Jangada Mines (LON: JAN) has secured an option to acquire 100% of the Molly gold project in Tapajos Brazil. Once the agreement is signed there will be a cash payment of $100,000 and shares issued worth $250,000. There will be a further cash and shares payment of $650,000 after one year plus resource-based payments. The initial JORC inferred resource is 130,000 ounces of gold but gold mineralisation is more extensive than the past drilling indicates. The share price increased 17.2% to 1.7p.
Cosmetics supplier Warpaint London (LON: W7L) has acquired the Barry M brand from the administrator for £1.4m, but 2025 figures will be just below expectations. Cavendish has cut its 2025 pre-tax profit forecast from £20.7m to £19.2m, although the 2026 figure is maintained at £26m. Net cash was better than expected at £16m. Barry M is a value cosmetics brand and had revenues of £15m. It is likely to be loss making. The share price recovered 8.75% to 217.5p.
Pathos Communications (LON: NEWS) has entered a partnership with Flippa.com, a marketplace for buying and selling online businesses. This will allow the latter’s 1.6 million registered users to become a client of Pathos Communications’ PR services. This is part of an invitation-only Flippa partner programme. The share price is 7.84% higher at 27.5p. The December placing price was 30p.
More positive new for Fulcrum Metals (LON: FMET) concerning gold and other product recoveries at the Teck Hughes tailings project. Gold recovery has been increased to 78% with up to 95% silver recoveries. There are also high recovery rates for tellurium and copper and 20% recoveries of gallium – that could be improved. There is a potential recoverable value of more than $550m of all these metals. Further testing will be undertaken. The share price rose 5.71% to 9.25p, which is near to its high for the year.
Power Metal Resources (LON: POW) says drilling will start at the Badger Lake uranium property in Canada on 1 March. The joint venture will undertake 2,100 metres of drilling testing two shear zones and the S-Zone, which differs from most unconformity-related uranium targets in the Athabasca Basin. The share price improved 3.13% to 16.5p.
FALLERS
Phoenix Copper (LON: PXC) has suspended chief executive Marcus Edwards-Jones and finance director Richard Wilkins due to their recent conduct and past payments. A n investigation is underway. The company has limited cash available, and it will last until the second quarter of 2026. The share price slumped 47.5% to 1.05p, having been below 1p earlier in the day.
ADM Energy (LON: ADME) returned from suspension down 36.4% to 0.0035p after annual accounts and subsequent interims were published. There was £1,000 in cash at the end of 2025. The company’s name is being changed to Vega Energy.
Cora Gold (LON: CORA) is raising £12.9m-£13.7m through a subscription by Singapore-based Eagle Eye Asset Holdings at 6p/share. There will be a retail offer to raise up to £2m. Eagle Eye’s investment will depend on the take up of the retail offer, so that it does not go above 29.9%. The definitive feasibility study for the company’s Sanankoro project in south Mali indicated a NPV8% of $221m, but that was at a gold price of $2,750/ounce. The money raised covers nearly 50% of the cash required to construct the mine. The share price fell 18.6% to 8.75p.