(Alliance News) – London’s FTSE 100 is called to open lower on Wednesday, but the pound perked up following a hotter-than-expected UK inflation report. The pace of annual consumer price inflation topped forecasts, spiking to 3.5% in April, and putting focus on the Bank of England.
Comment: What one can normally rely on, is for the Bank of England to do the wrong thing at the wrong time. That said, with consumers pressured on all fronts, only interest rates at half of what they are now would rely ensure that most do not continue to work at an unsustainable loss.
Catenai (CTAI), the AIM quoted provider of digital media and technology, announced that, further to the announcement of 13 May 2025, it has now completed its investment in Alludium Ltd.
Comment: CTAI’s Alludium deal has been one of the highlighst of the small cap space so far this year, and it is likely we shall see more of this deal finessed/revealed in coming months, benefitting the share price still further.
Bezant (BZT), the copper-gold exploration and development company, further to its announcements on 16 April 2025 and 1 May 2025 regarding the conditional share purchase agreement for the sale of Puna Metals S.A. which holds the 12 licences comprising the Eureka Project located in the Republic of Argentina to Ajax Resources (AJAX), confirmed the completion of the disposal of Puna Metals S.A., to Ajax.
Comment: For AJAX to get its hands on BZT’s Eureka project and move to develop it, is arguably a win-win for both parties, as it allows BZT to focus on core assets, and AJAX to tranform into a serious mining developer.
Blencowe Resources (BRES) shared a video interview with CEO Mike Ralston, hosted by SmallCapPix, providing a strategic and operational overview across the Company’s flagship Orom-Cross graphite project in Uganda.
Comment: It is always interesting to guess on what basis a CEO choses to be interviewed by one platform or the other. Sometimes it would appear that a scattergun approach is the way to go. It looks like Mr SmallCapPix is the new Graham Norton of his field.
Cassel Capital (CASS) confirmed that it is refocusing its corporate strategy, operations and brand identity around advanced next generation defence technology. Trading henceforth as Defence Holdings PLC www.defencetechnologies.com under the stock ticker ALRT, the Company will concentrate on developing and acquiring cutting-edge capabilities including artificial-intelligence enabled sensing, secure communications, autonomous drone systems and next-generation cyber-defence to meet rapidly evolving security requirements across the United Kingdom and continental Europe.
Comment: No sooner had we recovered from the name change from Guild to Cassell, that there is a fresh change to the very serious sounding Defence Holdings.
EnSilica (ENSI), a chip maker of mixed-signal ASICs (Application Specific Integrated Circuits), announced the release of two Ku-band beamformer ICs, addressing the need of user terminals for Eutelsat OneWeb1 and other European constellations. The Ku-band covers the radio frequencies between 10.7GHz to 14.5GHz used by Low Earth Orbit systems such as Eutelsat OneWeb, as well as a range of Medium Earth Orbit and Geostationary Earth Orbit constellations.
Comment: It is a shame the company has dropped the ball, or had it dropped for it, on the share price front, as whether it be via new contracts, or new technology such as today, ENSI still appears to be making progress.
Mila Resources (MILA), the post-discovery gold exploration accelerator, announced the first batch of assay results from its maiden drilling programme at the Yarrol Gold Project in Queensland, Australia. The results received are from the first two holes of a 10-hole programme. The results for the remaining eight holes will be released over the coming weeks, with the final assays expected by the end of Q2 2025. The drilling programme was designed to test Mila’s geological model being that Yarrol hosts a structurally controlled, multi-lode high-grade gold system with scale potential along a 20km corridor.
Comment: MILA certainly comes up with the right announcement at the right time in terms of the gold price. What remains to be seen is whether this will be enough to move the dial on the share price.
JD Sports Fashion (JD.), the global retailer of sports, fashion and outdoor brands, today announces its full year results for the 52 weeks ended 1 February 2025. JD. said “We increased Group revenue on a constant currency basis by 12% with organic sales growth* of c.6%, more than double the market growth, thanks to our strong and agile, multi-brand model. We delivered a 48% gross margin, excluding the impact of acquisitions.
Comment: One imagines that JD Sports is well supported by the welfare and youth demographics, something which continues to drive growth. Alas, the market seems to believe via the share price trajectory that the best of times are over here.
Sovereign Metals (SVML) announced that it has entered into a non-binding MOU with the Electricity Supply Corporation of Malawi (ESCOM) to ensure the long-term supply of electricity to its Kasiya Rutile Graphite Project (Kasiya or the Project) in Malawi. The MOU establishes the framework for negotiating the following future definitive agreements.
Comment: Shares of SVML are regrouping near the 30p area, with the latest news underlining the way that progressing Kasiya remains front and centre for the company.
Marks and Spencer Group (MKS) announced its Full Year Results for the 52 Weeks Ended 29 March 2025 with the title “RESHAPING FOR GROWTH”. Profit before tax and adjusting items up 22.2% at £875.5m (2023/24: £716.4m), highest in over 15 years. Statutory PBT down 23.9% at £511.8m (2023/24: £672.5m); £248.5m non-cash impairment of investment in ORL.
Comment: One of the most embarrassing and sustained hacks of all time, MKS has been reshaped by hackers, not growth. One wonders what it is like to work for its IT department at the moment, if it indeed has one after the £300m hit from its cyber woes.
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. State-9 SWSE 3054 development well spudded at the Galactica helium project.
Comment: It would appear that one or two people successfully guessed there would be news today from HE1. What is interesting in this field is that we seem to get the spuds, but never the production. We also keep getting US news, rather than from Tanzania.
Currys (CURY), an omnichannel retailer of technology products and services, today issues the following trading update for the 53 week year ending 3 May 2025. Full year adjusted PBT expected to be around £162m, +37% YoY (previously guided to around £160m). Group like-for-like sales growth accelerated to +4% in the 17-week period since Peak.
Comment: In current economic conditions for any company to be flourishing on the High Street has to be regarded as something of a miracle. To exceed expectations, all the better.
Revolution Beauty (REVB) announced on 13 May 2025 that it was reviewing its funding structure and in light of this is exploring discussions in respect of support for an equity raise from its key shareholders. The board of the Company can now additionally confirm that it has received a preliminary approach regarding a possible offer for the entire issued and to be issued share capital of the Company.
Comment: Although in recent history those betting on back from the dead companies has not gone that well, we have rather better noises from REVB than most at this equivalent stage.
BSF Enterprise (BSFA) a leading innovator in tissue-engineered materials is pleased to announce significant progress in its 100% owned subsidiary, Lab-Grown Leather Ltd, a pioneer in the development of sustainable, high-quality, lab-grown leather. LGL is applying its patented advanced tissue engineering platform (ATEP™) to create leather alternatives for high-value markets, including luxury goods, aerospace, and automotive.
Comment: The market clearly liked last month’s JV news on T-Rex, hence today’s update to re-stoke the fire.
Great Southern Copper plc (GSCU) provide an update on exploration activity across its Especularita Project, where its scout diamond drilling programme targeting gold-silver mineralisation at the Viuda Negra prospect is complete. At Mostaza, core samples for Phase II drill holes CNG25-DD011 to DD017 have been dispatched to ALS Laboratories with the remaining holes due to be sampled before the end of May
