Mercantile Ports and Logistics (LON: MPL) has appointed former US government and CIA administrator Marty Martin to the board and Karanpal Singh has stepped down. The company believes that Marty Martin will help with the ongoing legal process in relation to try to regain control of the Karanja Terminal & Logistics subsidiary. Mercantile says it can repay the related debt, but the proposal was rejected by the consortium of banks. They prefer an alternative plan from Adani Ports and Special Economic Zone Limited and that has been approved by the courts. The company has appealed and a further hearing is due on 8 June. The share price jumped 176.5% to 1.175p.
Bradda Head (LON: BHL) and Tyfast Energy have signed a memorandum of understanding to develop a domestic US lithium supply chain for next-generation LVO battery anodes. Bradda Head has lithium assets in Arizona and Nevada, and he will assess feedstock and processing pathways. Tyfast will focus material qualification and performance testing. The share price rose 26.2% to 3.85p.
Orosur Mining Inc (LON: OMI) has released further positive results from drilling at Pepas West on the Anza gold project in Colombia. The rig has moved to south of Pepas and will return to Pepas West in a few weeks. The share price increased 13.3% to 21.75p.
Arrow Exploration (LON: AXL) says that the Icaco-1 vertical exploration well encountered net oil pay in three of four targeted formations. This should enable an uplift to additional reserves, and they could go into production in the near future. Flow testing will last two weeks. The share price gained 5.75% to 23p.
FALLERS
Premier African Minerals (LON: PREM) has raised £1m at 0.0185p/share. Further progress has been made with the Zulu lithium and tantalum plant. The operational performance has been encouraging in the initial commissioning stages. The share price declined 14.6% to 0.0205p.
Oil and gas explorer Enwell Energy (LON: ENW) says full year revenues fell from $44.9m to $3.3m because the Ukrainian government suspended licences. There was a swing from a net profit of $23.7m to a net loss of $4.5m. Cash is currently $92m. The current development programme will be funded from cash. The share price fell 10.9% to 12.25p.
John Samuel, former finance director of Renew (LON: RNWH) and Hargreaves Services (LON: HSP) has been appointed to the board of eEnergy (LON: EAAS). Dr Nigel Burton will leave the board after the AGM. The share price slipped 2.5% to 5.85p.
Motor dealer Vertu Motors (LON: VTU) grew full year revenues by 1.5% to £4.83bn, but pre-tax profit fell from £29.3m to £24.5m due to pressure on margins, particularly on electric vehicles. That includes £3.4m of business interruption insurance. Fleet and aftersales revenues were strong. Net debt was £61.3m at the end of February 2026. Tangible net assets are 75.9p/share. The share price dipped 0.61% to 65.1p, having been below 64p.