Bradda Head Lithium (LON: BHL) has secured a key drilling permit for the Whitejacket lithium project in Arizona. A drilling programme will meet earn-in commitments and go towards a mineral resource estimate. The share price jumped 40.4% to 4p.
Tern (LON: TERN) invested £48,000 in cash and converted £87,000 owed into £270,000 of unsecured convertible loan notes in Talking Medicines. They have a 10% interest rate and if conversion is triggered the share price will be at a 20% discount to a fundraising or exit price. If not triggered, then the convertibles mature on 21 November 2029. The Tern share price gained 27.8% to 1.15p.
Kazera Global (LON: KZG) subsidiary Whale Head Minerals has entered a production sharing agreement with minerals processor Rare Earth Minerals International (REMI) for the Walviskop heavy mineral sands. Taking effect form the 1 June and lasting 12 months, REMI will deploy processing plant valued at £1m and receive 50% of revenues. It will also contribute £27,000/month to project costs. Production should ramp up to 10,000 tonnes of processed heavy minerals sands/month by the end of September. The share price increased 14.6% to 1.175p.
Ariana Resources (LON: AAU) has updates its pre-feasibility study for the Dokwe gold project in Zimbabwe. The post-tax NPV10 is $740m at a gold price of $4,250/ounce. There was a 42% increase in ore reserves to 1.13Moz. Total pre-production capex is estimated at $163.9m. The share price rose 9.46% to 2.025p.
FALLERS
Sound Energy (LON: SOU) is selling its development assets in Morocco for $57m in cash and relinquishing nearby exploration assets. This will leave the company with $11m in cash after debt repayment. There are also solar and hydrogen joint ventures. Annual overheads are $2.9m. New oil and gas assets outside Morocco are being considered. The share price slumped 41.5% to 2.75p.
Union Jack Oil (LON: UJO) reports net production of 0.16m barrels of oil equivalent/day in 2025 and that generated revenues of £2.5m. Cash was £1.6m at the end of 2025. In 2026, revenues are forecast at £3.1m, and net cash is expected to be £1.3m at the year end. Total risked NAV estimate is 35p/share. The share price dipped 17.9% to 3.9p.
Pharma industry technology and data provider Diaceutics (LON: DXRX) had annualised recurring revenues of £20m at the end of 2025. Reported revenues rose by one-fifth to £38.4m and the business returned to profit even after redundancy and acquisition costs of £798,000. The largest customer accounted for 18% of revenues. The order book grew 56% to £38.9m, with £21.1m of visibility for the next 12 months, up from £17.7m last year. Constant currency revenues growth was 15% in the first quarter. The share price declined 10.8% to 148.5p.
Sancus Lending (LON: LEND) says revenues were 44% ahead at £8.5m in the four months to April 2026. New loan facilities written were £42.9m. Assets under management are £326.8m. The current global background has led to slower than expected deployment of capital and the lack of income on cash balances has hit profit, which is below expectations. The company has issued £500,000 of bonds to Somerston Fintech, a subsidiary of the majority shareholder, to provide working capital. The share price fell 8% to 1.15p.