* 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.
Admissions:
None
Delistings:
Treatt (TET.L) left the Main Market on Friday 3 July
What’s baking in the oven?
It's a little empty
Banquet Buffet****
London Stock Exchange: Main Market and AIM
BTG Consulting 112.00 £188.77m (BTG.L)
The financial and real estate advisory firm announced its final results for the year ended 30 April 2026. Revenue rose 10% to £168.5m, driven by 8% organic growth. Adjusted EBITDA increased 5% to £33.3m, while adjusted profit before tax rose 6% to £25.0m. The group ended the year with net debt of £1.0m following acquisitions, dividends and share buybacks. Operationally, restructuring and real estate services performed strongly, supported by high-profile insolvency appointments and the integration of property auction businesses under the BTG brand. The Company also completed its rebrand and strengthened leadership with a new CEO. A 7% dividend increase marked the ninth consecutive year of growth, and management expects further growth in 2027 despite ongoing macroeconomic uncertainty affecting transactional markets.
Conroy Gold and Natural Resources 8.00p £5.96m (CGNR.L)*
The gold exploration and development Company announced an operational and corporate update on its "Discs of Gold" project in Ireland, anchored by the Clontibret gold deposit. ThePhase I drilling programme at Clontibret has been successfully undertaken, with five holes completed and a series of strongly encouraging assay results announced. Results indicate continuity both along strike and at depth, the identification of a significant Buddingtonite alteration zone, and increasing confidence in continuity between Clontibret and the Corcaskea target. Phase II of work has commenced, with drilling underway to test the extension of the Orlock Bridge Fault from the mineralisation in the Clay Lake target south-westwards towards the Clontibret deposit. The Company is continuing to advance plans for a dual listing on the TSX-Venture Exchange.
Goldstone Resources Limited 0.73p £7.29m
The gold producer and exploration Company focused on Ghana announced that it has entered into a subscription agreement with Persistence Gold Group Ltd, a Hong Kong-listed mining and investment company (HKEX:2489), pursuant to which Persistence has agreed to subscribe for 351,594,899 new ordinary shares at a price of 1.0 pence per Subscription Share. The Subscription will raise gross proceeds of £3.51m for the Company. The Board believes that the expanded drilling programme has the potential to materially enhance the long-term value of the Homase Project and support future mine development opportunities.
Knights Group Holdings Inc 195.00p £161.62m (KGH.L)
The national legal and professional services business announced its full year results for the year ended 30 April 2026. Underlying revenue increased 28% to £207.7m (FY25: £162.0m), underlying PBT up 19% to £33.2m (FY25: £28.0m) and cash conversion of 163% (FY25:130%). Net debt was
maintained at £65.4m (FY25: £64.8m) after c.£17m of acquisition related payments and Net debt / EBITDA banking covenant ratio was 1.5x (30 April 2025: 1.6x). A final dividend of 3.69p was declared, giving a 17% increase in the total dividend for the year to 5.63p (FY25: 4.81p). The Company reported a positive start to the year; look forward to delivering organic growth, complemented by value-enhancing acquisitions.
Oriole Resources 0.39p £18.12m (ORR.L)
The AIM quoted gold exploration and development Company focused on Central and West Africa announced that is has signed a joint venture agreement with its project partner AGEM Senegal Exploration Suarl, a wholly owned subsidiary of Managem Group, in relation to the Senala orogenic gold project in eastern Senegal. Completion of the JV Agreement replaces the former Option Agreement under which AGEM earned an approximate 59% beneficial interest in the Project by spending US$5.8m on exploration. AGEM is to introduce US$212k of working capital into a new joint venture company (JVCo) to take its ownership to 60%. An estimated US$2m work programme is expected to commence in August 2026, which will include a planned 3,000m diamond drilling programme at the main Fare prospect and 10,000m of auger drilling at the Baytilaye and Konkonou targets, located to the south/south-east. The Company is not currently planning to participate in the funding of these programmes and therefore its interest is expected to be diluted in accordance with the actual committed expenditure. A separate
announcement this morning covered the final set of results from the recently completed step-out diamond drilling programme at the MB01-S deposit at its 50% owned Mbe orogenic gold project in Cameroon. The total JORC Inferred Mineral Resource Estimate at Mbe currently stands at 1.23m oz contained gold across both the MB01-S and MB01-N deposits. An updated MRE is now being prepared and will be published later in Q3-2026.
Panther Metals 130.00p £13.87m (PALM.L)*
The exploration Company focused on mineral projects in Canada announced an extension amendment to the 2021 sale and purchase agreement with Broken Rock Resources Ltd over the Obonga Project, which covers over 90% of the Obonga Greenstone Belt, in Ontario, Canada. The Amendment Agreement extends the terms of the original 2021 purchase agreement from the previous expiry date of 31 August 2026, through to 30 April 2027. The Amendment Agreement provides Panther with additional operational flexibility to advance and extend the currently ongoing Phase 1 Diamond Drilling Programme, supported by the Company's 18 June 2026 financing, without the constraints of a shortened timeline. Separately, following requests from two long-standing service providers, the Company has agreed to settle outstanding invoices through the issuance of shares.
Power Metal Resources 12.25p £13.69m (POW.L)
The exploration Company and project incubator with a global project portfolio announced a exploration update from its Molopo Farms Complex Project, where the Company is targeting a district-scale nickel and platinum group element discovery in southwestern Botswana. The Project's Prospecting Licence 311/2016 has been extended for a period of two years and is now valid until 31 March 2028. Drilling has commenced on a 1,600 m programme of core drilling targeting an initial five high interest geological and geophysical targets on the eastern feeder zone to the Molopo Farms Igneous Complex. The programme will be results driven and may be optimised as more data is acquired. Power Metal holds an 87.71% interest in Kalahari Key Mineral Exploration Pty Ltd, a Botswana private company, which holds a 100% interest in the Molopo Farms Complex Project.
AQSE Market:
Ajax Resources 5.00p £6.01m (AQSE:AJAX)
The natural resources investment Company announced that it has invested a further £200,000 in Reveille Resources PLC, a Uranium-focused natural resources investment company, whose shares are expected to admit to trading on the Aquis Growth Market with effect from 7 July, tomorrow. The Company will be issued 4,000,000 ordinary shares of 1 pence each in Reveille, at a price of 5 pence per share, conditional on Admission. This investment, together with the Company's previous investment of £200,000 announced on 30 April 2026 will result in Ajax becoming Reveille's second largest shareholder on Admission with 12,000,000 Reveille Shares, equivalent to 15.02% of the total. Ajax has entered into a 1-year lock-in from Admission for its entire shareholding in Reveille. Ajax separately announced that it has published its audited financial statements and annual report for the year to 28 February 2026.
Sulnox Group 45.00p £68.22m (AQSE:SNOX)
The greentech Company delivering lower fuel costs and emissions with zero capex announced that its customer Spring Marine Management S.A has received the Industry Partnership Leader Award - Bronze at the 2026 ESG Shipping Awards. The accolade recognised the successful collaboration between the two companies, and the environmental and operational benefits achieved through the fleet-wide deployment of Sulnox Eco.
Valereum 2.48p £13.45m (AQSE:VLRM)
The Company operating in the tokenised digital markets sector provided an update on the digital asset and liquidity infrastructure being developed with Quorium Global Photonics (QGP). QGP has advised Valereum that it has issued its VCORE+ tokens (previously VGOLD-CORE) on the XRP Ledger. The VCORE+ tokens are subject to liquidity testing, and their market value remains dependent on the completion of the operational and liquidity infrastructure. Whilst the Company acknowledges the progress made, the associated operational deliverables have not been completed within the agreed timeframe in accordance with the Definitive Agreement as previously announced on 22 April 2026. The Company reserves all of its contractual and legal rights under the Definitive Agreement.
What’s baking in the oven?
Potential IPOs:***
3 June: Reveille Resources has announced its intention to IPO onto AQSE. The strategy is focused on identifying and advancing uranium exploration opportunities in assets that have benefited from significant historical expenditure and technical work, but which may not have achieved full value realisation due to geopolitical, technological, financial, or historical factors. Reveille’s initial focus is on two historical uranium deposits in Lombardy, northern Italy. Pre-admission, Andrea Cattaneo, Ippolito Cattaneo, Ajax Resources PLC, and Zenith Energy Ltd. each hold 25% of the shares. The four pre-admission shareholders will be subject to a one-year lock-in and a subsequent one-year orderly market agreement. Expected Admission date is 7th July.
Dual List:***
Bravura Solutions (ASX: BVS) the global provider of enterprise software for the wealth management and funds administration industries has announced its intention to dual list on AIM. Bravura is currently listed on the Australian Securities Exchange (ASX) and Admission to AIM is being sought via the AIM Designated Market Route. No capital to be raised on Admission with a market cap on Admission of circa £500m. Expected Admission date is 28 July.
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