The Telegraph: Sir Keir Starmer has resigned this morning, paving the way for Andy Burnham to become Britain’s seventh prime minister in a decade. Allies of Sir Keir expected him to announce that he would leave Downing Street after spending the weekend considering the “political realities” of his situation with his family at Chequers.
Comment: We would appear to be in an era of opinion poll politics, where the democratic vote counts for less than ever before. Of course, we have been in this non-democratic zone since Brexit. Nevertheless, if I were Sir Keir Starmer, I would be somewhat miffed about being hounded out of office after a landslide victory, even though and perhaps because he delivered every deception to get into No 10. So we have another person who has finished their ride on the beach front donkey of British politics. Next!
easyJet plc (EZJ) noted the recent announcement made by Castlelake, L.P. The Board of easyJet confirms that on 20 June 2026, it received an unsolicited, indicative and conditional proposal from Castlelake to acquire the entire issued and to be issued ordinary share capital of easyJet not already held by Castlelake for £6.25 per share in cash, including a partial alternative for easyJet shareholders to elect for unlisted, non-transferrable, non-voting shares in a vehicle within Castlelake’s proposed structure (the “Third Proposal”). The bidding vehicle would be owned 49% by Castlelake and 51% by EU nationals and potentially other investors which have not been disclosed. The Third Proposal follows two previous proposals from Castlelake with the same structure at £5.60 and £6.00 per share, respectively, both of which the Board unanimously rejected as not being in the best interests of shareholders.
Comment: The board of EZJ is wrong to reject the offer, even though 10 years ago the shares were trading at some £10 above where they are now. £6.25 is the best that shareholders will see in a long time, especially given the competition in the area. But perhaps the board just want to keep their jobs? It has been known to happen, examples available on request.
Tiger Alpha (TIR) announced a retail offer via the Winterflood Retail Access Platform to raise up to £250,000. The WRAP Retail Offer will form part of the proposed fundraise associated with the reverse takeover by the Company of Potentially Limited which was announced on 22 June 2026. The Company has announced a proposed placing and subscription of new Ordinary Shares and together with the WRAP Retail Offer Shares, to raise approximately £4,750,000 through a placing and subscription at a price of £0.05 per Fundraise Share.
Comment: Apparently TIR is another Jonathan Bixby special where he gets on the bandwagon of whatever is hot in the US and brings it over here. The hope is then that there is enough momentum in catching the zeitgeist to deliver a win before the circus leaves town. By the way, does anyone know if Jonathan Bixby is any relation to Bill Bixby, the actor who played the Incredible Hulk?
Kazera Global plc (KZG), the AIM-quoted investment company, announced that it has executed a definitive settlement agreement with Hebei Xinjian Construction CC in relation to the previously announced arbitration award concerning African Tantalum (Pty) Ltd. Under the agreement, Hebei is required to make an initial US$500,000 cash payment to Kazera, following which the settlement agreement will become effective in accordance with its terms. The payment is expected to be made from Namibia, and the parties are currently working through the associated banking and exchange-control mechanics required to enable the funds to be remitted to Kazera.
Comment: Was there ever any doubt that KZG would come out on the right side of this, especially given the runners and riders at the company? Presumably now KZG can now get on with the job of being a mining investor, and one unlike many of its peers, being cash generative.
Solvonis Therapeutics plc (SVNS), a late clinical-stage biopharmaceutical company developing novel small-molecule therapeutics for high-burden central nervous system (“CNS”) disorders, announces positive pharmacokinetic (“PK”) data from the preclinical bridging study for its SVN-002 development programme. SVN-002 is Solvonis’ proprietary esketamine oral thin-film (“OTF”) formulation being developed for moderate-to-severe Alcohol Use Disorder (“AUD”) in the United States.
Comment: Shares of SVNS have been somewhat disappointing of late, something which is at odd with the progress that the company is making in its chosen potential blockbuster fields. Presumably, today’s announcement might just remind the market of this, and allow a recovery back towards the better levels of the year through 0.3p over the summer.
GEO Exploration Limited (GEO) reported significant progress has been made at the Gorge Project in Western Australia, based on the initial findings from its field reconnaissance programme. The programme has confirmed several encouraging field indicators across the three prospects: Gorge Mine Prospect, 401 Prospect and Central Zone Prospect. These include visible gold in quartz vein samples, extensive historic hard-rock workings, copper-rich gossan material and geological features considered favourable for gold mineralisation. The work programme on site included geological mapping, validation of historical exploration results, confirmation of historic workings and drill locations, rock chip and grab sampling, and completion of an orientation soil geochemical survey over areas of known gold mineralisation.
Comment: It is interesting that GEO continues deliver decent constructive newsflow, but the shares remain in a mini-consolidation range within a strong set up. Presumably, one day soon the bulls will get the upper hand and resistance at 0.15p will lead to the December gap target at 0.23p, hopefully as soon as the end of next month.
Wishbone Gold (WSBN) announced that highly positive gold assays have been returned from the first of the assay results received from its shallow Reverse Circulation (“RC”) drilling at its Red Setter gold-copper project. Red Setter is located 20km south-west of Greatland Gold Plc’s (AIM and ASX: GGP) Telfer gold mine, and 50km east of Cyprium Metals Ltd’s (ASX: CYM) Nifty copper mine.
Comment: We are obviously impressed that WSBN continues to report to us from close to its illustrious next-door neighbour, Greatland Resources, not Greatland Gold anymore. It is to be hoped that the recent dip to one year share price lows is the bottom end of the range, and that further positive discoveries may be the catalyst for this.
Empire Metals (EEE), the AIM-quoted and OTCQX-traded exploration and development company, announced the drilling results from the Thomas Prospect (‘Thomas’) at the Pitfield Project in Western Australia. These results reflect the February to April 2026 drilling campaign, the most extensive programme undertaken by the Company to date. As announced previously, the campaign focussed on the high-grade titanium mineralisation within the in-situ weathered cap to increase the size and confidence of the existing Mineral Resource Estimate.
Comment: Shares of EEE have been creeping up since March, with the presumption being that the latest drilling results will deliver further gains. That said, as I have been advised, there is still something of a mountain to climb with some in the market regarding the merits of TiO₂. Now if it were copper or gold that might be different.
Technology Minerals Plc (TM1), the UK-listed company advancing national natural resource security and manufacturing resilience, is pleased to announce a conditional fundraise raising gross proceeds of £2.085 million. The Fundraise demonstrates strong support from both new and existing investors, including a material commitment from management. This marks an important milestone in the Company’s repositioning. It provides the financial foundation required to begin execution of the Company’s new strategic direction (codenamed ‘Mantle’), under which Technology Minerals is positioning itself as a listed national resilience business focused on building sovereign supply of natural resources, capabilities and infrastructure.
Comment: Mantle or no Mantle, the good news here is that the London market has £2m for a company which although it has so far not quite proven its model / strategy, says it is threatening to in quick time. Presumably, this £2m will get the company over whatever line it is trying to, and accept the calling of being a profitable company.
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.
