Atlas Metals (AMG), the natural resources and energy company, provided an update on the Company’s proposed acquisition of Universal Pozzolanic Silica Alumina Ltd. Further to the Company’s announcement on 28 November 2025, the Company has recently engaged SLR Consulting Australia Pty Ltd (“SLR”), to conduct a confirmatory drilling campaign, commencing on Lots 7 and 8 at the Yammacoona Sand Quarry in New South Wales, Australia, with the intention of proving a measured resource.
Further drilling on Lot 5 may be initiated based on the initial results of Lots 7 and 8. Atlas Metals is expecting SLR to complete the drilling activity in early 2026 in order to provide an updated Competent Person’s Report (“CPR”), which is expected to include certain JORC resources being upgraded from the inferred to measured category, prior to the completion of the Proposed Acquisition.
Comment: 2025 to date has given us a heavenly rally in AMG shares, followed by a hellish decline which is still ongoing. Judging by today’s stock market reaction the market is not as interested in drilling campaigns, where for a worth cause or not. The question is whether 11p is now a cheap as chips level for the share price? It should be, but.
Ajax (AQSE: AJAX), the natural resources investment company, announced that its fully owned Argentine subsidiary, Puna Metals S.A. has signed a conditional Option-to-Purchase Agreement for 100% of the Rachaite Prospect, a potentially large polymetallic silver, lead, zinc and copper/gold opportunity in north-western Argentina with an established local mining company.
Comment: Another day, another deal from AJAX, and one that keeps the company in the groove of finding undervalued, underloved projects from which to extract the maximum value for shareholders. Indeed, it is usually the case that just the acquisition is the win from day one.
Metir plc (MET), the leading global provider of fast response mobile and point-of-use water and environmental testing technology, announced the successful completion of a fundraise, arranged by the Company’s Joint Broker Turner Pope Investments Limited, is to raise up to £1,000,000, before expenses, to support the continuing growth of the Company. MET said “As announced in the trading update on 2 December 2025, the cost base of the Company remains very tightly controlled and is supporting strong growth but management believes that this growth is being constrained by sub-optimal levels of working capital. The Board believes that additional financing would support stronger growth and move the Company into profitability more quickly.”
Comment: Presumably the positive take away here is that the cost base is so tightly controlled that MET only needed to raise £1m. That said, well done to Turner Pope for raising the cash so close to Christmas. In future, perhaps not leaving it to the last minute may be best.
East Star Resources Plc (EST), the Kazakhstan-focused gold and base metals explorer, provided an update on drilling activities which have been completed at the Rulikha North and Talovskoye West targets. EST said “We have identified a fertile hydrothermal cell at Rulikha North, which shows that there is a large system, requiring further exploration. We’re excited to follow up on this target in 2026 in the hope of delineating another ore body in this hugely productive and underexplored region.”
Comment: Although some of the sizzle in terms of EST’s newsflow has been translated into a bigger market cap, the company remains well off the radar given the JV progress and that on and in the ground. Perhaps a little more effort should be made communicating its wares to the market, rather than just hanging out in Kazakstan.
Red Rock Resources (RRR) announced its Final Results. RRR said “The Company remains fairly highly indebted while it awaits these payments, as it has sought to maintain a portfolio of what is considers to be high quality exploration assets while waiting for a major, and excessively delayed, liquidity event in the DRC. The Company’s ability to address short-term needs while awaiting major inflows is enhanced by the change in the news background, especially with recent developments in the DRC.”
Comment: One would have hoped that RRR could be making hay while the sun shines given the way that this has been a bumper year for explorers / developers in the space. Losing £4m in this environment makes one wonder what would have happened if this were not the case. Alas there is no hay yet, but perhaps the promise of jam tomorrow, which has been the story of the company all these years.
Coinsilium Group Limited (AQSE: COIN), the Aquis-quoted digital asset investor and venture builder, updated in respect of its portfolio company Otomato Web3 Agent Protocol (“Otomato”), a protocol enabling users to create autonomous agents capable of managing both on-chain and off-chain tasks without requiring coding expertise. Otomato has informed the Company that it has secured a USD2 million strategic investment from a leading UK-based deep-tech company, recognised among the top 20 private technology firms in the UK. The transaction was completed through an equity subscription, resulting in the new investor becoming a significant shareholder in Otomato’s Singapore-registered, software development company entity, Dyment Labs Pte. Ltd.
Comment: Ideally at COIN, the rest of the company’s operations would have been there to support the shares and sentiment in the wake of the come down since the early summer Digital Asset Treasury boom. Perhaps the market is being somewhat unfair in not factoring in the fact that the company has a proportionate business in Web3 et al.
Atlantic Lithium Limited (ALL), the Africa-focused lithium exploration and development company targeting the delivery of Ghana’s first lithium mine, updated regarding the status of the Mining Lease in respect of its flagship Ewoyaa Lithium Project in Ghana. The Company confirm that a revised Mining Lease has been submitted to the Parliament of Ghana and referred to the Select Committee, per the necessary process for ratification.
Comment: Although there are obviously fewer stages to attain Nirvana than the process that ALL is undertaking in terms of the mining lease progress, today does reveal progress even though it feels that it will take until Prince George gets to the throne before the company gets over the line. At least the market has so far rewarded ALL with a 37% share price rise so far this morning.
On Thursday Neo Energy (NEO), the near-term, low-cost uranium developer, updated on its funding strategy for the proposed acquisition of the Beisa Uranium and Gold Project including the Beatrix 4 mine and shaft complex, the processing plant complex and associated infrastructure as well as other advanced uranium assets in South Africa’s world class uranium and gold mining sector that the Company entered into conditional agreements to acquire in Q4 2024. NEO said “The Company is continuing to work with its corporate and strategic advisors in the United Kingdom and South Africa, Bacchus Capital Advisors and AcaciaCap Advisors Proprietary Limited, respectively, as well as its joint brokers in the United Kingdom, Shore Capital Stockbrokers Limited and CMC Markets UK PLC, respectively, to ensure that the Company has the necessary funding in place to complete the acquisition of the Beisa Mine once the conditional acquisition has received all outstanding regulatory and shareholder approvals.
Comment: Just when you might have though that NEO was yet another of Jason Brewer’s stock market version of an unfinished symphony, we appear to have real progress, and with a few decent service providers and expensive sounding advisors in the mix. At the very least we can rejoice at the 23% share price rise so far today after the shares were re-listed last week.
Further to Anemoi’s (AMOI) announcement dated 27 October 2025 in respect of the proposed acquisition of the Trasna group of companies, today it announced that it has entered into a share purchase agreement to acquire 100% of the entire issued share capital of Sym Technologies Holding Limited by way of a reverse takeover. Acquisition of Trasna (Abu Dhabi) for total consideration of $150,000,000, payable entirely via the issue of new ordinary shares in Anemoi at a price of £0.02 per ordinary share.
Comment: At least judging by the share price so far this morning the market has noticed and likes the AMOI deal. This is just as well given the way that we have recently seen a rebound in the stock presumably in anticipation of today’s news. The spike high for the shares through 4p in early summer could yet be revisited.
Defence Holdings PLC (ALRT), the UK-listed defence technology group, today provided an operational update outlining continued progress across its sovereign-AI product suite, expanding engagement with allied defence stakeholders, and strengthened organisational readiness as the Company enters its next phase of delivery and commercialisation. The Company also announces its unaudited interim financial results for the six-month period ended 30 September 2025, which include the previously reported audited results for the eighteen-month period ended 31 March 2025.
Comment: Ahead of psychotic and deliberately one sided comments based on personal antagonism that the company will no doubt be subject to later today, it may be worth delivering a more measured assessment of ALRT. One can see that the company is keen on going for the commercialisation phase of its development, after exciting the market regarding its potential place in the booming defence sector.
Helium One Global (HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, provided an update following the Blue Star Helium (ASX: BNL) announcement issued today regarding the Galactica Project. Highlights: Start-up and commissioning of the Pinon Canyon processing facility completed with helium gas now being successfully processed. Offtake agreements expected to occur in two phases: short term contracts to generate sales in January 2026, followed by longer term partnership agreements to secure sustained revenue stream. Forward plan expects to see revenue growth during H1 2026 through additional well tie-ins and infill drilling. Full plant capacity will be maintained via infill and expansion drilling with life of project expected to exceed 12 years.
Comment: The ongoing excellent news from its US investee only serves to remind us how quiet HE1 is regarding Tanzania. That said, one would conclude it is just as well the company made its Galactica investment, otherwise shareholders would have spent much of the recent past merely staring at the wall. Maybe it is time for another fundraise to wake them up?
ECO Animal Health Group plc (EAH), a rapidly growing global animal health company with a portfolio of marketed veterinary products and a maturing proprietary R&D pipeline, announced that the European Commission has adopted a decision granting EU marketing authorisation (MA) for ECOVAXXIN® MS, the Company’s poultry vaccine against Mycoplasma synoviae. The MA has been issued over a month earlier than anticipated following the Committee for Medicinal Products for Veterinary Use’s Positive Opinion in November 2025. ECOVAXXIN® MS provides active immunisation of future layer and breeder chickens from four weeks of age.
Comment: It would appear that anyone who spends sleepless nights fretting over the fate of breeder chicken can now rest easy in the beds in the aftermath of the latest news from EAH. That said, the company seems to be thriving in its chosen specialist space, with the shares rallying hard since the summer, and momentum gathering.
(Alliance News): Peace hope lifted shares in London-listed iron ore pellet producer Ferrexpo (FXPO). Shares in the firm, which operates in Ukraine, rose 4.3%.
Comment: It remains the case that if we are to be treated to the end of the idiotic 20th century style war in Ukraine, from people still stuck in the 20th century, shares of FXPO look very cheap at 76p as compared to their pre-war 250p plus. Indeed, even if there is no end to the debacle one might say that the doom is in the price.
Ariana Resources plc ( AAU), the mineral exploration, development and production company with gold project interests in Africa and Europe, announced that it has entered into a binding definitive agreement with Hongkong Xinhai Mining Services Ltd. (part of Shandong Xinhai Mining Technology & Equipment Inc.) to provide the Company with A$8 million in immediate funding and to conduct a Metallurgical Sampling and Testwork Programme and to progress the Definitive Feasibility Study at the Dokwe Gold Project in Zimbabwe which is 100% owned by Ariana.
Comment: Although some might argue that one should not take Chinese money for mining activities especially given its export ban tendencies, President Richard Nixon created a monster from the 1970s and we are where we are. Today’s news is another example of AAU simple not getting the credit for the level of progress that is being delivered. What to do?
Pantheon Resources plc (PANR), the oil and gas company developing the Kodiak and Ahpun oil fields near pipeline and transportation infrastructure on Alaska’s North Slope, today issued a letter to shareholders from Pantheon Chairman David Hobbs. PANR said “Looking ahead, we remain confident in the value inherent to our asset base, representing one of the largest undeveloped oil resources on the Alaskan North Slope. In our updated 2024 Independent Expert Report by Netherland Sewell & Associates, Inc., best estimates of Kodiak’s contingent recoverable resources sum to 1.2 billion barrels of marketable liquids and 5.4 trillion cubic feet of gas. We are renewing focus on our Kodiak field, with a parallel analysis and appraisal programme developed to accelerate progress – all being done concurrent with additional testing and analysis of our data from Ahpun.”
Comment: If you are in the resources space you do need an element of luck. It would appear that PANR has in general been about as lucky as Lord Lucan. Billions and even trillions are mentioned, all within the context of a market cap now down to £115m. Those who took part in September’s $30m placing will have been fortunate to have got out over 30p in the wake of the fundraise, and would now be counting their blessings.
Solvonis Therapeutics plc (SVNS), an emerging biopharmaceutical company developing novel medicines for high-burden central nervous system (“CNS”) disorders, provides an update on progress across its development pipeline and discovery programmes as the Company concludes 2025 and enters a catalyst-rich period in 2026. SVNS said “2025 has been a transformative year for Solvonis. The completion of the acquisition of Awakn Life Sciences in May materially reshaped the Company, establishing a differentiated CNS platform spanning late-stage clinical development, earlier-stage discovery, and multiple regulatory pathways.”
Comment: 2025 has already been a catalyst rich period for SVNS, something which at 0.25p does not reflect the potential of a company which only deals in potential blockbusters that address the largest unmet needs. The concept alone merits more than the current £17m market cap.
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.
