BP (BP.) said that Chief Executive Murray Auchincloss has left the position, and will be replaced by Woodside Energy Group boss Meg O’Neill. The London-based oil major says Carol Howle, current executive vice president, supply, trading & shipping of BP, will serve as interim CEO until O’Neil joins on April 1, 2026. Auchincloss will serve in an advisory role until December 2026 to ensure a smooth transition.
Comment: Those looking for a cushy job on £10m a year where there are no real performance criteria will be disappointed at today’s news from BP. Don’t mention Deepwater Horizon though.
ACG Metals (ACG): Berenberg has upgraded its target price for $ACG Metals, increasing it from £17.40 to £21.00 per share — a 21% uplift — and reiterating a Buy rating. “This update underscores confidence in ACG’s growth trajectory and future cash-flow potential.”
Comment: It has been a highly successful year for ACG, as it was the right type of company in the right sector at the right time this year. With the Anglo Asian episode well behind it, we can look forward to further shareholder value enhancement in 2026.
Capital Metals (CMET), a mineral sands company approaching mine development stage at its high-grade Taprobane Minerals Project in Sri Lanka, announced its unaudited interim results for the six-month period ended 30 September 2025. “From the exceptional results of the Phase 1 Aircore drilling programme and the subsequent Mineral Resource Estimate upgrade, to the advancement of engineering, regulatory, and commercial workstreams, we have continued to improve the foundations for Project development. Strategic investments from Ambeon Capital, alongside support from existing shareholders, have ensured the Company is well funded to complete the approvals and planning required to take FID to enable the commencement of construction in Q1 next year. With a strengthened Board, including prominent Sri Lankans, growing local engagement, and an expanding social licence to operate, Capital Metals is firmly positioned to deliver a long-life, high-grade mineral sands operation that will create meaningful value for shareholders, local communities, and Sri Lanka.”
Comment: While most companies are keen to say they have had a pivotal / transformational year, in the case of CMET 2025 really has been one. Low CAPEX was always in the mix, but this was added to by great drilling results and an upgraded MRE which has really set the share price on fire this year to the tune of 160%.
Currys (CURY) reported a swing to half-year profit and the electricals retailer has outlined plans for £75 million worth of shareholder returns. Pretax profit in the half-year ended November 1 amounted to £9 million, swinging from a loss of £10 million. On an adjusted basis, it rose to £22 million from £9 million. Revenue improved 8.0% to £4.23 billion from £3.92 billion.
Comment: Haven’t people heard of Amazon? Or do they like the grumpy / gormless in-store experience, with staff who do not know one end of a laptop / TV from the other? Clearly, the latter in enough numbers.
Tiger Alpha plc (TIR), the investment vehicle focused on incubating technology and mining projects, provided an update on its 100%-owned Bittensor subnet, Tiger Alpha, acquired in May 2025 for 200 TAO, to be re-named the Knowledge Delivery Network (“KDN-1”) and scheduled to become operational under the new name in Q1 2026. TIR said “We are encouraged by the steady progress of the KDN-1 subnet and are pleased to confirm that it is on track for full operational launch in Q1 2026. This marks a key milestone for Tiger Alpha as we continue to build practical, revenue-generating infrastructure within the Bittensor ecosystem. The Company believes KDN-1 will support long-term growth as demand for efficient AI solutions continues to rise.”
Comment: Just when no one had a clue what Bittensor was or is, we have a new concept to grapple with, the KDN-1 subnet. But it does sound impressive given that “demand for AI solutions continues to rise.”
ECR Minerals plc (ECR), the gold exploration and development company focused on Australia, announced that, further to the Company’s previous announcements, it has entered into a legally binding sale and purchase agreement to acquire Raglan Resources Pty Ltd, the owner of Licence ML 3665, which is a fully permitted alluvial gold project and operation located in Queensland, Australia, for a cash consideration of A$1.01 million. The purchase price is to be funded from ECR’s existing cash resources.
Comment: Hands up all those who thought that the next news from ECR would be a pre-Christmas placing? Yes, I thought so. Nevertheless, in the wake of the initial share price rise on acquisition news, there is still a chance of a cheeky placing into positive price action.
Tekmar Group plc (TGP), a leading provider of asset protection technology and offshore energy services, is pleased to announce that it has secured a significant contract award in excess of €8 million with an existing Engineering, Procurement and Construction (EPC) customer.
Comment: We were already on the case as far as the technicals of TGP, backed by the recent newsflow, which has largely consisted of the company being in contract win heaven. Above 10p we could see a new technical target of two year resistance near 16p early in Q1 2026.
Arrow Exploration Corp. (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is provided an update on the operational activity at the Mateguafa Attic field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest.
Comment: Shares of AXL are down nearly 50% in 2025, something which beggars believe given the strong fundamental performance. It also beggars belief that the company seems to be quite content with this state of affairs.
hVIVO plc (HVO), a full-service early phase Contract Research Organisation (CRO) and the world leader in human challenge clinical trials, announced the appointment of Richard Cotton as Independent Non-Executive Director, effective today. Richard will also serve as Chair of the Audit Committee and as a member of the Remuneration and Nominations Committees. Richard brings extensive Board-level and financial expertise, including experience serving as Chair, Audit Chair and Senior Independent Director, as well as holding advisory and senior financial leadership roles across the life sciences and other sectors.
Comment: HVO shares have been in rebound mode of late, with everyone and their mother, including Zakstraderscafe.com attempting to take credit for it. Therefore it would appear that our Richard is arriving at the company at the right time. That said, there is a long way to go to get back to the dizzy share price heights of a year ago near 30p.
Ilika (IKA), the UK pioneer in solid state battery technology, announced it has commenced shipping prototype Stereax M300s to customers, meeting an important commercial milestone. These initial deliveries will be allocated to the 21 customers which form Ilika’s existing order book, many of whom have previously received Stereax batteries for evaluation from the Company’s UK pilot line. A number of batteries from the initial batches will be allocated to the extensive M300 testing programme, which is designed to generate a larger body of test data relevant to exciting applications in active implantable medical devices (AIMDs).
Comment: Although first impressions suggest that IKA is a boring company, even second impressions for that matter, it is in a growing / cutting edge space, with battery production being the new rock and roll. This explains why the shares are up 80% this year.
Eden Research plc (EDEN), a leader in sustainable biopesticide and biocontrol technology, announced the appointment of Syngenta Crop Protection AG as the Company’s exclusive distribution partner for professional uses in indoor and outdoor ornamental crops in several EU countries and the UK. Working under a Distribution Agreement, Eden and Syngenta will register and develop the market for Eden’s novel fungicide product, to be marketed by Syngenta as “Evelta™”, for uses such as cut flowers, pot plants, trees, shrubs, and bulbs. Eden shall be responsible for, and maintain ownership of, the product registrations, whilst Syngenta will invest in, conduct, and provide access to, the biological efficacy data needed for registration purposes.
Comment: EDEN has been on the receiving end of negative attention from the shorting conspiracy squad. It is not clear why this may be the case, whether it is on the basis of something real, or someone just having a personal grudge? Probably the latter. That said, we have seen the shares come off year lows in the run up to today’s announcement.
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.
