hVIVO plc (HVO), a purpose-built, full-service international clinical development partner and the world leader in human challenge trials, announced its audited results for the year ended 31 December 2025. Revenue of £46.8 million (2024: £62.7 million).
Positive adjusted EBITDA of £1.4 million (2024: £16.4 million). The Company remains in active discussions with ILiAD Biotechnologies regarding a HCT and is finalising the agreement. High single-digit revenue growth expected in 2026, weighted to H2. Strong pipeline of opportunities across all four service lines with increasing aggregate value of customer proposals continuing into 2026.
Comment: Rather than sidestepping the fall in revenues et al over the past year by saying how well it is going to do, it might be worth reminding / telling those who have not been following the company what happened here both fundamentally and to the share price, and how this is being addressed.
Bluebird Mining Ventures Ltd (BMV), the gold streaming and treasury company, is announced the completion of a fundraise to raise £750,000 through a placing. The proceeds will be used to progress BMV’s pipeline and investment into hard assets that will bring value to the Company. BMV has continued its progress across its investment pipeline and treasury platform, as it transitions from infrastructure build-out to active capital deployment. As announced on 14 April 2026, BMV is in advanced discussions across a range of opportunities targeting short-duration paybacks and high returns. The Company is progressing with a range of asset-backed opportunities across gold streaming, bitcoin infrastructure, and powered land, alongside establishing a treasury capability designed to enhance returns through disciplined capital deployment.
Comment: Following a wonderful interview here with the company recently, we see that it has managed to sidestep the crackpot commentary and defamation / schoolyear insults, and raise money to deliver on its strategy. These psychos just don’t know when to stop.
Poolbeg Pharma (POLB), a clinical-stage biopharmaceutical company with a core focus on transforming the cancer immunotherapy field, announced that the UK Medicines and Healthcare products Regulatory Agency (MHRA) has granted Clinical Trial Authorisation for the POLB 001 TOPICAL trial. With all required regulatory clearances now in place and site initiation visits scheduled, the trial remains on track to deliver interim data this summer. The Company also announces positive findings from new independent US focused payer research conducted by Acumetis Global indicates multi-billion-dollar peak sales potential in the United States.
Comment: Given all the hype / potential being indicated for POLB, it is surprising that the shares are still at the low end of the range, and the company with a market cap of just over £30m. But of course, therein lies the opportunity.
Windar Photonics plc (WPHO), the technology group that has developed a LiDAR wind sensor and software suite designed to monitor and optimise wind turbine performance across multiple turbine platforms, today announces: Record number of new test orders in Q1 2026. FY 2026 guidance supported by a significant pipeline. £20 million Share Subscription Facility agreed with GEM Global Yield LLC SCS. Distribution partnership with Resolux, a leading wind turbine component supplier in Brazil. Final stages of CEO appointment.
Comment: WPHO appears to be doing so well without a CEO, one wonders whether there is any point in having one and potentially spoiling it all. The magic word here is certainly “pipeline” something which appears set to deliver the proverbial hockey stick leap given how hot the area the company operates is currently.
Made Tech Group (MTEC), a leading provider of digital, data and technology services to the UK public sector, announced that it has been awarded a new three year Strategic IT and Security Delivery Partner contract with the Government Digital Service (GDS), part of the Department for Science, Innovation and Technology (DSIT), with a total contract value of £19 million. This three year contract award is expected to contribute to FY27 and beyond.
Comment: As is often stated here at the RNS Hotlist, companies who have managed to get on the government gravy train with its opaque tendering system and money is no object budget, are only to be admired. Therefore today’s chunky contract for MTEC feels all the more satisfying.
Hamak Strategy Limited (HAMA) a company combining traditional gold exploration in West Africa with a Digital Asset Treasury Management strategy, announce that it has commenced a 4,125 metres reverse circulation resource drill programme on the Akoko gold project in southwest Ghana. HAMA said “We are delighted to commence drilling at the Akoko gold project in southwest Ghana. The 4,125m RC drill programme is designed to generate a maiden JORC compliant MRE and support the preparation of a PEA. Drilling is focused on the upper 80m where modelling suggests the primary oxide gold target is, and which could be amenable to low-cost open pit mining and processing.”
Comment: It is pleasing and perhaps something of a relief that HAMA has returned to its “day job” in exploration / development, rather than the new fangled digital asset space, in which many have come a cropper.
Tatton Asset Management (TAM), the on-platform discretionary fund management (DFM) and IFA support services Group, announced an unaudited trading update for the year ended 31 March 2026. Total AUM increased 11.0% to £24.2 billion on 31 March 2026 (FY25: £21.8 billion). Strong underlying net inflows of £2.8 billion in the Year. Our core business has achieved excellent organic growth, with underlying organic net inflows2 of £2.806 billion and market and investment performance of £2.456 billion driving total AUM to £24.216 billion, an increase of 11.0% over the prior year. The number of firms using our services grew by 9.7% to 1,218, and our investment proposition continues to attract recognition across the market, a testament to the strength and consistency of our adviser-led growth model. TAM said “We have continued to make excellent progress towards our five-year ‘Roadmap for Growth’ strategy, targeting £30 billion in AUM by 2029.”
Comment: TAM is making its debut here at the RNS Hotlist, if only on the basis of the Roadmap for Growth, as well as what is a suitably smug tone in the update. Clearly during the period the group enjoyed the turn of the year soaring FTSE 100 to record highs. Unless Iran is sorted out soon things may not be as easy for the rest of 2026.
Oracle Power PLC (ORCP), an international project developer, announced assay results from a further 31 drillholes at the Northern Zone Intrusive Hosted Gold Project, located just 25km east of Kalgoorlie in Western Australia. ORCP said “These results represent all the assays from the first drilling campaign of 2026. Riversgold Limited (ASX: RGL) continues to intersect shallow gold mineralisation as we seek to expand the gold footprint of Northern Zone. These latest results represent some of the best intercepts for grade and width drilled at the Project so far from an individual drilling campaign.”
Comment: Although shares of ORCP are well off their January peak, they have had a spring in their step of late, something which perhaps mirrors expectations regarding Northern Zone where the latest assay results of up to 71 g/t Au are notable.
Astrid Intelligence PLC (AQSE: ASTR), the decentralised AI infrastructure operating company, is pleased to provide an update on its operational participation in Subnet 46 (RESI), an independent AI start up within the Bittensor ecosystem. On the 29th of November 2025, Astrid committed 1262 TAO to Subnet 46 RESI through on-market acquisition of subnet tokens. As at the date of this announcement, Astrid’s holdings in RESI have increased to the equivalent of approximately 1754 TAO.
Comment: Shares of ASTR are now well off their highs of February, something which might suggest that although the market may have initially thought it knew what the company was on about regarding the Bittensor ecosystem and TAO, in fact it does not have a clue.
Thor Explorations Ltd. (THX) provided an operational update for its Segilola Gold mine, located in Nigeria, and for the Company’s mineral exploration properties located in Nigeria, Senegal and Côte d’Ivoire, for the three months to March 31, 2026 Segilola Q1 2026 Highlights: Q1 gold poured of 20,256 ounces. Q1 gold sold of 15,417 oz at an average realised price of $4,829 per ounce. Q1 cash balance of $154 million and gold bullion inventory of 4,000 oz for an adjusted net cash position of $173 million.
Comment: We received a strong update from THX just days ago. However, given what a delight the company’s performance and share price rise has been of late, having a reminder of the glory is perfectly acceptable. Satisfying that the realised price is creeping up to the magic $5,000 per ounce zone.
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.
