Bezant Resources (LON: BZT) published a new mineral resource estimate for the Hope and Gorob project, where it has a 70% interest. There is a sevenfold increase in open pittable mineral resource. Measured resource is 1.1Mt, while indicated is 0.5Mt and inferred is 1.4Mt. The life of the open pit mine has been extended to 7.5 years. There is significant mineralisation outside of the area of the current mineral resource estimate. More than five years could be added to mine life. The share price rose 18.5% to 0.08p.
Solid State (LON: SOLI) says fourth quarter trading was ahead of expectations, and the order book is worth £106.5m. There was a recovery in the components business and trading improved in the power division, due to strong drone demand from defence customers. The integrated systems business is building up revenues. Zeus has raised its forecast revenues by 5% to £152.2m and pre-tax profit by 9% to £7.9m, a sharp recovery from £5m last year. The share price increased 14.7% to 160p.
Greatland Resources (LON: GGP) says full year gold production could be slightly better than guidance of 260,000-310,000 ounces. In the third quarter 82,723 ounces of gold and 4,128 tonnes of copper were produced. That takes nine month production to 249,887 ounces of gold and 11,022 tonnes of copper. There was $1.21bn in cash in the bank at the end of March 2026. A recovery in the gold price following the Middle East ceasefire will help income. The share price jumped 15.1% to 767.25p, which is the highest it has ever been.
Alien Metals (LON: UFO) says joint venture partner GreenTech Minerals has identified material upside potential for the Munni Munni Platinum-Palladium-Copper-Nickel project in Western Australia not included in the current mineral resource estimate of 24Mt @ 2.9 g/t PGE₄ for 2.2Moz. Alien Metals has a 30% interest and a free carry until completion of a bankable feasibility study. High grade zones have been identified and there is potential for open pit mining. The results of the maiden drilling programme should be announced later this month. Joint venture partner West Coast Silver has announced a 1,500 metre drilling programme for the Elizabeth Hill silver project in Western Australia. The share price rebounded 14.3% to 0.12p.
FALLERS
Trellus Health (LON: TRLS) has issued 48.7 million shares following the conversion of £50,000 of secured convertible loan notes. That is just over 15% of the enlarged share capital of the developer of Trellus Elevate, which provides analysis of the management of chronic conditions. The share price slipped 30% to 0.175p.
A 14% decline in the Brent oil price to just over $94/barrel has hit AIM oil and gas producers and explorers. North Sea-focused Serica Energy (LON: SQZ) dived 14.9% to 248.3p, Falcon Oil & Gas (LON: FOG) dipped 14.8% to 16.4p, Arrow Exploration (LON: AXL) declined 11.1% to 20p and Pantheon Resources (LON: PANR) fell 10.3% to 11.12p.
Sunda Energy (LON: SNDA) subsidiary SundaGas Banda Unipessoal has entered a letter of intent with Finder TIMOR-LESTE B.V. to secure a drilling rig for campaigns offshore Democratic Republic of Timor-Leste. SundaGas plans to drill the Chuditch-2 appraisal well on the TL-SO-19-16 Production Sharing Contract. Sunda Energy is also diversifying its interests by acquiring New Zealand based Matahio Energy NZ, which owns production and exploration permits onshore of the Taranaki Basin on the west coast of New Zealand’s North Island. The assets produce 1,000 barrels of oil equivalent/day. The purchase price will be between $8m and $14m depending on the oil price and there is contingent consideration of up to $13m based on the outcome of exploration. A subscription will raise £900,000 at 0.02975p, while directors will contribute a further £800,000 through loan conversion and subscription. Convertible loan notes could raise up to £4.25m. A WRAP retail offer can raise up to £750,000. Hannam and Partners estimates a risked NAV of 0.18p/share. The share price is 9.2% lower at 0.0325p.