* A corporate client of Hybridan LLP.
** Potential means Intention to Float (ITF) or similar announcement has been made.
***Arranged by type of listing and date of announcement.
****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication.
Dish of the Day
Admissions:
None
Delistings:
None
What's baking in the oven "new today?"
None
Banquet Buffet****
London Stock Exchange: Main Market and AIM
Alien Metals Limited 0.09p £10.63m (UFO.L)
The minerals exploration and development Company announced that GreenTech Metals Limited, an Australian listed business, in which Alien holds a stake of approximately 10%, has reported exceptional high-grade copper-gold-silver-zinc assay results from diamond drilling at its 100%-owned Whundo project in Western Australia. The drilling was at the Ayshia deposit, and it was notable for the inclusion of a 3.44 metre intersection grading 9.43% copper - the highest-average-grade multi-metre copper intersection identified at Ayshia to date and one of the highest-grade copper intersections recorded across the broader Whundo Project. The exploration program is designed to add to the existing Whundo mineral resource of 6.2m tonnes at 1.12% copper, and 1.04% zinc, with an updated Mineral Resource Estimate targeted for Q4 2026.
Arkle Resources 0.68p £10.37m (ARK.L)
Arkle announced an update on its uranium prospects in Namibia. It holds an 85% interest in four exclusive prospecting licences covering 540 km² in the Erongo Region, and these licences are directly contiguous to three world-class deposits: the producing Rössing mine, the Trekkopje deposit, and the Marenica deposit (Elevate Uranium). A 2025 sampling campaign confirmed uranium mineralisation at surface with uranium grades of up to 3,855 ppm (parts per million), and Arkle followed up on that this morning via a declaration that the first phase of trenching, mapping and geochemical sampling at the primary uraniferous leucogranite (ULG) target on EPL8995 – a section of its Erongo uranium project – was pointing to the discovery of an extensive uranium system. Trenching has exposed stacked ULG sheets, the deposit style that hosts the major uranium projects of the central Erongo region, with mineralisation identified over approximately 1.5 km of strike (and 0.6 km in width). The strike was described as being “open in both directions”. The reverse circulation drilling programme also suggests that the ULG sheets continue to at least 188 metres below surface. Assay results from the drilling are expected before the end of the month.
Blencowe Resources 6.10p £41.41m (BRES.L)
Blencowe announced that its CEO, Mike Ralston, has resigned from his position with immediate effect. This follows on from the declaration of share purchases dating back to September 2025. Operational activities and key development workstreams on the Orom-Cross graphite project in Uganda will continue under the Chief Operating Officer, Iain Wearing, and the rest of the senior management team.
Fusion Antibodies 9.75p £14.71m (FAB.L)
Fusion is a Belfast-based business, which specialises in pre-clinical antibody discovery/supply for therapeutic drug and diagnostic applications. Results for the year to 31 March 2026 were released this morning and they revealed that revenue had increased year-on year (YoY) by +6.6% to £2.1m. Gross margins also increased from 22% to 53%, but an increase in R&D expenditure pushed administrative costs up by +46.6% YoY, and the Company reported an operating loss of -£1.13m.
Hardide 90.5p £68.96m (HDD.L)
The provider of advanced surface coating technology announced that a North American Energy Sector customer has placed its first production orders for a newly developed second-generation design of components. These new orders will be completed alongside previously announced first-generation design orders. As FY27 progresses, the second-generation components are expected to become the bulk of parts processed for this customer, with further orders expected in due course. Hardide’s financial year ends 30 September 2026. In July, it advised that results would be materially above previous expectations. This was attributed to strong momentum in the business, operational efficiencies, and the effective management of input cost inflation. To support additional anticipated growth (including in new end use sectors such as semi-conductors), the Board has approved capital investment in three new coating reactors and associated infrastructure at a total cost of £4.5m. These are expected to become operational in the latter part of the 2027 financial year.
Harvest Minerals Limited 0.30p £1.36m (HMI.L)
Harvest, which has a portfolio of prospective rare earth element projects across Brazil, has entered into a technical-scientific cooperation agreement with Serviço Geológico do Brasil, the country’s leading geoscience institution, to research the potential for strategic/critical mineral commodities. Harvest suggested that the partnership provides “institutional validation” by the federal geological agency of its exploration targets and its rare earth element mineralisation model results already reported across Harvest’s licences include total rare earth oxide grades of up to 5,662 ppm (parts per million) and mineralised intercepts of up to 17 metres. The joint programme will run for 24-months, and it stems from Brazil’s own identification of critical and strategic minerals, including rare earth elements, as an important national priority.
Keras Resources 1.80p £1.76m (KRS.L)
Keras has announced a proposed strategic repositioning and its FY results for 31 December 2025. The main elements are the sale of its interest in the Diamond Creek phosphate mine in Utah; and the acquisition of an initial 51% interest in Cornerstone Mining, the holder of a portfolio of highly prospective copper exploration and development assets covering an area of 6,214 Ha in the Kaoko Copper Belt in Namibia. This is being augmented by changes to the board, a conditional fund raise of up to £1.8m at 2p per share, and an intention to change the name to Okopa plc. The Cornerstone deal also gives them an option to increase the Company's interest in the Namibian acreage to 70%. The Utah disposal is expected to result in an aggregate consideration of c.£1.66m (US$1m in cash and the cancellation of approximately £923,409 of convertible loan note indebtedness owed by Keras). In addition, Keras will retain an uncapped US$10 per long ton royalty over qualifying future Diamond Creek phosphate production. Upon completion of the transactions and the fundraise, Keras expects to be substantially debt free, with c.£1.83m cash in the bank, and with cash generative income streams derived from royalty agreements (from the phosphate project in Utah and a previously divested manganese business).
Panther Metals 152.50p £17.26m (PALM.L) *
Panther, the exploration Company focused on mineral projects in Canada, announced preliminary findings from the Phase 1 Diamond Drilling programme that it is conducting at its ‘Wishbone’ volcanogenic hosted massive sulphide (VMS) prospect in the Obonga Greenstone Belt of Ontario, Canada. Portable x-ray fluorescence (pXRF) spectrometer readings from the three holes drilled to date have enabled Panther to identify good levels of copper mineralisation. Considering the preliminary findings, Panther has agreed a further extension of a previously announced sale and purchase agreement on the Obonga project to facilitate drill permit renewals. In line with the Exploration Permit conditions, drilling activities have paused to accommodate the autumn hunting season and will resume this winter. In consideration for the licence extension, Panther has issued share options to subscribe for 25,000 ordinary shares at an exercise price of £1.70 over a three-year term expiring 31 August 2029. Share options issued under the original 2021 sale and purchase agreement expired without exercise on 26 July 2026.
Talisman Metals 7.25p £4.99m (TLM.L)
Talisman released an update on its ongoing drill program at Tirzzit, in Morocco’s Atlas Mountains, because it had identified visible malachite (a copper-bearing mineral) in some of the reverse circulation drill holes that it embarked upon at the start of the month. The Company plans to send the first batch of samples for assay analysis in the next week, with results available within four to six weeks from then. The Tirzzit Project is located 225km east of the city of Agadir, and it consists of two mining licenses covering a surface area of 16.5 square kilometres. Talisman acquired their interest from a Toronto-listed business called Aya Silver & Gold Inc, also a 4.7% shareholder in Talisman.
Tribal Group 81.00p £143.63m (TRB.L)
The supplier of software and services to the international education market announced after the close of trading on Friday that it has received a cash offer from Main Capital Partners, a private equity firm that specialises in software investing. This offer values the Group at approximately £189.3m. This follows on from the rejection of an earlier, highly conditional, and non-binding potential offer, which was received from SilverTree Equity Partners. In the year to 31 December 2025, Tribal generated Ebitda of £17.5m from revenue of £92.5m. Main Capital Partners has received irrevocable undertakings over 44.2% of the issued share capital.
What’s baking in the oven?
Potential IPOs:***
5th August: 1947 Oil & Gas, the newly incorporated oil and gas production Company focused on acquiring, operating and growing a portfolio of producing assets in the US, announced its intention to IPO onto AIM. In connection with Admission, the Company has entered into a conditional agreement to acquire Renaissance Offshore, LLC, a privately held, Houston-based oil and gas production Company with interests in eleven fields located in the shallow-water Gulf of America. The Company is raising an updated amount of £40m and the expected market capitalisation of the Company on Admission will be £70m. Admission is expected to occur in mid-September, updated from an expected date of in August.
Dual List:***
18th August: Aimia Inc. (TSX: AIM; JSE: AII) the Canadian diversified conglomerate announced plans to dual list on AIM. It owns a selection of businesses which include: (i) an 100% interest in Cortland International Inc., a global designer, manufacturer and supplier of synthetic fiber ropes, nets, slings and tethers; a 10.85% indirect stake in Clear Media Limited, the largest operator of bus shelter advertising panels in China; and iii) the Company holds a portfolio of publicly listed securities amounting C$12m as of 30 June 2026. No capital is expected to be raised on Admission and deal details remain TBC. Expected first day of dealings 9th September.
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