TRADING UPDATES: Gore Street declares 7 pence annual dividend
The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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PYX Resources Ltd - Indonesia-focused zircon and mineral sands producer - National Stock Exchange of Australia places all PYX securities under an immediate trading halt after it has yet to publish its 2025 financial report. Securities will be reinstated once PYX satisfied relevant obligations under NSX listing rules.
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First Development Resources PLC - explorer for critical minerals and rare-earth elements in Western Australia and Northern Territory - Provides operational update for its Selta Project in the Aileron Province of Australia’s Northern Territory. Says GAIP geophysical survey at the Lander West gold target is around 50% complete. Fieldwork is expected to resume in early April following a weather-related suspension in Central Australia. Interpretation of the survey data, along with aeromagnetic, radiometric, and geochemical data, is underway. ‘Early results are already guiding design and prioritisation of future air core drilling and reverse circulation drilling programmes at Lander West,’ the company says. Further, a ruling on the mining permit applied for in February is expected in the second quarter of 2026. First Development is also pursuing co-funding from the Northern Territory Government to offset exploration costs. Finally, it says a UAV magnetic geophysics survey is scheduled for May over the Hawkshead lithium-REE target to identify pegmatite structures. REE exploration at West Nintabrinna and Ingallan is ongoing, with fieldwork planned for the third quarter of 2026. ‘Our disciplined, data-driven approach ensures we maximise discovery potential while delivering cost-effective, results-focused exploration,’ says Chief Executive Officer Tristan Pottas.
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Light Science Technologies Holdings PLC - Derbyshire, England-based provider of lighting, science and plant monitoring solutions - Retail offer conditionally raises £600,000 before expenses through the issuance of 60.0 million shares at 1 pence each. The offer is separate from but conditional upon completion of the placing announced last week and shareholders’ approval at the general meeting on April 9.
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BSF Enterprise PLC - London-based biotech company - Wholly-owned subsidiary Lab-Grown Leather Ltd successfully tans scaffold-free, cultivated skin in A4-sized sheets. The firm says this is a ‘critical step’ toward large-scale commercialisation of sustainable luxury and ultra-luxury materials in a ‘first-of-its-kind’ process. Says this process completes the tanning without the use of heavy metals like chromium, and that professional tanners say the material is comparable to traditional leather. ‘The successful tanning of A4-sized sheets in the UK is the ’proof of concept’ the industry has been waiting for. We have shown that we can preserve the soul of leather-the smell, the feel, the durability-while removing the ethical and environmental baggage,’ says Chief Executive Officer Che Connon.
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Gore Street Energy Storage Fund PLC - invests in utility-scale battery energy storage systems - Updates strategy and capital allocation plan. Commits to annual dividend of seven pence, to be paid in quarterly instalments of 1.75p. This will be funded through a combination of operating cash flows and selective asset sales. Further, German asset Cremzow is attracting ‘strong initial interest’. Says capital realised from the sell of its operational and pre-construction assets will go towards the distributions, with a portial to enable capital recycling into ‘selective accretive investments.’ The strategy is expected to generate proceeds of £25 million in financial 2027 and £75 million in both financial 2028 and 2029. Additionally, may form JVs to develop its pre-construction pipeline or fund augmentation capex. Following a series of cost reduction measures last year, removes the exit fee of 2% of NAV from the commercial management agreement. Determines that the incumbent manager, Gore Street Investment Management, is ‘currently best placed to implement the new strategy.’ Plans to announced net asset value for the three months to December later this week. Expects an internal rate of return of 15%, with capacity of 100 megawatt hours in financial 2027 and 2028, rising to 150 megawatt hours in financial 2029.
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Talisman Metals PLC - copper exploration company in Morocco, formerly Ovoca Bio PLC - Provides update on its preliminary programme at the Fougnar Copper-Silver Project. Successfully completes stream sediment sampling work, and 76% completes its Ground Transient Electromagnetics planned grid. Additionally, digs two trenches were dug which have visible copper mineralisation shows within the channel sampling. Talisma is finishing a ‘modest’ reverse circulation scout drilling programme that includes two drillholes on each of the two licenses of the project. CEO Tim McCutcheon says: ‘We are close to the completion of initial field work at Fougnar. We now move to having samples analysed and geophysical data processed in order to determine priority targets for further study and general project evaluation. Each step of the exploration programme dramatically increases our understanding of Fougnar, and we look forward to reporting further progress in the coming weeks and months.’
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New Frontier Minerals Ltd - Australia-focused critical minerals explorer - Provides update on core projects. Says its mining lease application at the Big One Copper Deposit at the North-West Queensland Copper Project receives technical assessment approval, ‘marking a pivotal step toward potential near-term copper production utilising Austral Resources’ Mt Kelly Processing Facility.’ Further, plans to accelerate activities at the 100% project in parallel with its diversi?ed rare earth strategy. Says a ‘strengthening macro backdrop highlights the strategic importance’ of the NWQ Copper Project, positioning it ‘to benefit from growing global demand for new copper supply.’ At the Harts Range Project, continues to assess tungsten potential and prioritise the remaining 40 untested heavy rare earth geophysical targets. Additionally, plans to undertake low-cost metallurgical test work on the Pomme REE-Niobium project’s diamond core. This will incorporate both conventional processing pathways and tailored testing with Metallium’s proprietary Flash Joule Heating technology. Says it has a strong working capital position, with approximately A$2.62 million as of December 31. Expects additional funds from the round 18 green?elds drilling grant and R&D rebate application activities.
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Blencowe Resources PLC - developing Orom-Cross graphite project in Uganda - Updates on the first set of assay results from shallow drilling at the Beehive deposit at Orom-Cross. Completes 110 shallow drill holes at Beehive to test the continuity, thickness and near-surface extent of graphite mineralisation across the deposit. Of the initial 35 holes, notes thick near-surface mineralisation with multiple holes delivering plus 30 metre intercepts from surface. Blencowe says this supports ‘bulk-mineable near-surface potential near to planned processing facilities.’ Also notes high-grade frequency with 15 holes averaging greater than 6.0% total graphitic carbon and 18 holes averaging greater than 5.0% TGC over the entire hole. Specific highlights include: BHDD-L209, which records 30.09 metres at 10.78% TGC from surface and BHDD-L207, which records 31.4 metres at 9.46% TGC from surface. Comments: ‘These initial Beehive results support the interpretation of a substantial new deposit with a thick graphite system at shallow depths, while previously reported deep drilling has demonstrated that mineralisation can continue to over 100 metres depth. The shallow holes are therefore helping define near-surface tonnage, with deeper drilling indicating clear vertical upside.’
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