First Class Metals PLC (FCM) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, provided an update on the ongoing drilling programme at the Roy prospect on the Sunbeam Property, where drilling has intersected a broad mineralised structure and visible gold has now been identified within drill core.
Comment: Despite the company being kicked and punch and now and again delivering the odd own goal. Today’s news underlines the way that those who attempt to write off FCM do so at their peril. This is especially the case given that the shares have been at the bottom of the range of late.
EARNZ plc (EARN), an energy services company whose objective is to capitalise on the drive for global decarbonisation, announced that the Company has conditionally raised gross proceeds of £3.5 million at 5 pence. EARNZ proposes to use the net proceeds of the Placing to: satisfy the initial cash consideration payable for ZCG; and provide additional working capital for the Enlarged Group. EARN said “We are very pleased to have successfully raised £3,500,000, especially given the current turbulent market conditions. This achievement is a strong endorsement from our investors, reflecting their confidence in our buy and build strategy to deliver innovative and impactful solutions for local authorities and housing associations across the UK.”
Comment: Given the history of Bob Holt one would have already imagined that he would be adopting a buy and build strategy at EARN, a point which is underlined by the latest significant dealmaking. EARN has a modest £7m market cap currently, but one would imagine this is a company which will just grow and grow in what is a hot field.
Pantheon Resources plc (PANR), the oil and gas company developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska’s North Slope, is pleased to announce the intended appointment of Lord Spencer of Alresford (“Michael Spencer”) as its new Chairman. The Board intends to appoint him to his new role immediately after the close of the Company AGM on Thursday 12 March 2026. The appointment follows the decision of David Hobbs to stand down as both Chairman and as a Director of the Company at the close of the AGM.
Comment: Given the horrors on the exploration / financing front at PANR, and the torrid journey for shareholders and the share price, it could be said that even the Grim Reaper taking over as Chairman would have been a relief. The fact that it is a legendary figure such as Lord Spencer is as impressive as it is leftfield. One almost thinks the company may actually have billions of barrels.
Tap Global Group plc (TAP), an innovative digital finance hub that brings money payments and crypto settlement services together in a single user-friendly app, announced that all directors and certain senior leaders of the Company have today each entered into an agreement in favour of the Company and the Company’s Nominated Adviser pursuant to which the Participating Shareholders have voluntarily committed to a comprehensive lock-in and orderly marketing framework in respect of their respective shareholdings, representing, in aggregate, approximately 63.0% of the Company’s issued share capital.
Comment: Even Stevie Wonder could see that there was a pesky and persistent seller in TAP towards 3p, something noted here previously, a seller doing this again and again on any strength in the stock. Therefore today’s news from the company is as surprising as it is welcome for long suffering shareholders. Perhaps we could now finally witness a re-rate for the shares?
Prospex Energy plc (PXEN), the AIM quoted investment company focused on European gas and power projects, provided a letter to shareholders from the Company’s CEO, Tom Reynolds. The Company is also pleased to announce that Tom Reynolds, together with Bill Smith, Chairman of Prospex, will provide a live Corporate Presentation via Investor Meet Company on 26 March 2026 at 15:00 GMT. The presentation is open to all existing and potential shareholders.
Comment: Sometimes in the market it is luck that rules a situation, sometimes timing, and very often a combination of the two. The new CEO here has been lucky in the timing of his appointment, and with the letter to shareholders is underlining how keen he is to turn PXEN and its share price around.
Abingdon Health plc (ABDX), a leading international developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech, announced that it has been awarded a significant contract with an expected value of approximately US$2.5 million to provide project management and expert technical support for the development and regulatory submission of a clinical self-test.
Comment: It would appear that ABDX has finally laid the ghosts of the post pandemic hangover to rest, and is getting on with business in a decent way, something which today’s chunky contract win underlines. We should see the ongoing 10p technical target hit in coming days.
GreenX Metals Ltd (GRX) announced Half Year Accounts. During the period, the Company announced an historical estimate of 728,000 tonnes contained copper (1,605 Mlbs) at an average grade of 2.6% copper at part of the Tannenberg Copper Project. Outcropping gold and high-grade antimony mineralisation now confirmed at the Noa Prospect within the Eleonore North Project in East Greenland (Eleonore North or ELN). The Company has been awarded a total of up to £252m (A$495m / PLN1.3bn) in compensation by the Tribunal, plus interest of approximately six per cent per annum based on today’s rates (SONIA plus one per cent) until full and final satisfaction of the award by Poland. Interest of approximately £14 million (A$28 million / PLN 70 million) per annum is continuing to accrue.
Comment: GRX is an example of how the London market is not only not forward looking, not backward looking, but very good at not looking at all. With copper coming out of its ears, and a quarter of a billion due from Poland, of course the market is valuing GRX at a mighty £150m. For most of us such a state of affairs would mean that as management we would be crying ourselves to sleep at night. Although presumably this is not the case.
Stack BTC Plc (AQSE:STAK), the UK-based company focused on building a portfolio of high-quality, cash-generative businesses, alongside a Bitcoin treasury, announces that it has purchased 5 Bitcoin as part of the Company’s treasury strategy. Details of the purchase are as follows: Number of Bitcoin Purchased: 5 BTC Purchase Price: £52,758 per Bitcoin (Approx. US$70,790 per Bitcoin). Total Number of Bitcoin Held: 31 BTC.
Comment: Hot off the news that future Prime Minister Nigel Farage is an investor here, the company has finessed the news buying BTC, like it is June 2025. Hopefully, at current levels the downside is limited. Did I say that a future Prime Minister is an investor here?
The Smarter Web Company (SWC) announced its intention to make a discounted voluntary purchase offer for holders of certain existing warrants granted in April 2025, exercisable between 24 April 2026 and 24 April 2028, to enable third-party Pre-IPO Warrant holders to realise value from their warrants ahead of their vesting. Under the terms of the Pre-IPO Warrants, holders are entitled to subscribe for new ordinary shares of 0.1p in the Company at an exercise price of 2.5 pence per share for a two-year period between 24 April 2026 and 24 April 2028.
Comment: It has been said on X by an esteemed stock market commentator that today’s news gets a monkey off SWC’s back. This may be true. But the biggest monkey to date has been the ongoing commitment to buying an asset that has halved since October on the basis that it is a store of value. Gold would have been rather good, or even a Ferrari or old copies of The Beano.
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.
