TRADING UPDATES: Helix acquires US acreage amid helium 'crisis'
The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Helix Exploration PLC - London-based helium exploration and development company advancing the Rudyard helium project in northern Montana - Expands strategic footprint at Rudyard to nearly 8,000 acres through the acquisition of additional State of Montana mineral leases totalling 360 acres for a ‘modest cash consideration’ at public auction. ‘The acquisition extends the company’s control over the core of the Rudyard Anticline, the structural heart of the proven helium accumulation,’ Helix says. Notes major liquid natural gas producer Qatar cuts LNG production amid conflict in the Middle East. This has ‘effectively severed the single largest node in the world’s helium supply chain’, Helix says, as helium is primarily recovered as a by-product of processing helium-bearing natural gas, often integrated with large gas processing or LNG facilities. Says US helium now carries a strategic premium that it believes will be reflected in near-term market pricing.
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Blencowe Resources PLC - developing Orom-Cross graphite project in Uganda - Completes a maiden JORC mineral resource estimate statement for the recently discovered Iyan deposit at Orom-Cross. Says the estimate has an inferred mineral resource of 16.9 metric tonnes at 6.0% total graphitic carbon. Says this confirms Iyan as ‘a high-tonnage, near-surface extension of the wider Northern Syncline graphite system. The addition of Iyan materially increases the overall Orom-Cross Mineral Resource base and further demonstrates Orom-Cross as a multi-deposit, long-life, large-scale graphite development.’ Chair Cameron Pearce comments: ‘This increased scale and the growing deposit pipeline support our ongoing strategic and funding discussions as we progress development planning. Importantly, we are not done. Mineralisation remains open along strike and at depth, and Beehive results are now coming through, which we expect to incorporate into a future JORC update.’
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New Frontier Minerals Ltd - Australia-focused critical minerals explorer - Completes first-pass scout drilling of 27 reverse circulation holes for a total of 1,803 meters at the Harts Range project in the Northern Territory, its inaugural drilling programme. Says drilling at the Bank Prospect returns ‘encouraging tungsten mineralisation’. This includes 1,237 parts per million tungsten oxide over 4 metres, with a higher-grade interval of 1 metre within epidote altered amphibolite grading 4,860 ppm tungsten trioxide from 132 metres. Says the results support the occurrence of historic high-grade rock-chip samples and confirm the presence of tungsten mineralisation within the project area, ‘highlighting the potential for additional tungsten occurrences within the broader mineralised system.’ At the Cusp prospect, surface rock-chip sampling returns tungsten oxide values ranging from 5,930 to 14,501 ppm tungsten trioxide and 9,600 to 12,700 ppm tungsten trioxide, ‘further highlighting the presence of high-grade tungsten mineralisation at surface.’ Adds: ‘These results, combined with the recent drilling intercept, support the interpretation that tungsten forms part of a broader multi-commodity mineral system at Harts Range.’ Overall, says the Harts Range project is positioned ‘favourably within this tightening global market.’ Elsewhere, NFM says the Pomme rare earth project in Quebec ‘represents a capital-efficient entry into an advanced carbonatite-hosted rare earth system’ in the province. Next steps at Pomme include the collection of representative diamond drill core samples for conventional metallurgical testing and evaluation utilising Metallium Ltd’s flash joule heating technology. ‘The planned testwork will assess the compatibility of Pomme carbonatite material with advanced beneficiation pathways and provide additional data regarding concentrate characteristics and potential processing responses,’ NFM says.
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Marwyn Acquisition Co III Ltd - Tortola, Virgin Islands-registered acquisition vehicle established by Marwn Partners - Discussions with Palmer Street Ltd regarding a potential combination have been terminated by mutual agreement. Says the near-term requirement for third-party capital is limited, given Palmer’s ‘momentum’ in making ‘significant commercial progress’ through securing a number of new client mandates. Applies to the Financial Conduct Authority for the suspension of its shares to be lifted.
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Astrid Intelligence PLC - London-based company specialising in artificial intelligence, formerly known as Cel AI PLC - Launches Astrid Vault. The solution is an on-chain platform designed to improve liquidity and stability across the Bittensor AI network. ‘...believes Astrid Vault may strengthen the company’s role as a liquidity coordination and infrastructure provider within the Bittensor ecosystem.’
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Synergia Energy Ltd - West Perth, Australia-based oil and gas company - Confirms ‘marked improvement’ from legacy wells C-64 and C-74 that were worked over in November. Combined production from the C-64 and C-74 wells averages 78 barrels of oil per day during February, with a March-to-date average of 195 bopd, after recently increasing pump rates. However, corrects that the C-77H gas well continues to produce on plateau at circa 50,000 standard cubic feet per day.
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JPEL Private Equity Ltd - Guernsey-based investment company - Net asset value per share at December 31 half-year end holds steady at $1.34. JPEL is in the processing of realising its investments. Says it will not make any new investments save for follow-ons to existing investments. The realisation strategy includes JPEL’s manager exploring the private equity secondary market for the company’s legacy fund interests as well as holding the direct investment portfolio until maturity if it believes market pricing would be more favourable than realising investments before maturity, JPEL says.
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CEPS PLC - buys majority stakes in ‘profitable and steadily growing entrepreneurial UK companies’ - Completes disposal of subsidiary ICA Group Ltd following approval by shareholders at its general meeting on March 2. In February, CEPS agreed to sell ICA to Certania Holding GmbH. The deal had an upfront and earn-out consideration but CEPS said it would ‘not participate in the earn-out payment’. The deal has a £30.5 million enterprise value based on the upfront amount. Of the £14.0 million received, CEPS will put £5.0 million towards repaying debt. ‘The remaining sale proceeds will provide the company with additional resources dedicated to advancing the strategic business drivers that CEPS uses as the foundation for delivering sustained long-term value for shareholders,’ it said.
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Bellevue Healthcare Trust PLC - investment trust dedicated to investments in listed or quoted healthcare companies - Acquires 29.9 million ordinary redeemable shares of 1.00 pence each pursuant to its tender offer launched on February 12. All repurchased shares are to be held in treasury. Expects to pay the tender offer consideration to shareholders by March 20.
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Boston International Holdings PLC - London-based holding company was originally formed to acquire an investment in the foreign exchange sector - Issues update regarding 60% shareholder Zarara Energy Ltd, which has provided Boston International with bridge loan facility of up to £248,375 to assist with working capital requirements. In December Zarara informed Boston International that it had not been able to meet its commitments under the loan facility due to short term liquidity issues arising from an earlier $1.5 million loan which ZEL made to an acquisition target. ZEL says it is ‘confident’ the loan will be ‘sufficiently recovered’ by March 31 to enable full funding under the loan facility provided to Boston International. Additionally, ZEL agrees to increase the total amount available under the loan facility by £145,250 to £393,625 to cover certain specified additional corporate and regulatory costs due in the first six months of 2026 and to extend the repayment date to December 31 from June 30. Boston International has drawn down around £44,230 under the additional loan facility. Further, ZEL says it will be able to recommence further drawdowns under the increased facility shortly.
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ZCCM Investment Holdings PLC - Lusaka-based mining investor - Chief Financial Officer Chilandu Sakala steps down. ‘The board expresses its sincere appreciation to Mrs Sakala for her contribution to ZCCM-IH during her tenure and wishes her every success in her future endeavours,’ ZCCM says. Chitalu Kabwe, finance manager - reporting will serve as acting CFO until further notice.
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