Kendrick Resources Plc (KEN), the mineral exploration and development company, announced a fundraising of £1,764,000 from Directors, a U.S. managed fund, a U.S. family office and existing shareholders.
The proceeds from the Fundraising are planned to be used in relation to advancing the Bonya Rare Earth project in Namibia where a drilling program is underway targeting a maiden JORC resource by the end of Q3 2026, advancing the Strategic Development and Operational Delivery plan announced on 6 May 2026 and for the Group’s working capital requirements.
Comment: Given the way that KEN has a near £30m market cap, it is interesting that we have only seen a relatively modest fundraise. This may explain why the shares are actually well up on the 7p fundraise level. Ideally, this should now allow the stock to head for double figures, sooner rather than later.
Further to the announcement of 9 April 2026, Wishbone Gold (WSBN) is exercising its exclusive option to acquire the Silver Lake Project, the high-grade silver project in the ideally located Carnarvon Basin of Western Australia. As previously announced on the 9 April, historic rock chip sampling has reported multiple very significant silver (“Ag”) results across a number of project areas, including 847g/t Ag at Tarrawarra 1; 410g/t Ag at Cardabia Creek 7 to name a few. The stratigraphic nature of mineralisation has significant scale potential, with prospects identified up to 4.7 km from potential causative fault structures. Current models suggest a 35 km long by 10 km wide basin.
Comment: Having raised cash just a month ago, one would assume that WSBN is safe from now from the shorting conspiracy and its attempts to sabotage the company for purely sadistic reasons. In the meantime it would appear that Silver Lake is a decent project, and could turn things around for the company in its own right.
EnergyPathways plc (EPP) announced the appointment of Martyn Millwood Hargrave as Chief Scientific Adviser to the CEO and Board. His appointment further strengthens the Company’s technical, strategic, and policy capability as it advances its MESH energy storage project and its broader integrated energy, hydrogen and industrial materials ambitions. The Company’s MESH project, expected to be Britain’s largest integrated energy storage project, will bolster Britain’s energy security and lower consumer bills.
Comment: Anyone who knows anything about the Labour Government would know that its goals are to have no energy security and to punish us all with the highest energy bills in the Western World. Therefore, without pouring cold water on EPP, it will be interesting to see how MESH pans out.
Ariana Resources plc (AAU), the mineral exploration and development company with gold project interests in Africa and Europe, reported the completion of a revised Pre-feasibility Study (“PFS“) for the 100%-owned Dokwe Gold Project in Zimbabwe. AAU said “This is a major milestone for the Company as it progresses its DFS, which is due for delivery in Q1 2027. With the total ore reserve significantly increasing by 42% to 1.13Moz, this is a genuinely outstanding result and sets the scene for a significantly expanded mining and processing rate, which yields an NPV10 in excess of US$1bn.”
Comment: We have asked the question many time here, as to what AAU needs to do to have its shares properly rated by the market. One would perhaps not be covered by bloggers that no one wants to hear from, the other would be to deliver a blow the lights out announcement such as today’s. At least the latter is in the company’s hands.
Mendell Helium (MDH), the helium production company with operations in Kansas, is pleased to provide an update on the Company’s operations in Fort Dodge, Kansas. MDH said “This month marks a significant increase in activity by Mendell Helium. For the first time in our history, we have three rigs operating at three locations. The purpose of the recently completed fundraising was to give us the ability to accelerate our growth and we have wasted no time in putting this into effect. Alongside these operations, our subsurface team is examining the locations for our next phase of production wells and we expect the new faster pace of our operations to continue during 2026.”
Comment: There continue to be high hopes surrounding MDH, if only on the basis that unlike many of its peers, rather than talking about or proving up helium, we have a producing company on our hands. It helps that money was only recently raised to ensure the company gets on with the job.
Kazera Global plc (KZG), the AIM-quoted investment company, is pleased to announce that its wholly owned subsidiary, Whale Head Minerals (Pty) Ltd, has entered into a binding Production Sharing Agreement with South African mineral processing group Rare Earth Minerals International (Pty) Ltd in relation to the Walviskop Heavy Mineral Sands (“HMS “) project in the Northern Cape, South Africa. The PSA, which takes effect from 1 June 2026 and has an initial term of 12 months, is expected to materially enhance operational capability, accelerate production growth and significantly reduce the working capital burden associated with scaling operations at Walviskop.
Comment: Shares of KZG are nearly double their lows reached at the beginning of last month, as the newsflow starts to kick in positively, with today’s being a decent example. We are looking for the big break of the 200 day moving average at 1.25p the next big technical goal.
genedrive plc (GDR), the point of care pharmacogenetic testing company, today announces that Mr David Nugent has joined the Board as a Non-Executive Director with immediate effect. David has been a shareholder in the Company for several years and more recently was a key cornerstone investor in the successful equity financing announced on 13 February 2026. He owns over 25% of the Company’s issued share capital and is the Company’s largest shareholder. David has volunteered not to be paid a fee for acting as a Non-Executive Director until the Company becomes EBITDA positive. Further, Dr. Ian Gilham, who has been a Director of the Company since 2014, including acting as Chairman since 2015, has informed the Board that he anticipates stepping down as Chairman.
Comment: No one can say that Mr Nugent does not deserve to be NED at GDR, and his intervention was certainly needed. It is also the case that after a rather long and very often painful journey the company needs new direction and management to see it through to the Promised Land, wherever that may be.
Bradda Head Lithium Ltd (BHL), the North America-focused lithium development group, is pleased to announce that the Arizona State Land Department (“ASLD”) has approved its Geologic Field Operations Plan (“GFOP”) for the Company’s joint venture with Kennecott Exploration Inc (“KEX”) known as the Whistlejacket lithium project in Arizona.
Comment: BHL is certainly off to the races in share price terms, something which was highlighted here early doors given that we have been waiting keenly for the stock to take off for the longest time. The current position is that the shares have jumped from their 2nd target at 3.1p and we are looking to a 5p destination by the end of next month – this side of the 3p zone.
Forgent plc (FORG), the technology-led energy transition company, provided an operational update regarding its Peak Hill project, a large-scale advanced gold and copper exploration project in Western Australia, approaching drilling. The Company believes Peak Hills offers the potential for near term drilling and a low-capex development pathway due to the presence of existing nearby processing infrastructure. “The Company is now moving to active drilling at Peak Hills with operational and financial resources increasingly focused on unlocking value from the drillbit this summer. We believe the combination of shallow mineralisation targets, strong historic results and nearby processing infrastructure creates a compelling platform for focused modern exploration and potential accelerated commercialisation.”
Comment: In honour of the fan or two that FORG seems to have, and the way that many may not be familiar with the new name, we are giving the shares a mention today. That said, it will still take a lot to reverse the massive decline in the stock we have seen since the start of the year, today’s news notwithstanding.
Greatland Resources Limited (GGP) announced that its Havieron gold-copper project has now received both primary environmental permits required for its development and operation. Primary environmental approval from the Western Australian Minister for the Environment (Part IV approval under the Environmental Protection Act 1986 (WA) (EP Act)) was received on 25 May 2026 following a recommendation from the WA Environmental Protection Authority that the Project be implemented, subject to specified environmental conditions.
Comment: GGP’s victory run continues, as much in the newsflow which continues in a significant way, as in the share price momentum. As we saw at the start of April the shares have gapped up above their 50 day moving average now at 688p, and seem fully capable of revisiting the highs through 800p by the end of June again.
EARNZ plc (EARN), an energy services company whose objective is to capitalise on the drive for global decarbonisation, announced its audited results for the year ended 31 December 2025. Revenue increased to £11.8m (FY25: £2.6m). Full year impact from the acquisitions of Cosgrove & Drew Ltd (“C&D”) and South West Heating Services (“SWH”) in September 2024. EBITDA of £0.1m (FY25: (£1.0m loss)). Achieved despite significant increase in central support costs to support business growth.
Comment: To get into the black at what is still relatively early days is certainly something of an achievement for EARN, although of course with supremo Bob Holt behind the company, this is hardly surprising. This looks like it has the makings of yet another successful rollup play.
Panther Metals Plc (PALM), the exploration company focused on mineral projects in Canada, announced the commencement of a discovery focussed diamond drilling programme at the Awkward Conduit Target, within the Company’s Obonga Project located upon the Obonga Greenstone Belt, Ontario, Canada. PALM said “This is a discovery programme designed to test the Awkward conduit theory, which has generated by far the greatest level of interest from across the industry of any target within our portfolio. While the indicators we have assembled are extremely encouraging, the conduit model remains a geological theory that is currently being tested through drilling, and it is important that we remain cautious.”
Comment: Although the shares are still some way away from the back of an envelope £20 a share target from someone who should know what they are talking about, they are certainly getting there. Our initial technical target is towards 180p, which at the current rate of progress could be hit by the end of next month, in the wake of news such as today’s.
Poolbeg Pharma (POLB), a clinical-stage biopharmaceutical company with a core focus on transforming the cancer immunotherapy field, announces the positive outcome of a pre-Investigational New Drug (IND) meeting with the U.S. Food and Drug Administration (“FDA”) for POLB 001, the Company’s lead asset, a potential preventative therapy for cancer immunotherapy-induced Cytokine Release Syndrome (“CRS”).
Comment: The London market being the London market, it is playing it very cool regarding the significant progress POLB is making. It is almost as if investors are not aware of how important interaction with the FDA is, especially the IND stage.
BSF Enterprise PLC (BSFA), a biotech platform company driving a bio-sustainable future through its three high-growth subsidiaries, announced updates to its strategic operations for 1/2-year 2026. The activities are structured to accelerate commercialisation with imminent value-inflection milestones across BSF’s three subsidiaries -beyond any existing research and development (R&D). The Board believes 2026 represents a critical time for BSF and its shareholders based on three key pillars:
- Progressing from R&D towards Commercialisation: The Company has made significant progress in translating its research programmes into commercial and clinical-stage activities. The T-Rex leather exists, Kerato trials are live, and CytoBoost™ is shipping.
- Simultaneous Infrastructure Upside: Unlike single-asset plays, there are three completely distinct high-growth assets simultaneously , distributing risk and multiplying potential upside events.
- Anti-Dilutive Spin-Out Structure: The Board is evaluating potential subsidiary-level financing options, including possible spin-out structures, which may enable future growth capital to be raised at subsidiary level.
Comment: It is clear that BSFA is in the sights of the shorting conspiracy, getting persistent, negative coverage, designed to take the company down by discrediting it so people do not buy the shares / sell them, and to take away the company’s ability to raise money. At least today’s update shows BSFA in positive mood, even though presumably nothing will be done regarding the slurs it gets.
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.
