The Telegraph: Billions in aid handed to terrorists and criminals. Secret dossier reveals foreign aid and Covid relief loans were appropriated by gangs and hostile states
Comment: Counterintuitively, but not unexpectedly, successive UK governments have wanted its citizens to be at the risk of harm. All of this in order to justify harsher laws, diminished freedoms and higher taxes, as part of an elected dictatorship / Big State. Will of the people anyone?
Seraphim Space Investment Trust plc (SSIT), the world’s first listed SpaceTech investment company, notes today’s announcement by ICEYE, the global leader in sovereign intelligence from space, that it is raising €450 million ($520 million) in a primary Series F financing round led by General Atlantic at a valuation of over €10 billion ($12 billion). SSIT said “This financing round marks a significant milestone for ICEYE and, if completed on the terms announced, would represent a substantial uplift in the value of the Company’s largest portfolio holding.”
Comment: Given we are going to be treated to one of the greatest IPOs in history in the same sector that SSIT occupies, the timing of the latest RNS could not have been better. Indeed, inclusion in the FTSE 250 index also underlines how hot this area is currently, with SSIT being a leading proxy.
Tungsten West (TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine in Devon, UK, is pleased to announce that Phil Povey, Chief Financial Officer, will be attending the UK Mining Conference in Cornwall this week. The Company will present at the pre-conference Investors’ Congress today and at the main conference on Wednesday 10 June 2026. The presentation will focus on the progress being made at Hemerdon as it gets closer to restarting production, unlocking critical minerals and creating a secure supply of tungsten and tin in the UK.
Comment: It is interesting that the company has the full backing of one of the great and the good on the London stock market, but speaking to a geologist last week regarding mining Hemerdon, it is clear that however great the asset is, getting at what is under the ground will perhaps not be as easy as some think however much cash there is to throw at the problem. Just an alternative view from the current prospective multi-bagger stock.
Rome Resources plc (RMR), the DRC-focused tin and copper explorer, updated on the proposed 2026 field programme at the New Brunswick tin-tungsten-indium project in Eastern Canada. As announced by the Company on 10 March 2026, the Company entered into an option agreement to acquire working interests in early-stage exploration licences across 109 km2 of mining claims in the Canadian Province of New Brunswick, close to the Mount Pleasant deposit, hosting the Three Lakes and Schoullar Mountain Projects. It was further noted in the announcement that during the Option’s period Rome Resources shall act as the operator of the licences connected to the Projects and be responsible, inter alia, for carrying out exploration on the Licences.
Comment: The original premise of RMR was that it would be a company finding the mother lode of a mineral resource in DRC. Indeed, some years on the prospects in DRC are so monumental the company is acquiring an asset in Canada. Makes sense, right?
Imaging Biometrics Limited (IBAI) announced the publication in the peer-reviewed journal Neuro-Oncology Advances describing the results from the Phase 1 clinical trial (NCT04319276) of oral gallium maltolate in patients with recurrent or treatment-refractory glioblastoma (GBM). Imaging Biometrics, LLC, a wholly owned subsidiary of Imaging Biometrics Limited, was the primary sponsor of the trial. This marks the first in-human study results of GaM for glioblastoma. The trial, conducted at the Froedtert and Medical College of Wisconsin Clinical Cancer Center, demonstrated that oral GaM was well tolerated and showed preliminary signals of survival benefit, supporting further clinical development.
Comment: IBAI is fast shaping up to be Avacta Mk II in terms of the quality of the newsflow in a similar space. Indeed, it could very well be that by this time next year IBAI is labelled as being an heir apparent to its much larger sector peer.
Wildcat (WCAT) announced the appointment of Niclas Biornstad (NB) as Technical Advisor to the Board with respect to the evaluation and development of gold projects in The Republic of Sudan. On successful admission on to the Aquis Exchange and the completion of an initial gold project it is intended that NB will join the Board as a Non-Executive Director. WCAT said “Wildcat is very happy to announce that such an experienced and knowledgeable natural resources executive has decided to assist the Board. In particular, his skill set in relation to the evaluation of gold licences and negotiation of terms & conditions will be very useful as the Company attempts to secure its first project.”
Comment: The market continues to ignore or dismiss WCAT, partly on the basis of its jurisdiction and partly on the basis that expectations were so high in the days of Wildcat Petroleum. However, even if a fraction of the company’s gold project plans are realised we could be looking for a major re-rate, on the basis of surprise / shock value if nothing else.
Cindrigo Holdings Limited (CINH) announced the completion of the subsurface analysis and reservoir modelling for the Eich Hamm geothermal licence area (“Eich”) in Germany. Results of initial Monte Carlo simulation indicate an estimated exploitable energy potential of 157.8 megawatts (“MW”), representing a 50% increase on the estimate previously communicated, together with potential production of 7,230 tonnes per annum (“tpa”) of lithium carbonate equivalent (“LCE”). Full development of Eich is currently envisaged through three geothermal well doublets. A subsurface analysis study for Eich was conducted by GeoDa Consulting d.o.o.
Comment: The newsflow may have stepped up and headed in the right direction, as underlined today. However, it is still the case that the company is very much under the radar, with the only splash of recognition being diligently provided by the odd mention for CINH in the RNS Hotlist.
SilverBullet (SBDS), a provider of data and technology services, announces that it will today be posting a circular to Shareholders, including a Notice of General Meeting along with a Form of Proxy, to seek shareholder approval for the proposed cancellation of the admission of the Company’s ordinary shares to trading on the AIM Market of the London Stock Exchange.
Comment: Given that it has not been that long since SBDS could have been described as a stock market darling, today’s news of the company’s departure from it is a kick in the proverbials. It is also a sad indictment of the London market and the fact that despite all the talk, very little has been done to make it an attractive place to list either on liquidity or cost grounds.
Alien Metals Ltd (UFO), a minerals exploration and development company, announces its audited financial results for the year ended 31 December 2025. UFO said “2025 was a transformational year for Alien Metals, with the completion of two strategic joint ventures that I believe significantly strengthened the Company’s position whilst reducing funding requirements and retaining substantial future upside. The rapid advancement of Elizabeth Hill and Munni Munni by our joint venture partners has reinforced the quality of these assets, while Hancock continues to demonstrate the potential to become a highly attractive Pilbara iron ore development opportunity. We believe Alien entered 2026 with strong momentum, a diversified commodity portfolio and multiple pathways to unlock further shareholder value.” UFO also noted noted the release of an announcement from its joint venture partner at the Elizabeth Hill Silver Project, West Coast Silver Limited(ASX: WCE). The announcement outlines significant assay results for the first 17 of 32 reverse circulation (“RC”) drill holes completed in May 2026 at Elizabeth Hill, located near Karratha in the Pilbara region of Western Australia.
Comment: There is and has been a lot going on at UFO, something which underlines how much activity explorers and developers are incentivized to do in the current boom conditions for the space. We know Elizabeth Hill is a big deal, yet the shares remain stubbornly at the low end of the range as peers of UFO shout louder regarding their merits than this company does.
Rockfire Resources plc (ROCK), the base metal, critical mineral and precious metal exploration company, provided the market with a drilling update from Rockfire’s 100%-owned Molaoi zinc deposit in Greece. ROCK said “Strong analytical results from hole HMO-016, together with high grade pXRF results from holes HMO-017 and HMO-018 continue to build the case for a successful upgrade to the Indicated category. Multiple drill holes are being drilled from the same position, but with differing angles to intersect the mineralisation at varying depths. This is designed to help in-fill between existing drill holes vertically, as well as laterally.”
Comment: It is all about grades and funding at ROCK, with the company keen to underline that Molaoi really is an asset which will be a company maker. This along with the benign jurisdiction and the prospect of either EU or US funding (or both) suggest that the current £13m market cap is on the stingy side.
Audioboom (BOOM), the leading global podcast company, announces that, on 8 June 2026, Michael Tobin OBE, non-executive Chairman of the Company, purchased 5,810 ordinary shares in the Company at a price of 478 pence per ordinary share. Following this purchase, Michael Tobin holds 900,000 ordinary shares in the Company, representing approximately 5.0 per cent. of the Company’s current issued share capital.
Comment: While the share price of BOOM has languished further in the wake of the failed sale process, it is at least some consolation that the Chairman of the company continues to lead from the front / putting his hand in his wallet and is now on 5%. That said, he has been buying all the way down.
First Class Metals (FCM) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, announced that it has raised gross proceeds of £1,000,000 before related costs through a placing at a price of 3.8 pence. FCM said “The current funding enables the Company to advance it’s key exploration initiatives without delay, ensuring we are well positioned to deliver meaningful news flow throughout the remainder of 2026 while continuing to pursue opportunities that enhance shareholder value.”
Comment: Given the recent sharp rally for FCM shares it would have been rude not to raise cash at this time. What is of interest is the way that the funds were raised with a relatively modest discount, and what will be interesting is how quickly the rally may resume.
Andrada Mining Limited (ATM), a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, announced the third batch of results for an additional six holes of diamond drilling at Lithium Ridge Project. The additional six holes show the presence of consistent high-grade lithium mineralisation from surface. Following the completion of drilling, the exploration team continues to prioritise logging and sampling activities to expedite sample delivery.
Comment: Decent RNS updates come and go from ATM, but so far there has not been the big share price breakthrough, or the market recognition that the company deserves. Perhaps as much as anything else investors do not know what they should be wishing for in this sprawling critical minerals play? Perhaps ATM should be more forthright in telling the market what this is.
Orosur Mining Inc. (OMI) announced an update on the progress of exploration activities at the Company’s exploration project at Anzá in Colombia. OMI said “APTA was always tantalising but misunderstood as previous drilling was never pulled together into a coherent picture. After almost 15 years, this is now being done, and looking exciting.”
Comment: As in the case of Tungsten West, OMI is another company which has been well championed by one of the greatest of the great and the good on the London market. This should be all you need to know, although it is frustrating that the shares have become somewhat bogged down either side of the 20p level of late.
capAI plc (CPAI), the applied artificial intelligence (“AI”) venture platform, is pleased to announce the public availability of its Movie42 and Gamers42 beta applications, significant enhancements to Author42 and a live product webinar to be held on Friday, 12 June 2026 at 9:00 a.m. Pacific Time (PT) / 5:00 p.m. British Summer Time (BST). Further to the Company’s AGM Trading & Strategic Update announced on 21 April 2026, this Announcement provides an update on the continued development and rollout of capMedia’s content creation platform portfolio, including new functionality and public access to Movie42 and Gamers42 beta applications.
Comment: Hands up anyone over 50 / over 40 who actually understands what CPAI does and what it is trying to achieve? Thought so. In fact, what it is doing is so hi tech that one would fear that even in Silicon Valley there will be quite a few people scratching their heads regarding CPAI. Hopefully the forthcoming webinar will demystify matters to some extent.
First Development Resources plc (FDR), the UK-based, Australia-focused mineral exploration company, announced that its wholly owned subsidiary, URE Metals Pty Ltd, has been selected as a successful recipient under Round 19 of the Northern Territory Government’s Geophysics and Drilling Collaborations (“GDC”) Programme. The Company has been awarded AU$100,000 (inclusive of GST) to support the Phase I Reverse Circulation (“RC”) drilling programme at the Lander West Gold Target, part of the Company’s flagship Selta Project in the Northern Territory, Australia.
Comment: FDR remains one of the more low profile explorer / developers. But at least we have seen a reasonable recent run up for the shares, and as can be seen from today’s announcement, the company is making operational progress.
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.
