Nyce International (AQUIS: NYCE) announced its unaudited financial results for the 12 months ended 30 June 2025. The Group said its near-term priorities remain focused on scaling operations and diversifying revenue streams across its core and emerging business lines. Key initiatives include:
NirmataPlay: Onboarding of further multi-country operators, supported by an established games portfolio and further investment into licensing and certifications. This will create a new, recurring B2B revenue stream.
ClickSpin Media: Driving growth in the Group’s affiliate marketing arm, expanding its performance marketing capabilities to support both traditional operators and the rapidly growing crypto casino channel.
NYCE Crypto Advisory: Following its launch in July 2025, this new division will provide strategic, technical, and product-focused advisory services at the intersection of iGaming and web3, underpinned by NYCE’s partner network and expertise. The advisory service complements existing Group offerings and positions NYCE at the forefront of a market projected to grow significantly in the coming years.
Proprietary Content Development: Investment into the development of proprietary games tailored to the crypto casino segment, further enhancing the Group’s ecosystem and providing differentiated offerings to operators.
Strategic Technical Ventures (STVs): Continuing to expand and grow ventures that strengthen the Group’s technology-led platform approach, building a broader product marketplace for the betting and gaming industry.
Comment: NYCE has a smorgasbord of different businesses, all of which on their own could be company makers. Of special interest is the Crypto Advisory, to service all the companies newly into treasury strategy, as well as the crypto casino concept, which is right on the zeitgeist. There is a lot packed into a company with only a £1.2m market cap.
Tertiary Minerals (TYM) announced drilling results for a further three holes from the Phase 2 follow-up drill programme at Target A1 at its Mushima North Project in Zambia. The new laboratory analytical results reveal the highest-grade silver and copper drill intersection to date and extend the mineralisation further to the north by approximately 100m. The thick near surface mineralisation now extends over an area 450m long and up to 400m wide, and remains open to the north/northwest, south/southeast and at depth.
Comment: One of the best sounding RNS updates from TYM in a long time. But at the same time this is a company which has been in a bear run decline for years, and therefore really needs a serious fundamental turnaround development, not just one good enough to get the next fundraise away.
Insig AI (INSG), a provider of AI-led analytics and machine learning solutions is pleased to announce that Lawrence Lundy-Bryan has been appointed its Digital Asset Adviser. This appointment follows the Company’s recent announcement that it is considering various strategic options, one of which being establishing a fund dedicated to investments in digital assets and related enterprises.
Comment: An interesting twist on a company getting into the digital asset space, where we have usually seen the announcement of a digital asset strategy, and then the appointment of an adviser. Full marks to INSG in doing this the right way around.
Zanaga Iron Ore (ZIOC) announced its unaudited interim results for the six months ended 30 June 2025, together with an update on post-reporting period events to 30 September 2025. Post-tax NPV (10%) increased by 37% to US$5,206 million. IRR has risen to 26.7%, reflecting improved project returns. ZIOC said “During the first half of 2025, ZIOC experienced a transformative period in its history, securing Glencore’s exit as a major shareholder and the termination of its offtake rights, while welcoming a new group of investors with substantial experience in the mining sector, including expertise in project and infrastructure development. Additionally, key elements of the strategy were developed to add value to the Zanaga Project.”
Comment: Big positive percentages in this RNS, which explain the recovery in the shares since November. The key now will be how ZIOC builds from current levels, and indeed develops a scalable new strategy.
Defence Holdings (ALRT), the UK’s first listed software-led defence company, today announced Defence Technologies’ second classified AI product build. Following the launch of Project Ixian in September, the second product is focused on edge-based analysis and identification support, one of the highest priority requirements for UK and allied forces. In simple terms, “the edge” refers to deployed environments, where data is captured and decisions are made in real time, often in austere or disconnected conditions.
Comment: It has been a couple of days, so a RNS was overdue from ALRT. That said, while the market is keen to bid up the shares on an ongoing basis, more detail regarding the cost of these initiatives, and the potential scale of the contracts that may ensue.
Northern Bear (NTBR), the AIM quoted group providing specialist building and support services headquartered in Northern England and serving customers across the UK, is provided an update on trading. Northern Bear confirms that the Group is currently trading ahead of expectations since the publication of the preliminary results on 15 July 2025.
Comment: Although NTBR is something of a dark horse, if that is not mixing metaphors, the shares are up at the highs of the year, boasting an 80% rise on the year to date. Today’s ahead of expectations should take the company to new, higher ground.
Pulsar Helium Inc. (PLSR), a leading helium project development company, is pleased to announce a landmark discovery of helium-3 at its Topaz Project in Minnesota. Laboratory results from the Jetstream #1 well have revealed sustained helium-3 concentrations up to 14.5 parts per billion (ppb) in produced gas. This level of helium-3 places Topaz amongst the highest accumulation of naturally occurring helium-3 ever publicly reported in a terrestrial gas reservoir worldwide.
Comment: PLSR serves up the type of announcement we have not had since it first started at Topaz, a big, blockbuster discovery. Those who took part in the recent fundraise should be very pleased with themselves, especially as they obviously had no idea of the positive news that was imminent.
Peel Hunt (PEEL), a leading UK investment bank, today issues a trading update for the six-month period ended 30 September 2025 (H1 FY26). Group revenue for H1 FY26 is expected to be approximately £73.8m, up from £53.8m in H1 FY25, an increase of over 37% year-on-year. PEEL said “Our Investment Banking pipeline remains healthy, benefitting from several announced transactions expected to complete in the second half of the financial year. While ECM activity, including IPOs, is beginning to emerge, transactions continue to be weighted towards M&A.”
Comment: One might say that if PEEL is doing well in current stock market conditions, we really must be in a bull market. But it could also very well be the case that this is a very clever and successful company. Anyone who would like to work for them in Abu Dhabi (tax free?), now is your chance at their new office there.
Cavendish (CAV), a leading UK investment bank, today issues a trading update in respect of the six-month period ended 30 September 2025. Our continued profitability demonstrates the broad appeal of our service offering and the efficiency of our platform. Group revenue for the period is expected to be about £28.0m versus £27.5m in the same period last year, underpinned by continued equity issuance in the public markets and a steady flow of private M&A mandates. Cash balances of £19.8m at 30 September 2025 have increased 15% year-on-year.
Comment: CAV just sounds more posh than Downton Abbey, it would be inconceivable that the company would not be doing well. What is perhaps interesting here is the “steady flow” of private M&A mandates, presumably these are not companies rushing to get listed on the stock market.
Orchard Funding Group (ORCH), the finance group which specialises in insurance premium finance and the professions funding market, announced its unaudited results for the twelve months ended 31 July 2025. “We are pleased to confirm the completion of another record-breaking successful twelve months. We have had record lending of over £120 million, record income of over £10 million, record PBT of over £4 million and record PAT of over £3 million. Our performance represents a very satisfactory post tax return on average equity of 14.89%.”
Comment: Shares of ORCH are already up more than 100% this year, in anticipation of all the good news from this trading update. Given that the company is still relatively uder the radar, there could / should be yet more upside.
Greggs (GRG) “Progress in a challenging market; full year outlook unchanged.” Total sales up 6.1% for the 13 weeks to 27 September 2025, and 6.7% year-to-date. Company-managed shop like-for-like sales up 1.5% for the 13 weeks to 27 September 2025, and 2.2% year-to-date. Improved trading in August and September following heat-affected July. GRG said “We have upgraded our sandwich options and new sourdough toasties enhance Greggs appeal across the day. Encouraged by the early success of our Pulled Pork Sandwich trial, this product has now been extended to 350 shops and innovation continues in our iconic savouries, with the flavourful Chicken Fajita Bake and the return of the Vegan Lattice (Steak-Free), catering to flexitarian trends.”
Comment: GRG is clearly marketing its products to those who have skipped breakfast this morning via the RNS. Blaming the weather for performance, not normally a good thing, it can be seen that GRG is at least holding its head above the water, especially in terms of cost pressures.
Active Energy Group (AEG), an alternative energy company focused on the deployment of renewable infrastructure and the integration of advanced digital technologies, is pleased to announce the signing of Heads of Terms with a third-party for the first stage of its 300 MW United Arab Emirates pipeline, together with significant progress in its strategic rollout of digital infrastructure in the region.
Comment: It would appear that companies who were previously struggling have a go to strategy these days, after the temporary blip in treasury strategy earlier this year: renewable energy / energy infrastructure. So far this is working for AEG.
UK Oil & Gas (UKOG) announced that its wholly-owned subsidiary UK Energy Storage (“UKEn”) has executed a Memorandum of Understanding with National Gas Transmission PLC, the nation’s principal gas pipeline operator, transporting gas to power stations, industries and 24 million homes. National Gas is developing the national 100% hydrogen pipeline system, Project Union, aimed at connecting future centres of hydrogen production, storage and consumption.
Comment: Ditto with AEG. So good to have UKOG back, we really missed it in our lives.
MS INTERNATIONAL (MSI) announced that its wholly owned subsidiary MSI-Defence Systems US LLC (based in Rock Hill, South Carolina, U.S.A.) has been awarded a further contract by the United States Navy (NAVSEA). The contract commences with immediate effect, with Gun Mounts and associated Maintenance Assist Modules and On Board Repair Parts providing a total contract value of $34.5m. Delivery of all equipment is for no later than 30 December 2026.
Comment: A massive contract for a UK company from the most American of organisations. Presumably no one has let President Trump know what has happened here.
Arrow Exploration Corp. (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, provides an update on the recently drilled exploration well, Mateguafa Oeste-1, on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest. AXL said “The results of the Mateguafa Oeste-1 exploration well provide calibration for existing future prospects. The well was drilled under budget, and successfully hit the reservoirs as delineated by geological and geophysical control. The well had thin oil pay over water and was deemed uneconomic. This is the first dry hole that Arrow has drilled out of 40 exploration and development wells to date.”
Comment: Given that the market took the other 39 successful holes in a rather nonchalant way, it would be rather churlish if shares of the already underperforming AXL were marked down to any extent now. But of course, the London market is rather like that.
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.
