Interior furnishings brands owner Sanderson Design Group (LON: SDG) says trading continued to improve in the second half, particularly in the US. Sales in the UK were lower last year. There has also been an improvement in manufacturing business, which should make a profit in the year to January 2026. Full year pre-tax profit is expected to improve from £4.4m to at least £5m. Cash is estimated to be £9.8m, which is more than one-quarter of market capitalisation. The share price rebounded 13.5% to 54.5p.
Shares in Phoenix Copper (LON: PXC) have recovered 12.2% to 1.15p, but it has still nearly halved over the past week, following the slump due to the suspension of chief executive Marcus Edwards-Jones and finance director Richard Wilkins due to their recent conduct and past payments. An investigation is underway. Cash will last until the second quarter of 2026.
Pawnbroker Ramsdens (LON: RFX) continues to benefit from gold buying related to the high price and growing retail sales. Trading is ahead of expectations, and 2025-26 pre-tax profit is expected to be more than £21m. The previous forecast was £18.6m. Up to 12 new stores will be opened this year. The share price rose 8.64% to 440p.
AFC Energy (LON: AFC) will work with Komatsu to integrate its ammonia cracking technology into its partner’s industrial internal combustion diesel engine an assess the feasibility of this project. The initial contract is worth $2m. The share price increased 11.9% to 12.55p.
European Metals Holdings (LON: EMH) says that the regional assembly has voted in favour of regional rezoning for the development of the Cinovec lithium project in Czechia. This will enable the infrastructure to be constructed. Zeus has a fair value of 88p/share. The share price improved 8.96% to 18.25p.
FALLERS
Faron Pharmaceuticals (LON: FARN) is planning to raise €40m to enable acceleration of development of its lead asset bexmarilimab and to run the Phase II portion of the FDA agreed Phase II/III trial in frontline high risk myelodysplastic syndrome. Lead asset bexmarilimab is an investigational immunotherapy designed to overcome resistance to existing cancer treatments by harnessing the power of immune cells and igniting the immune system. Management expects value inflection points in 2026 and 2027. The share price slumped 45.2% to 90.5p.
ECR Minerals (LON: ECR) has identified an initial mineable area at the Raglan alluvial gold project in Queensland. This will form phase 1 of the mining plan. There is potential to mine 938 ounces of gold with a value of A$7m, which will provide near term cash generation. The share price declined 11.6% to 0.305p.
Tekcapital (LON: TEK) is raising £1.5m at 8p/share. This will be invested in existing and new portfolio companies, particularly those involved in AI. The share price fell 16.85 to 8.65p.
Orosur Mining In (LON: OMI) has estimated a maiden mineral resource at Papas at the Anza project in Colombia. This indicates 201,000 ounces of contained gold and an additional inferred resource of 18,000 ounces of gold. The share price slipped 16.6% to 28.35p.
Zanaga Iron Ore Company (LON: ZIOC) has secured funding for its Jumelles subsidiary, which owns the Zanaga iron ore project in Congo. Red Arc Minerals is investing $25m for a 20% stake in Jumelles. This will fund the project up to final investment decision. There is then a $125m option for Red Arc Minerals to take its stake to 87.5%. Zanaga Iron Ore Company will retain a 1% net smelter royalty, and Red Arc Minerals can acquire a 0.5% net smelter royalty from the company for $50m. Zanaga Iron Ore Company has enough cash to get to final investment decision when it can decide whether to continue to invest in the project as it moves to production. Red Arc Minerals can be required to swap Jumelles shares for Zanaga Iron Ore Company shares at 15p each if it does not complete each part of the deal in a defined period. Shareholder approval is required. The share price dipped 9.52% to 7.6p.