The Telegraph: Labour plans tax raid on holiday cottages. John Healey’s proposal to treat vacation rentals as second homes will force many to sell up, warn tourism bosses.
Comment: Perhaps the most galling aspect of the new Burnham premiership is the sincere assurances regarding the cost of living contrasting with quiet moves to tax everything that moves, as well as things that do not, such as holiday homes. Look forward to another £50bn in tax next month with the new Budget.
Defence Holdings PLC (ALRT), the UK’s software-led defence technology group, today announces that it has secured its second customer contract with the UK Government, following completion of the contracting process referenced in the Company’s previous updates to the market. The contract represents the Company’s second customer engagement with the UK Government in recent months and marks further progress in the commercial execution of the Defence Holdings Operating Model. With two revenue-bearing UK Government customer engagements now secured, the Company is increasing the level of contracted delivery across the Group whilst continuing to develop its sovereign software capabilities directly alongside end users.
Comment: This is a decent update. But of course it would be even more decent if we knew the numbers associated with the contracts. Nevertheless, contracts with the UK government cannot be sniffed at, something which may suggest it is time to look at the company and its share price more positively.
Nativo Resources plc (NTVO), the precious metals company with gold mining and processing interests in Peru, announce it has signed a conditional binding letter of intent with Chancery Royalty Limited for project finance and an equity subscription to complete the construction and commissioning of the Phase 1 La Patona Gold Ore Processing Plant. La Patona is located at Acarí, Peru, approximately 45 km from Nativo’s wholly owned Tesoro Gold Concession. Project Finance of US$3,500,000 to be drawn in seven monthly instalments with the first instalment to be made by no later than 31 December 2026. This funding is conditional on entering into further definitive documentation.
Comment: At long last we may have the breakthrough for NTVO the market was looking for, if it indeed ever believed it would come. Presumably the share price will continue to squeeze high as the end of the year and the first funds land in the bank account.
Huddled Group PLC (HUD), the circular economy e-commerce group behind Peeko, the UK’s online surplus superstore, today announced a significant strategic development with the launch of its live commerce operation. This initiative represents an evolution of the Company’s value‑driven ecommerce model and introduces live, presenter‑led shopping formats integrated with automated fulfilment and next‑day delivery. Shareholders are invited to watch the c.20-minute recorded business update, in which Founder and Executive Chairman Martin Higginson calls the move “one of the most exciting developments in Huddled’s evolution”. With weekly revenue growing to circa £100k, the board is encouraged by the early progress and looks forward to the potential rapid growth live commerce could deliver.
Comment: HUD seems to be very enthusiastic regarding its latest update, and associated video. Ideally, all of this allows the recent share price turnaround to continue, retracing some of the 71% decline we have seen so far this year.
Galileo Resources plc (GLR) announced that all the conditions precedent have been met in relation to its conditional share purchase agreement entered into on 15 June 2026 with Metal Capital Exploration Limited, a wholly owned subsidiary of ASX-listed Sandfire Resources Limited (Sandfire), with Sandfire acting as purchaser guarantor. Accordingly, Completion of the share purchase agreement (as defined in the 16 June RNS) is anticipated to occur on or around 30 September 2026.
Comment: GLR’s trajectory has been somewhat more modest than some of its fellow Colin Bird stable stocks. This is rather strange given the way that news such as today’s is good enough to be a company maker. Perhaps when it is out of the way the shares can finally show their mettle.
Tertiary Minerals plc (TYM) provided further details on the emerging higher-grade silver-copper-zinc zone following the recent reporting of laboratory analytical results from the Phase 4 drill programme at Target A1, Mushima North Project in Zambia. To date results have been released from 29 holes of the 39-hole (3,639m) programme with results from a further 8 holes awaited (2 holes not yet submitted). Target A1 is a polymetallic, silver-copper-zinc prospect, where the Company has previously reported a near-surface Exploration Target range of 15-30 million tonnes at 40-60 g/t silver equivalent.
Comment: It feels as though TYM has been delivering fresh RNS updates every other day, with Mushima North understandable featuring on a regular basis. All that is left is for the share price to deliver a definitive break to the upside through the 0.08p zone.
RC Fornax (RCFX), the UK-based consultancy delivering outcome-based engineering solutions to the defence sector’s most critical platforms, provides the following business update: Confirmed selection for a new contract with an initial value of £4.0 million through the Public Sector Resourcing (PSR) framework with a new UK Government client, subject to completion of the client’s standard procurement process and receipt of the formal purchase order, The Award means that the Company enters the financial year ending 31 August 2027 with approximately £8.4 million of secured, anticipated and selected revenue, ensuring a strong level of revenue visibility over the full year expectations.
Comment: It is all significant good news for RCFX currently, with the company a fully paid up member of the government’s public sector gravy train / money wasting machine. With the shares down 70% last year and nearly halved this year, it may be time for a turnaround.
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.
