TRADING UPDATES: Ajax in exclusive talks with China buyer for Eureka
The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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CleanTech Lithium PLC - Chile-focused lithium explorer - Update on two trials being undertaken in North America and in Santiago to produce battery grade lithium carbonate from the Laguna Verde project. The trials are focused on replicating and validating the process design that has been defined in the Laguna Verde pre-feasibility study. In North America, begins stage two of the downstream processing of eluate produced by its DLE pilot plant into battery grade lithium carbonate. Eluate is a purified, lithium-rich solution produced as the output of the direct lithium extraction. This second stage will process more than 60 cubic metres of concentrated eluate. Chief Executive Officer Ignacio Mehech says: ‘We are undertaking important pilot scale process trials in North America and Chile to produce battery grade lithium carbonate from Laguna Verde brine. This work will provide strong technical support for the process flow sheet used in our PFS which we think is an important consideration for engaging with potential strategic investors.’
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Ajax Resources PLC - natural resources investment company focused on South America - Update on its potential divestment of the Eureka gold and copper project. In March, Ajax said the sale involved its entire interest in Eureka, including Mina Escondida 1 and Mina Escondida 2, while excluding La Nortena. Notes that ‘any such transaction will only proceed if it delivers a material return to the company.’ Ajax says that it is now engaged in exclusive negotiations with a single potential acquirer, a large Chinese mining exploration and production group with an established presence in Argentina. ‘Following a positive preliminary technical due diligence review, the potential buyer is expected to conduct a site visit to the Eureka project within the next ten days. Subject to the outcome of this visit, the parties intend to advance discussions toward agreeing potential binding terms,’ Ajax says.
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Valereum PLC - Manchester, England-based digital asset infrastructure firm - Updates on its definitive agreement with Quorium Global Photonics SPC. Says negotiations are well advanced and it has received part payment of the contracted $300,000 from QGP. CEO Gary Cottle says: ‘The relationship with QGP continues to be a monumental transaction for Valereum and the board is working hard to finalise the agreement. We remain very excited about the opportunities that this will present to the company.’
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Palace Capital PLC - London-based property investor - Portfolio valuation is £31.1 million at March 31, down 16% like-for-like from September 30. Palace will release interim results for the period ended March 31.
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Genedrive PLC - Manchester, England-based point-of-care pharmacogenetic testing company - Expects implementation of its CYP2C19 ID kit at Bristol NHS Trust Southmead Hospital’s Hyperacute and Acute Stroke Units to commence shortly. Funding of £80,000 for the implementation has been provided by the Medlock Charitable Trust of which David Medlock, a significant shareholder of Genedrive, is chair.
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Huddled Group PLC - Nottingham-based investor in e-commerce brands - Boop Beauty is now fully incorporated into Peeko.co.uk, new singular website for of Huddled Group. ‘The transition to the new site saw Discount Dragon rebranded to Peeko.co.uk last week, with Boop Beauty products now available on the site as of this week,’ the company says. Peeko, over the coming months, will extend its offering beyond groceries, alcohol, health and wellness and beauty to homeware and electronics.
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Mindflair PLC - investor in artificial intelligence technology - Investee company Sure Valley Ventures Fund III makes a new investment in Audrey AI, a Dublin-based startup developing an AI platform for financial auditors. Audrey has raised $1.8 million in a pre-seed funding round led by Sure Valley Ventures and Delta Partners, with participation from Enterprise Ireland, Donnchadh Casey (ex-CEO of CalypsoAI), Conor Jones (ex-chief business officer of Wayflyer), and several former auditors. ‘The funding will be used to scale the Audrey AI platform and expand its engineering and audit specialist teams as the company grows its presence across Ireland, the UK and international markets,’ Mindflair says.
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Strip Tinning Holdings PLC - Birmingham, England-based provider of connection systems to the automotive sector - Receives the serial order for the cell contacting system parts which it manufactures for the battery pack for US based Zoox Robotaxi. Additionally, the first of its major smart-glass roof connectors contracts is now in serial production on the Porsche Cayenne Electric and an Audi sport utility vehicle model. ‘The volumes will ramp up over the coming months with good indications on potential project volumes,’ company says. Further, the second major smart-glass roof connectors contract for the Mercedes CLA ‘is progressing well’, with serial production being brought forward to the second quarter from the third quarter 2026. ‘Volume indications are already strong with several thousand parts per month,’ Strip Tinning says. CEO Mark Perrins comments: ‘The start of serial production for the CCS parts for the Zoox Robotaxi battery packs is the culmination of considerable development work and significant investment by company. The original nomination was secured in June 2024 and since that time we have progressed through prototype, C and D samples to [production part approval process]. This is a major milestone in the evolution of Strip Tinning, and we are excited by the opportunity this represents for the business.’
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