TRADING UPDATES: London BTC says antimony found at Black Star
The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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First Development Resources PLC - explorer for critical minerals and rare-earth elements in Western Australia and Northern Territory - Commences its priority soil-sampling programme across Red Handed, Red Hackle and part of the Giles target area at Lander West in the Northern Territory. Says soil sampling is underway with approximately 620 Priority 1 field stations planned, and that the programme will build on historical surface sampling and help assess the wider gold targets. Will assess soil assays alongside geology and geophysics to guide future exploration across the target areas. Says eight reverse circulation drill holes totalling 1,593 metres have been completed, in a "milestone" for stage 1 drilling, and that these have confirmed Red Handed's gold mineralisation, with the strongest gold response in sulphide-bearing dolerite. Adds that preparations are underway for stage 2 drilling to follow up on "the most prospective areas" observed in stage 1. "The aim will be to identify areas of higher gold grade and greater mineralised thickness, and to test whether the mineralisation is continuous," comments Chief Executive Officer Tristan Pottas. "These separate programmes provide a clear sequence of fieldwork and results as exploration advances."
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Bluebird Mining Ventures Ltd - gold streaming, mining and treasury company based in the British Virgin Islands - Issues an operational update for September. Says it will no longer publish standalone monthly net asset value updates, as it is now generating operating revenue and plans to focus reporting "on revenue growth, recurring revenues, operating performance and the development of the underlying businesses, rather than monthly movements in treasury value." Says that in its Energy Harvesting business, it is applying its bitcoin transaction experience "more broadly, including to commercial models where flexible compute can be deployed against available energy and infrastructure," adding: "Bitcoin mining represents one application of this model rather than its limit. During September, the company continued to develop and test capital-light and, where achievable, zero-capex structures with prospective customers and counterparties across a broader range of energy and compute opportunities." As for the Metal Harvesting business, Bluebird says the Santa Teresa Gold Project in Mexico continues to progress following payment of the £75,000 option consideration. "October will see us publish the strategy, products and technical work supporting these businesses," says CEO Sath Ganesarajah.
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Neo Energy Metals PLC - developer of uranium and gold projects in South Africa - Releases an update for the three months ended September 30. Says it is preparing its Section 11 application for its planned acquisition of the New Beisa Uranium/Gold Project mining right from Sibanye Stillwater Ltd, and will lodge it once Sibanye is granted Section 102 consent, which is the latter's only outstanding regulatory hurdle. Section 102 relates to the separation of the New Beisa Node from the remainder of the Sibanye Stillwater Beatrix mining operation. Neo Energy notes the "timely approval" of mining rights for New Beisa Node and for the Henkries Uranium Project, and that New Beisa "now has its first complete, optimisation-driven stope inventory...as mine design nears completion." At the Henkries Node, meanwhile, "a zero cut-off grade design review has firmed up the mineralised footprint, and updated designs at 200 and 400 parts per million U3O8 are under way." Company also notes the appointment, announced last month, of Elmarie Maritz as chief financial officer. Former acting CFO Martin Westerman is now in the newly-created role of group head of operations & project delivery, focused on executing the New Beisa and Henkries mining and project development strategies. Neo adds that the timeline to first production at New Beisa will be adjusted to the second quarter of 2028 so the remaining implementation assessment work can be completed after it gains Section 11 consent.
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Tower Resources PLC - Africa-focused oil and gas company - Says its subsidiary, Tower Resources Cameroon SA, has received formal documentation from Cameroon's Ministry of Mines, Industry & Technological Development regarding the one-year extension of the initial exploration period for its Thali license until October 2, 2027. Company now anticipates formal approval of the extension, and to subsequently complete its previously announced farm-out of a 42.5% interest in the Thali license to Prime Global Energies Ltd. Says it "cannot be specific about timing, [but] hopes that these steps will be completed shortly." TRCSA's next priority is concluding a rig contract to drill the NJOM-3 well on the Njonji structure within the Thali block. Tower says the subsidiary is targeting a spud date in the second quarter of 2027, "in parallel with the completion of the farm-out." If results from NJOM-3 confirm its expectations, Tower says TRCSA intends to suspend it and return in 2028 to drill further production wells, thereby starting production through a mobile oil production unit at multiple wells simultaneously.
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Fulcrum Metals PLC - mineral explorer in Canada - Secures the site for its multi-project pilot facility in Mississauga, Ontario, and signs a pilot-scale demonstration agreement with Extrakt Process Solutions LLC and Test Design Implement Solutions LLC. Says that "these major milestones secure the site, technology and delivery framework for Fulcrum's funded pilot facility and initial Teck-Hughes programme." Notes that "successful pilot testing at Teck-Hughes is a key condition of [its] proposed USD20 million gold royalty financing with Chancery Royalty Ltd," which provides "a potential non-dilutive pathway towards commercial development." Says the pilot site's 12,526 square feet facility provides space and flexibility to modify and expand operations, and that it will have a capacity of up to 2.4 tonnes per day, processing batches of approximately 600 kilograms. Has an initial six-year lease and targets commissioning by the end of the fourth quarter. The demonstration agreement allows TDI to deploy and operate Extrakt's proprietary cyanide-free technology at Fulcrum's facility, with a "multi-project development accelerator" moving Extrakt projects from laboratory testing to commercial development decisions without project-specific pilot builds. Fulcrum says its exclusive Extrakt deployment areas cover over 70 documented tailings sites, starting with the Teck-Hughes and Sylvanite mine-waste projects, and expects "partner-led opportunities [to provide] an additional route to scale".
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Connecting Excellence Group PLC - Leeds-based international executive recruitment with bitcoin treasury policy - Completes its takeover of James Gray Recruitment Ltd and James Gray Engineering Ltd, marking "its first recruitment business acquisition, an important step in the execution of its decentralised acquisition strategy." Says James Gray is a profitable, growing business, noting that in financial 2026 it generated revenue of £1.8 million, up 22%. Notes a net cash outflow of approximately £150,000 on completion, excluding bitcoin. Says the remaining consideration is deferred and linked to earnings before interest, tax, depreciation and amortisation delivery in calendar 2027 to 2029. The initial consideration is £575,000, of which approximately £425,000 has been set off against amounts owed to the target companies by their shareholders, and another £60,000 is due in 2028. Consideration also includes £531,223, which Connecting Excellence says reflects the market value of the 8.216 BTC held by the targets. Also on Monday, the company says has issued 800,000 new shares at 2.22 pence each under its accelerated placing agreement with Allenby Capital Ltd, raising £17,760 in gross proceeds. Says it will deploy the net proceeds "in line with [its] strategy, including its bitcoin treasury, acquisition and hiring strategies." "The APA has been available to us since our admission in December 2025, and this is the first time we have used it, because liquidity in our shares now allows us to meet demand in a measured way, at or above the previous day's closing price," says CEO Scott Ellam.
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London BTC Co Ltd - bitcoin miner with operations in the US and Canada - Announces the return of initial results, from on-site analysis for antimony and copper, from its latest exploration programme at the Black Star Gold - Critical Minerals Project in Pershing County, Nevada. Says maiden exploration is complete at Black Star, with 69 rock chip samples collected along the 2.5 kilometre corridor between the Western and Eastern targets. Says antimony has been identified, with readings of up to 0.44% at the Eastern Target. Highlights a copper-antimony-bismuth-silver association with copper readings of up to 30.0%, bismuth up to 0.73% and silver readings up to 811 ppm. Says this multi-element signature closely resembles the historical 1985 sample located 120 metres south of the claims. Adds that samples have been submitted for gold and silver testing, with "full multi-element geochemistry" testing to follow, including for antimony, tungsten and copper. "Black Star was staked for its high-grade gold, and our first field readings have now identified antimony within our own claims, not just at the historical sample site next door...the potential for a Nevada gold-silver project which may also carry an antimony credit makes the project an attractive proposition for the company, subject to further lab testing," comments Chair David Lenigas.
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Quantum Data Energy PLC - London-based energy company - Says construction is substantially complete on its Bordesley 5 megawatt flexible generation power project. Bordesley has also achieved grid energisation and G99 grid compliance, and entered its final commissioning phase, remaining on schedule and within budget. Quantum still expects commercial operations to start during the fourth quarter. Project has therefore met its 'substantial completion milestone' deadline under its capacity market agreement, which covers the delivery years up to and including 2039/2040. Notes that G99 compliance confirms Bordesley's compliance with the Distribution Code and its technical eligibility to export to the grid. Says both Caterpillar G3520K gensets have been delivered to site and installed, that electrical installation is complete, and all gas installation works are complete, while civil works are substantially complete. The final stoning-up and perimeter fencing are due for completion in early October.
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Pulsar Helium Inc - White Rock, Canada-based resource company targeting helium in the US and Greenland - Says its subsidiary Pulsar Helium (MI) Inc has signed a contract with Xcalibur MPH to undertake a high-resolution airborne gravity gradiometry and magnetic survey at its Falcon project in Michigan's Upper Peninsula. Survey will test "whether the ancient Precambrian basement geology and structural architecture that underpin Pulsar's exploration model at the company's Topaz helium project in Minnesota...extend into Michigan." Pulsar intends to "identify and rank the most compelling features within this vast land position," so it can "focus follow-up exploration and future drilling where the geological evidence is strongest." Expects the survey to start midway through the fourth quarter. "Signing this airborne survey contract marks an important step in advancing Falcon from district-scale land assembly into systematic target generation," says CEO Thomas Abraham-James.
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Smarter Web Co PLC - Bristol, England-based web design and development and online marketing services provider with bitcoin treasury policy - Sells 2.9 million shares under its subscription agreement announced in December. Expects gross proceeds of £2.2 million or around 75p per share, of which it will receive approximately 98.25%. Says 38.3 million shares issued under the subscription agreement remain to be sold. Intends to use some of the net proceeds to reduce the outstanding amount under its strategic credit facility with Coinbase from approximately £19.0 million to approximately £17.0 million. Notes that the loan is still secured against its existing bitcoin holdings.
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ZCCM Investment Holdings PLC - Lusaka-based mining investor - Says its listing on the equity shares (international commercial companies secondary listing) category of the Official List and trading on the London Stock Exchange has been restored.
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Ormonde Mining PLC - Limerick, Ireland-based mineral resources group - Proposes a capital reorganisation of its existing ordinary shares, subdividing each existing ordinary share into one new ordinary share and one B deferred share. The subdivided shares will be consolidated to create new ordinary shares. Following the capital reorganisation, each shareholder will have one ordinary share and one B share for every 50 of the previous ordinary shares. Ormonde expects the reorganisation to drive an increased share price, which "will be more attractive to a greater number of investors." Shareholders will be asked to approve the reorganisation at an extraordinary general meeting on October 27.
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Maven Income & Growth VCT PLC - London-based private equity and property manager - Announces, alongside Maven Income & Growth VCT 3 PLC, Maven Income & Growth VCT 4 PLC and Maven Income & Growth VCT 5 PLC, an offer for subscription. The companies intend to raise up to £20.0 million, with the option to use over-allotment facilities of up to an additional £20.0 million. Says the offers opened on Monday and expects them to close to applications on April 5 and April 30 for the 2026/27 and 2027/28 tax years, respectively.
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