Technology Minerals Plc (TM1), the UK listed company building a platform for critical resources, circular economy infrastructure and sovereign capability, announced that it has secured a two-year extension of the St Patrick Research Permit (PI in northwest Spain. The licence, which includes the historic Aramo Mine and is held through the Company’s wholly-owned Spanish subsidiary Asturmet Recursos S.L., is now valid until 21 June 2028.
Comment: While the company may have a decent new pair of board appointments, and raised a bit of money, the question for many followers of TM1 may be what they are actually wishing for. A research permit in northwest Spain was probably not high on the list.
Quartix Technologies plc (QTX), a leading supplier of subscription-based vehicle tracking systems, analytical software and services, announced its unaudited results for the half year ended 30 June 2026. Revenue increased by 12% to £19.4m (2025: £17.3m). EBITDA increased by 16% to £7.2m (2025: £6.2m). Adjusted EBIT increased by 21% to £4.9m (2025: £4.0m). Profit before tax increased by 21% to £4.8m (2025: £4.0m).
Comment: It would appear that the market was onto the way that today’s update from QTX would be a winner, so much so that today the shares have been marked down rather than up. Clearly this is a case of it being better to travel than arrive, although one suspects the shares will revert to the upside once the dust settles.
Shearwater Group (SWG), the cybersecurity, advisory, and managed security services group, provided an update on trading for the year to 30 June 2026. The Group has delivered a strong trading performance in H2, driven by continued growth in the Services segment and momentum from several contract wins announced previously. As a result, revenue and adjusted EBITDA are now anticipated to be ahead of market expectations with expected revenue of c.£42m, representing an annualised YoY increase of c.33% (FY25: £39.5m for 15-month period), and expected adjusted EBITDA of £2.5m, an annualised increase of 41% (FY25: £2.2m). The expected result builds on the strong growth delivered in FY25, which on an annualised basis, saw increases of 29% in revenue and 91% in adjusted EBITDA.
Comment: Although SWG is at least a few years late in getting to the destination its fans might have wanted, now that it is there the momentum is certainly building on a revenue and EBITDA basis. The only missing ingredient now is a proper share price re-rate – 60p as a minimum would be reasonable by the end of the summer.
AOTI, INC. (AOTI), a medical technology group focused on delivering outcomes-based care at home, by more durable healing of wounds and the prevention of amputations, announces its trading update for the six months ended 30 June 2026. 10% revenue growth to c.$35 million (H1 25: $31.8 million). 18% revenue growth on an underlying basis excluding Arizona Medicaid (H1 25: 17.0%). As previously announced the Company ceased treatment of new Medicaid patients in Arizona from 1 April 2026. Post period publication of proposed LCD for topical oxygen therapy by CMS, a transformational milestone, that will dramatically expand the US addressable market and growth potential for TWO2® therapy.
Comment: Given that we have a 7.4m NHS waiting list, roughly the number of new entrants to the country in recent years, the concept of care at home, or even on the street, seems rather more attractive than dying on a trolley in A&E. Alas, AOTI’s focus is largely in the US. As someone once said, “Oh dear, what a pity, never mind.”
Vodafone (VOD) a strong start to our new growth chapter “In May, we said Vodafone is entering a new chapter – one focused on stronger, multi-year growth. We have made a good start to this financial year, with broad-based growth across all of our segments and organic service revenue increasing by 5.2%. Germany saw improved retail revenues, the UK continues to show strong commercial momentum, and our Africa operations continue to grow double digit on an organic basis. This revenue growth – coupled with the new phase of our multi-year cost initiatives announced in May – has resulted in organic Adjusted EBITDA increasing by 6.2%.”
Comment: VOD can come up with positive updates until it is blue in the face. We know that the company went ex growth decades ago, therefore we have the need to emphasis on African operations to save the day. That said, the shares are tantalising close to cracking 120p 2026 resistance which may finally given the big breakthrough patient shareholders have been waiting on.
Ajax [AQSE: AJAX], the natural resources investment company, is pleased to announce that it has entered into an Exclusivity and Binding Option Agreement (the “Option Agreement”) with Western Metallica Resources Corp, pursuant to which Ajax has secured an exclusive and irrevocable option to acquire 100% of the issued share capital of Western Metallica, S.L., a fully owned Spanish subsidiary of Western Metallica which owns the Nueva Celti Copper Project located in Andalusia, Spain. Completion of the Proposed Acquisition remains subject to the terms and conditions of the Option Agreement.
Comment: AJAX continues to deal make like a dervish, something which remains underappreciated by the market, perhaps on the basis that the market is trying to keep up with the pace and the number of deals being made. Perhaps an overview of the whole AJAX concept is required?
Pathos Communications plc (NEWS), the leading PR technology business, announced a trading update for the half year ended 30 June 2026. Pathos’s financial performance in H1 2026 has seen growth in both revenues and profits. Revenue for H1 2026 is expected to be US$7.3 million, up 14% on the prior year (H1 2025: US$6.4 million), reflecting ongoing product innovation and the successful scaling of the Company’s sales channels including investment in a new sales team management structure which has seen month-on-month new client sign-ups rising by approximately 30% since its inception. Adjusted EBITDA in H1 2026 is expected to be US$1.7 million, up 31% on the prior year (H1 2025: US$1.3 million). The Board believes this growth is particularly impressive in the context of investments made in growth initiatives during H1 2026, for which the return on those investments will begin to be fully realised in the second half, and also the introduction of PLC costs from December 2025.
Comment: The first time that NEWS was covered here the complaint was that I had not heard of the company, something which is ironic given the way that we are talking about a PR company. While it would be difficult to suggest that I have still not heard of the company, I would if I could. Nevertheless, NEWS has made a good start to life on the stock market, and will do even better once it has absorbed the rip off costs of getting listed. BTW the PR of the PR group is BlytheRay…
Yellow Cake (YCA), a specialist Group operating in the uranium sector, holding physical uranium for the long term and engaged in uranium-related commercial activities, reported its performance for the quarter ended 30 June 2026. Yellow Cake’s estimated net asset value at 30 June 2026 was £6.34 per share or US$2,120.0 million, consisting of 23.21 million lb of U₃O₈ valued at a daily spot price of US$84.85/lb and cash and other net current assets of US$150.3 million.
Comment: Given that we are actually in World War III, rather than waiting for it to happen, one would have thought that uranium players should having a party at the moment. Therefore, it is still something of a surprise that YCA is still trading at a chunky discount to NAV.
Oracle Power PLC (ORCP), an international project developer, advised that Resources WA, the Company’s consultants assisting with the preparation of the Native Vegetation Clearing Permit (NVCP) and the Mine Development and Closure Proposal (MDCP) for its Kalgoorlie Gold Project, have reported back on completed studies and reports for the Company’s proposed Kalgoorlie Gold Project open pit operations, located 25 km east of Kalgoorlie in Western Australiia.
Comment: One has to concentrate to keep up with ORCP in terms of its explorer / developer activities. This is partly as we keep an eye on the company’s cash position, given how busy it is, and wonder where exactly it is heading in terms of goals following successfully earth scratching?
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.
