revenue. Generated highest NII and Revenue in history of Metro Bank.
Comment: There is apparently no limit to how much cash the UK’s banking cartel can fleece out of the Great British consumer. Indeed, it is so easy that even MTRO has managed to do it, making a profit for the first time since 2018.
SRT Marine Systems plc (SRT), a global provider of intelligent maritime surveillance and safety systems, announced that it has signed a new contract with a new sovereign customer to supply a national SRT-MDA System with a total value of US$261 million. In September 2025, we announced the receipt of a contract award notification and advised that the final expected value of the final contract would be approximately US$200 million. Today’s announcement confirms that the formal project contract has now been signed, with a final value of US$261 million.
Comment: It is interesting that the value of the contract and the market cap of SRT are almost the same. This may be a hint to some that the company is not exactly overvalued despite the 100% plus share price rise we were treated to last year.
Pulsar Helium Inc. (PLSR) a primary helium company, announced that the Jetstream #7 appraisal well at the Company’s flagship Topaz Project in Minnesota, USA has intersected a pressurized gas zone. The gas zone was encountered at a depth of approximately 2,107 feet (642 meters) with a preliminary bottom-hole pressure of approximately 953 pounds per square inch (psi). Visible gas influx was observed during drilling operations, confirming a strongly pressurized system. The Jetstream wells continue to maintain a 100% success rate of intersecting pressurized gas.
Comment: Although it would be nice if PLSR actually produced and sold helium, the company has clearly taken the view that it is better to either go for a land grab and / or discovery at this stage, something which has certainly done no harm to the share price.
MTI Wireless Edge Ltd (MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announced its audited results for the year ended 31 December 2025. Revenues increased 13% to US$51.5m (2024: US$45.6m). Profit from operations increased 29% to US$5.81m (2024: US$4.51m). Profit before tax increased 12% to US$5.41m (2024: US$4.81m).
Comment: Who knew that there was so much money in antennas and water control? Apparently, there is, and even though this is perhaps not the sexiest combo of things a company can do, it is breaking its own records. It remains a shame that the market continues to under-rate MWE’s achievements.
Mila Resources (MILA), the post-discovery gold exploration accelerator, presented its interim results for the six-month period ended 31 December 2025. MILA said “The period in review has arguably been the most intensive in the Company’s history, with significant operational and corporate activity. The Company has been focusing on developing the Yarrol Gold Project, one of three key licences we are advancing within the South-Eastern Goldfield of Queensland, collectively known as our Queensland Gold and Copper Portfolio. We believe Yarrol has the potential to be developed into a project of scale and following highly encouraging drilling results published in May and June 2025.”
Comment: Like many companies in the explorer / developer space, MILA and its share price felt the benefits of the boom we saw in the latter part of last year. The question now for this “post-discovery” company is whether it can follow up on the hope value which has been built up?
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
