(Alliance News) US and Saudi warplanes carried out strikes on Tuesday against Iran-backed militants in Iraq who launched more than two dozen drone attacks in recent days, the US military said. The strikes targeted “Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure,” US Central Command said in a statement. It further warned that “the IRGC and its terrorist proxies must cease these attacks to avoid further US military response.” Jordan’s army on Wednesday said it intercepted and downed five Iranian missiles, as the fighting between Tehran and Washington resumed following the brief pause.
Comment: The conflict whose sole purpose is to keep the oil price over $80 continues, with the US getting local allies to help bolster its Iran response. It is interesting that the stock market is increasingly decoupling from the rise in the oil price, partly on the basis that this is not 1973, and partly on the basis that there are so many other inflationary / tax pressures, fossil fuel is almost marginal. Plus there is all the M&A, and AI….
The Telegraph: A new tax on income to fund social care is among the plans drawn up by officials for Andy Burnham to consider in his first weeks in office. Civil servants have developed proposals that would require workers to make mandatory contributions to a new privately managed fund to pay for their care in later life.
Comment: A collection of questions that will never be answered: Aren’t we already paying enough for social care? Would this new tax rise be needed if the NHS was more efficient? What if you do not want social care or need its when old? What if you do not believe in the Nanny State? If we were taxed less during our working lives, wouldn’t we have enough money for our old age? Is this just another way of getting people who work to pay for people who don’t work?
Sunda Energy Plc (SNDA), the AIM-quoted oil & gas company focused on oil and gas assets in the Asia-Pacific region, reported that its board of directors has been informed by Dr Andy Butler, CEO of Sunda, that he has agreed to acquire from Alumni Capital Limited the outstanding balance of unsecured convertible loan notes, which have a face value of £400,000. The CLNs were issued as part of the financing arrangements in relation to the conditional acquisition of Matahio Energy NZ Limited, as announced by the Company on 8 April 2026. The Transaction remains conditional, inter alia, on New Zealand government approval for the change of control and the Company is working towards completion of the Transaction in September 2026. The terms of the CLNs, as detailed in the announcement of 8 April 2026, will remain unchanged following completion of the transfer of these CLNs from Alumni to Dr Andy Butler. Dr Butler has indicated to the Board that he does not currently intend to convert the acquired CLNs.
Comment: To add to death and taxes, there has traditionally been something else which one could rely on, the SNDA share price falling. This has been the case at least until today’s RNS, and one presumes that even though we are up some 40% in initial dealings this morning, the £400k’s worth of CLNs featured today will only provide a brief respite to the bear run.
Hamak Strategy Limited (HAMA), a Company combining advanced gold exploration in West Africa with a Digital Asset Treasury Management strategy, announced its maiden independent Mineral Resource Estimate (MRE) in accordance with the Canadian disclosure National Instrument 43-101, for the Company’s Akoko Oxide Gold Project in southwest Ghana. Measured, Indicated & Inferred NI43-101 resource of 210,430oz at 0.76 g/t Au. Over 120,000oz of ‘free digging’ oxide material within 50m of surface at 0.81 g/t Au.
Comment: After the foray into Bitcoin Treasury (remember that), we see that HAMA’s move back to its day job, gold exploration, is delivering the goods. We are not talking El Dorado as far as the first MRE, but it is a significant start.
Diaceutics PLC (DXRX), a leading technology and solutions provider to the pharma and biotech industry, updated for the half year to 30 June 2026, highlighting strong revenue growth, continued addressable market capture and record forward revenue visibility. DXRX said “I am more confident than ever in Diaceutics and the long-term value we can create for shareholders. H1 revenue grew 22% at constant currency to £17.5 million, alongside a material improvement in the quality and visibility of that growth. ARR reached £28.8 million, increasing 75% period-on-period and 45% since December 2025. NRR increased to 146%, while gross churn fell from 19% to just 9%. Customers are staying longer, expanding their relationships and committing through recurring, multi-year contracts, creating a more predictable and durable business with high revenue visibility.”
Comment: The RNS from DXRX (a company no one has heard of, PR?), reads very well. Therefore, it is typical of the London market that along with no one having heard of the company, the shares are attempting to bounce off year lows. As things stand this will probably not succeed, which is a shame as the company has a great niche in its sector, and has reached critical mass. At least I gave it a mention. BTW change DXRX to DCTS or DIAC!
Greggs (GRG) announced Interim Results. Total first-half sales up 7.2%, with company-managed shop LFL sales up 2.1%, franchised shop LFL sales up 1.3% and additional growth from estate expansion and B2B partnership development. Profit growth reflects a soft comparator period together with growth in grocery business, strong cost control and the phasing of cost inflation. The Board’s expectations for the full-year outcome are unchanged. New products include Iced Matcha Lattes, an enhanced salad range, and the new Chicken Roll. Menu development has supported LFL sales performance.
Comment: The best part of a GRG update is usually the bit where it talks about the products that have been winning over the period, over and above the latest profit growth. This is clearly over and above the steak bake. In today’s announcement we find that it is the Iced Matcha Lattes (older people do not even know what that is), and the blessed Chicken Roll. Does anyone go to GRG for a salad?
Reckitt Benckiser Group plc (RKT) today announced its Half Year Results statement for the six months ended 30 June 2026. RKT said,“We accelerated like-for-like net revenue growth in the second quarter to drive a good first half performance. The strategic choices we have made are strengthening our execution, with all of our Areas and Categories accelerating in Q2 and a balanced contribution from volume and price / mix. The strength of our Powerbrands and strong consumer response to our recent innovations underpin these results. Our Fuel for Growth programme is reducing fixed costs, driving efficiency and providing us with greater capacity to invest. We are focused on delivering our plan for the second half of the year and reiterate our full year 2026 expectations.”
Comment: Hot on the heels of ULVR it would appear that another of the FTSE 100’s boring contingent is not only doing well, but given the decent share price rise today, the market was not expecting it to do so. This many be another sign that despite all the AI fluff these days, it is still real businesses that offer the most significant, and reliable returns to investors.
Rockfire Resources plc (ROCK), the base metal, critical mineral and precious metal exploration company, provides a drilling update from Rockfire’s 100%-owned Molaoi zinc deposit in Greece. Hole HMO-019 has returned multiple high-grade zinc and germanium intersections, including one of the highest recent drilling germanium values with a laboratory analysis of 84.1g/t Ge.
Comment: One wonders what is needed to get the ROCK share price back towards 0.2p and beyond? The first requirement is probably an explanation interview with myself by David Price, as to the opportunity here. The second is to substitute the word germanium with the word gold.
European Green Transition plc (EGT), a company operating in the critical infrastructure sector, provided an unaudited trading update on its Wind Energy Services business and Group performance for the six months ended 30 June 2026. The Group delivered statutory revenue of c.£6.8 million in the four months since completion of the acquisition of the Wind Energy Services business on 25 February 2026. The Board expects the Wind Energy Services business to generate revenue in the range of £17 million to £18 million for the 12-month period ending 31 December 2026 (noting revenue attributable to EGT will represent the 10-month period since Completion), supported by a growing orderbook and positive trading momentum.
Comment: More windmills than Holland, and enough Net Zero to make Ed Miliband blush. There is also a rather large added plus that current revenue is set to nearly triple by the end of the year. Well funded and with a fat order book, what is not to like about EGT? 2 year resistance at 17p makes for a decent end of 2026 share price target.
Premier African Minerals Limited (PREM) announced that it has today completed a subscription to raise approximately £550,000 before expenses through the issue of 4,000,000,000 new ordinary shares of nil par value in the capital of the Company at an issue price of 0.01375 pence per new ordinary share. Following the Company’s recent update regarding the Zulu Lithium and Tantalum Project, the Board remains focused on maintaining operational continuity across both Premier and Zulu while constructive discussions continue with Canmax Technologies Co., Ltd regarding an extension of the Long Stop Date.
Comment: Although it is supposed to be the case that there is no such thing as a Magic Money Tree, the closest thing that exists in the universe to such as concept is PREM, and the way that the company can raise cash at will. This is despite the way that the late (as in former), great, CEO George Roach is no longer CEO. In fact, why did he need to go, he could have just kept on raising money?
Ondo InsurTech Plc (ONDO), a leading provider of claims prevention technology for home insurers, will report its full year results for the year ended 31 March 2026 on Thursday, 30 July 2026. Gregory Mark Wood CBE, Executive Chairman, Craig Foster, Chief Executive Officer, and Kevin Withington, Chief Financial Officer, will provide a live presentation relating to the Full Year Results via Investor Meet Company on 31 July 2026, 14:00 BST. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 30 July 2026, 09:00 BST, or at any time during the live presentation.
Comment: How does one go from being a stock market darling to being a stock market disaster? Some shareholders of ONDO may very well be asking themselves this question. Indeed, they may also be asking the board why it continues to pay itself so handsomely, and when the company is going to sort out its cash position and business model? Presumably all will be revealed on July 31 at 14:00 BST. Wouldn’t it be great to get on board to turn this company around?
Cobra (COBR), a South Australian mineral exploration and development company, is pleased to provide an update on work streams to advance its Wudinna Heavy Rare Earth project where unique geology enables controlled aquifer in situ recovery (“ISR”) mining. ISR is the lowest capital and operating cost form of mining where confining geology allows for an environmentally considerate process that requires no excavation, haulage, beneficiation and provides simple processing. Results from an extensive 74 drillhole Sonic core programme have now been completed and the Company is progressing on multiple fronts to advance the project towards economic assessment and small-scale production.
Comment: COBR was one of the OG’s as far as the London market’s recent coterie of rare earth plays, and under the stewardship of CEO Rupert Verco, who does not need to talk to me anymore, continues to show that it is perhaps the most steady of plays in its space. Wuddina, and its high grades continues to deliver. A 6p share price by the end of the year would be a decent outcome for shareholders.
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.
