Yesterday I interviewed Zenith Energy (ZEN) regarding the latest developments in its arbitration with reference to the Republic of Tunisia, as well as the shenanigans against CEO Andrea Cattaneo.
Vodafone Group Plc (VOD) noted the announcement by Emirates Telecommunications Group Company PJSC (“e&”) today that e& has agreed to dispose of its entire shareholding in Vodafone to Vega, an acquisition vehicle wholly owned by the Niel family group. The relationship agreement dated 11 May 2023 between Vodafone and e& has been terminated. Hatem Dowidar, who was appointed to the Board of Vodafone as the nominee director of e&, has resigned from the Board with immediate effect.
Comment: VOD has been such a serial disappointer, that today’s development has delivered a decent jump in the share price. Perhaps this is as much on the basis that things may be shaken up here in a positive way, or just that anything is better than the status quo. Certainly the Niel family has the firepower to deliver if it was so inclined.
easyJet plc (EZJ) and Apollo Management X, L.P. on behalf of certain of its managed investment funds, announced that they have reached an agreement in principle on the key financial terms of a possible cash offer for the entire issued and to be issued share capital of easyJet pursuant to a proposal submitted by Apollo, on behalf of the Apollo Funds, to the easyJet Board on 8 July 2026 (the “Apollo Proposal”). Under the terms of the Apollo Proposal, easyJet shareholders would be entitled to receive £7.15 per easyJet share.
Comment: Although no one cares about the financial markets today as the focus is on England vs Norway (Scots supporting Norway), we do have the denouement as far as EZJ today with the no frills group managing to extract around double the pre-approach share price from a new bidder. And of course, a great result for those who bought a few days before the approach was announced…
Thruvision Group plc (THRU), a leading provider of walk-through security technology today announced that the Thruvision 8108 WalkTHRU screening solution, including SmartSCREEN and DynamicDETECT with DDAlert, has been tested following the NPSA’s Discriminative Threat Detection Systems Test Method. The testing is not pass/fail but shows that the system has capability for screening non-divested individuals for mass casualty threats. The NPSA has confidence that Thruvision has followed the NPSA’s Discriminative Threat Detection Systems Test Method in the testing of the Thruvision 8108 WalkTHRU solution and the results presented are an accurate reflection of system performance. The test method is not pass/fail and the NPSA does not endorse or approve specific products tested against it.
Comment: No one likes neither non-divested individuals or mass casualty threats, and therefore it should be the case that the NPSA chills out a bit about being so fussy regarding testing THRU’s system. We all have a living to make, and the share price chart looks rather grim currently.
Panther Metals Plc (PALM), the exploration company focused on mineral projects in Canada, is pleased to provide an update in relation to the Phase 1 diamond drill programme at the Wishbone volcanogenic hosted massive sulphide (“VMS”) prospect on the Company’s Obonga Project located upon the Obonga Greenstone Belt, Ontario, Canada.Further to the placing announced 18 June 2026 and the extension of the Obonga option agreement to 30 April 2027 (announced 6 July 2026), the Company’s drilling contractor is commissioning a second diamond core drill rig in advance of it mobilising to the Obonga site from Manitoba. Once onsite the additional drilling capacity will accelerate exploration past the originally planned 2,000 metre drilling budget. The first diamond core drill hole (BR26-WB-P1-1) at Wishbone, successfully attained the planned downhole depth of 300m, it intersected nine distinct zones of massive, semi-massive and iron-silicate dominated sulphide mineralisation commencing at a downhole depth of 77.75m to a downhole depth of 245m.
Comment: We all like a good VMS, and PALM has historically had a keen eye on such geological formations. What is helpful is that the market has started to appreciate this penchant, and that even though some of the steam was taken out of the stock in the wake of last month’s £2.5m fundraise. If it were not for that the shares would probably be 200p plus by now, rather than 130p.
Phoenix (PXC), the AIM-quoted, 100% USA focused base and precious metals emerging producer and exploration company, announces that the Retail Offer, as announced on 6 July 2026 (the “Retail Launch Announcement“), has now closed. The Retail Offer has raised in aggregate £67,218 through the issuance of 13,443,600 Retail Offer Shares at a price of 0.5 pence.
Comment: Whatever one says or thinks of the previous management, for years they did as much as they could to be as non-dilutive to shareholders as possible, and try and get financing on the best terms, arguably one of the reasons for their demise. In contrast, PXC shareholders have not only been taken to the cleaners in the wake of the fundraises of recent days, they have the sword of Damocles hanging over them in the form of a new one arriving in short order.
Shuka Minerals Plc (SKA) an African focused mine operator and developer, it has successfully completed the sixth and seventh drill holes KBDD06 and KBDD07 in the previously unmined “Speaks” and “Mine Club” zones at the Kabwe Zinc Mine. SKA said “The northern areas of the Kabwe Project are less defined so the programme here is much more of a true exploration drilling programme, we again hit mineralisation in our first holes and demonstrated the northerly reaches of the orebodies. These exploration holes give us so much more information about the orebody and its behaviour along strike. We now return to drilling more centrally in this northern orebody and will have further drilling updates in the near term.”
Comment: It remains something of a mystery as to why the share price of SKA has underperformed as compared to its peers to such an extent, last month’s bump to the upside notwithstanding. If nothing else having a geologist, rather than just a promoter as CEO should be a big win (like Guardian Metal (GMET). One would suggest that more love be shown.
EnQuest (ENQ) confirmed that, following the signing of three separate conditional farm‑out agreements with PETRONAS CARIGALI SDN. BHD. and E&P Malaysia Venture Sdn. Bhd., confirmation has been received that the existing PSC partners have waived their rights of pre-emption in relation to Package 2. Package 1 and Package 3 were not subject to any pre-emption rights. As a result, and subject to satisfaction of the Completion conditions outlined in the FOA Announcement, the Company will acquire the entirety of the Participating Interests.
Comment: Shares of ENQ are already understandably up over 100% so far this year, and it should be the case that this rally resumes not only off the back of the latest manipulated oil price rise, as well as the serious deal making the company has just engaged in. Above the 50 day moving average at 21p one would be looking to the June 27p peak by the end of next month.
Arc Minerals (ARCM), an exploration company focused on discovering and developing Tier 1 copper deposits in Africa, publish its quarterly investor letter for the period ended 30 June 2026. ARCM said “We have made significant progress in the second quarter across both Botswana and Zambia. We have almost completed the geophysical programme, ahead of an exciting drilling programme at the Virgo project. We also raised meaningful funds to cover this exploration campaign. In Zambia, we have settled all our legal disputes, which finally allows us to take the Kabompo West project forward. We are entering an important phase for Arc Minerals and I look forward to updating shareholders accordingly.”
Comment: Always the bridesmaid never the bride is perhaps the best non 21st century friendly thing to say about ARCM, with several ongoing false dawns for the company on both the fundamental and share price front. The latest update here seems to suggest that some in the market may have stopped believing – despite reassurances.
Hays plc (HAS) today announced its quarterly update for the three months ended 30 June 2026 (‘Fourth Quarter Trading Statement’), which is available at: http://www.rns-pdf.londonstockexchange.com/rns/7888L_1-2026-7-9.pdf.
The Fourth Quarter Trading Statement will also be available on the Hays website www.hays.com/investors and has been submitted in full unedited text to the Financial Conduct Authority’s National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Comment: It is normally the case that boring is good on the stock market. However, HAS manages to be the exception that proves the rule, despite today’s share price jump. The table below underlines the way that with all those negative percentages few are going to be pressing the buy button, unless perhaps it becomes a takeover target.
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.
