Oxford Biomedica (OXB), a global quality and innovation-led cell and gene therapy CDMO, today announced interim results for the six months ended 30 June 2026. Revenue growth: constant currency revenue increased 10% to £80.2 million; reported revenue increased 9% to £79.8 million reflecting continued demand across manufacturing and development services. Record commercial momentum: 17 new clients signed in H1 2026, more than 30% above the total number signed during FY 2025.
Post period-end, a further 4 new clients signed, broadening future potential revenue base and bringing the total client portfolio to 59 client programmes and 50 clients. Revenue visibility: revenue backlog1 of c.£193 million at 30 June 2026, with approximately £168 million of forecast. FY 2026 revenue covered by contracted client orders (as at September 2026), supporting confidence in H2 2026 delivery and future growth. Pipeline expansion: non-risk-adjusted new business pipeline3 increased by c.30% year-on-year to c.$713 million (c.£539 million), with reduced dependence on large clients and significant repeat business supporting a more resilient pipeline.
Comment: A bravura update from OXB, but one that does not necessarily hide the fact that the company rejected takeover offers at double the current share price at the start of the year. It may be wishing that someone knocking on the door in this respect now.
Eco (Atlantic) Oil & Gas Ltd. (ECO), the oil and gas exploration company focused on the offshore Atlantic Margins, announce, further to the Company’s announcements on December 4, 2025 and May 20, 2026, completion of its farm down of a 37.5% working interest (“WI”) in Block 1 CBK offshore South Africa and transfer of Operatorship of the Block to Navitas Petroleum LP (acting through a subsidiary) following receipt of the requisite regulatory approvals (Section 11) from the government of South Africa and the TSX Venture Exchange.
Comment: ECO became flavour of the year, helped along by the way that the Atlantic Basin became flavour of the month, and the oil price went through the roof as that is what President Trump’s main goal was in inciting a conflict with Iran. Given that the shares are back to where they were in March, one could argue that a rebound towards the 70p highs of the year may be overdue.
Hydrogen Utopia International PLC (HUI), a pioneering company transforming non-recyclable waste plastic into hydrogen, clean fuels and advanced materials, focusing on advanced fuels such as jet fuel and Sustainable Aviation Fuel announced that its UK subsidiary, HUI Advanced Fuels Limited, has submitted an application to the UK Department for Transport’s Low Carbon Fuels Fund (LCFF), seeking grant support for its proposed UK waste-to-sustainable aviation fuel (SAF) facility. HUI Advanced Fuels’ proposed facility will address one of the UK’s most persistent waste problems — difficult-to-recycle plastics — by converting unrecyclable waste plastics into SAF.
Comment: One might have thought that in a middle of a fuel supply crisis, especially as far as diesel is concerned, the market would be all over HUI’s sustainable aviation fuel initiative. Hopefully, the UK government will tax a few more millionaires up to the eyeballs and give the money to HUI in the form of a grant.
Tap Global Group plc (TAP), the innovative digital finance hub that brings money, payments and crypto settlement services together in a single user-friendly app, announce that, further to the announcement published on 18 September 2026 regarding the Placing it has conditionally raised £1.0 million at 1p. The Placing was heavily oversubscribed. TAP said “With over US$5.6 million of digital asset deposits already generating income through Tap Earn, we are building on an established revenue-generating platform to create a differentiated digital asset treasury. We look forward to putting the funds raised to work and continuing to build what we believe can become the UK’s largest income-generating digital asset treasury.”
Comment: It is perhaps a shame that TAP still has a share price anywhere near 1p to raise its £1m. It is also a shame that it still needs to tap the market for cash, rather than actually generating this kind of money. Alas $5.6m is not a big enough number, yet, for the company to be able to thrive, even if the latest Bitcoin rally takes it back to $100,000 plus.
Serval Resources Plc (SRVL), a company focused on building an independent copper and future metals developer, announced that field exploration has commenced at its Duékoué copper-gold-molybdenum (“Cu-Au-Mo”) project in Côte d’Ivoire. This work programme is as announced on 19 June 2026 and follows completion of a stakeholder and local community engagement programme across the project area, undertaken ahead of mobilisation. The engagement programme included meetings with local administrative and traditional authorities in Duékoué, including the Prefect, Sub-Prefect, Gendarmerie Commander, Chief of Police and a representative of the Ministry of Mines, together with representatives of all seven villages within the project’s area of influence.
Comment: Rolling its sleeves up and digging for victory, is clearly a milestone for SRVL, a point underlined by the way that we have seen a decent share price run up. With an experienced board, and professional investors on the shareholder register, we should just be at the foothill in terms of the market cap here.
East Star Resources Plc (EST), the Kazakhstan-focused gold and copper exploration and development company, presented its half year report for the six-month period ended 30 June 2026. EST said “The first half of 2026 has seen East Star’s partnership strategy move from agreement into execution, with drilling now underway at Verkhuba under our fully funded JV with Xinhai, and collaborative fieldwork being undertaken with Endeavour Mining to identify the first high impact opportunities to bring into the JV. With gold and copper prices at record highs and demand remaining exceptionally strong, and with Kazakhstan offering a mining-friendly jurisdiction and strong connections to global markets, we believe East Star is well positioned to create significant value for investors through exploration, discovery and development, supported by strategic partnerships.”
Comment: Ironically, it is only recently with the arrival of a “celebrity” investor, that EST has had a light shone on it, so that the market finally appreciates its big name JV’s, and proven copper and gold assets. The question now is how much of the recent share price momentum can be maintained?
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.
