TRADING UPDATES: Rift Helium Upepo updates; Sterling BTC mining
The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Rift Helium PLC - helium exploration and development firm - Receives an environmental impact assessment certificate covering its planned 3D seismic programme and the drilling of up to three exploration wells at the Upepo Project in Tanzania's Rukwa Basin. Chief Executive Charles FitzRoy says: "Securing an EIA that covers both our 3D seismic programme and up to three exploration wells is a particularly important milestone for Rift. It means the environmental assessment now covers the two principal stages of the exploration programme we set out at IPO: first, acquiring the data to identify the best drilling targets; and second, testing those targets through drilling. The Rift investment case remains straightforward. We are targeting primary helium rather than a hydrocarbon by-product across 283 square kilometres in Tanzania's proven Rukwa Basin, adjacent to confirmed helium discoveries. Helium is critical to some of the world's most advanced industries, from semiconductors and MRI to aerospace and emerging quantum technologies, while global supply remains concentrated and largely linked to hydrocarbon production. Successful exploration at Upepo has the potential to establish a new, strategically located source of primary helium from Tanzania." Preparatory work for Rift's 3D seismic programme is underway and "progressing well," the company says, with survey commencement planned later this year. An exploration drilling campaign is planned for the first half of 2027.
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Truetide PLC - Glasgow, Scotland-based investor in listed and unlisted companies in technology sector, formerly known as Braveheart Investment Group PLC - Updates on portfolio companies Paraytec Ltd and Gyrometric Systems Ltd. Paraytec is working on the development of the CX300 instrument to assist in the rapid diagnosis and treatment of bacteraemia, the presence of bacteria in the blood, which is found in the majority of patients with sepsis. Says in a new development, "Paraytec has investigated some small molecules that are capable of binding directly to a specific motif that is uniquely present in Gram positive bacteria. Using fluorescently tagged versions of these molecules, the team has found they sensitively and stably bind to Gram-positive but not Gram-negative bacteria in our standard laboratory test." Adds: "The Paraytec team believes that this discovery is an important progression in the translation of the test from proof-of-concept to real-world application. The next stage will be to confirm the sensitivity of detection in clinically relevant human fluids such as blood and urine." Meanwhile, Gyrometric completes the US-UK large journal bearing validation and measurement project. "The project has demonstrated that Gyrometric's patented technology can monitor the condition of large journal bearings, an application in which conventional vibration-based monitoring does not work," Truetide says, adding: "This development creates the potential for significant maintenance savings for operators and Gyrometric's monitoring equipment was installed and successfully monitored the bearing tests carried out at Kingsbury Inc, in Philadelphia, United States."
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Scottish Oriental Smaller Cos Trust PLC - aims for long-term growth from investing in smaller Asian companies - Updates on its performance-linked conditional tender offer announced in 2021. The five-year measurement period ended on August 31. Over this period, the company's net asset value total return was 28.04% compared with a total return of 48.45% for its comparator index. Says the performance condition has not been met, triggering the tender offer. The tender offer will be made at a 2% discount to formula asset value, being the net asset value attributable to the tendered shares less the costs and expenses of the tender offer, Scottish says. and will be conditional upon the approval of shareholders at a general meeting.
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Aminex PLC - Tanzania-focused oil and gas company - Says an agreement has been reached on the sequencing and implementation of the Ntorya gas development following a meeting convened by the Tanzanian Ministry of Energy. Government does not approve a proposal by the operator to extend and delay the project timetable and instead confirms a revised implementation schedule to which all parties agree. The revised implementation schedule provides for the workover of the Ntorya-1 well in October, the testing of the Ntorya-2 well in November and the drilling of a newly planned NT-Central well in December. First gas from NT-1 and NT-2 is targeted for December. Drilling of the Chikumbi-1 well is to proceed after NT-C is drilled. "The revised implementation programme establishes clear near-term operational milestones, targets first gas for December 2026 and provides for the drilling of a newly planned well, NT-Central, while ensuring that the CH-1 well is also drilled. Together, these activities form just the beginning of the development of the giant Ntorya field which is expected to deliver large volumes of gas supplies to Tanzanians, helping alleviate energy poverty, boost industrial development and fuel Tanzania's economic growth," says Chair Charles Santos.
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London BTC Co Ltd - bitcoin miner with operations in the US and Canada - Says gold and critical-minerals specialist exploration teams have mobilised to the US and commenced due diligence for the purpose of new project generation. The programme targets a pipeline of gold, silver and critical-minerals projects across Nevada, Arizona and Texas. CEO Hewie Rattray says: "With our teams now on the ground, we are entering an exciting period for our US gold, silver and critical minerals strategy. We are planning to rapidly advance our existing projects whilst simultaneously evaluating new opportunities across the US. Our objective is to keep expanding our US portfolio whilst generating a continuous pipeline of exploration results. With multiple workstreams now running in parallel, we anticipate a very active remainder of 2026. In addition to our mining and exploration expansion, the company is now also looking to bolster its Bitcoin mining fleet in the USA in the coming quarter, and a number of program evaluations are underway to best achieve this. The market will be updated when firm decisions on this are made."
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Mercantile Ports & Logistics Ltd - operator and developer of a port and logistics facility in Navi Mumbai - Update on recent hearing before the National Company Law Tribunal, Mumbai Bench, in relation to the corporate insolvency resolution process of Karanja Terminal & Logistics Private Ltd. In the hearing on August 27, says counsel representing the lenders "continued their substantive submissions before the Tribunal in response to the case previously presented by MPL." MPL's counsel has concluded its principal submissions, including presenting the detailed chronology and evidence supporting its case that "Prudent ARC Ltd intervened while KTLPL's sanctioned one time settlement remained in force and that subsequent actions resulted in the frustration and ultimate termination of the OTS process." The lenders have not concluded their submissions and will continue arguments at the next hearing on September 4. "Following the conclusion of those submissions, MPL will have the opportunity to present its rejoinder and respond to the arguments made by the opposing parties. The company remains confident in the case and evidence it has placed before the Tribunal and will continue to pursue all available legal remedies to protect the interests of the Company and its shareholders," MPL says.
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Rome Resources PLC - mineral explorer with tin project in Democratic Republic of the Congo - Reports a 45% increase in contained tin at its Kalayi deposit within the Bisie North project in the Democratic Republic of Congo. The updated inferred mineral resource stands at 460,000 tonnes grading 1.47% tin and containing around 6,800 tonnes of tin, representing a 32% increase in tonnage and a 10% improvement in grade from its October 2025 estimate. Says an area immediately southeast of the current resource could potentially double the resource with further drilling, while additional mineralised zones also offer further growth potential. Rome continues discussions with potential strategic parties on advancing and developing Bisie North. CEO Paul Barrett says: "I am delighted with Kalayi's direction of travel. This is a genuinely high-grade tin deposit, and objectively, is getting better. The numbers that matter the most are not just the 45% increase in contained tin, it is also that both tonnage and grade have increased simultaneously, from 1.33% to 1.47% Sn. In the Board's view, resource growth without grade dilution is unusual and reflects improving geological confidence. At 2026 tin prices, we believe that the margin potential of a deposit at this grade, less than 10 km from established tin ore processing infrastructure, is compelling."
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Wishbone Gold PLC - miner with projects in Western Australia - Registers a new large tenement just 10 kilometres south-east from the Havieron gold-copper mine owned by Greatland Resources Ltd. Havieron South-East covers 118 square kilometres and will take Wishbone's total tenement portfolio in the Telfer area to 628 square kilometres. "The tenement will move towards grant and become live in early 2027, once added to Wishbone's Native Title Agreement. This will make Wishbone one of the most significant tenement holders in the region with all its assets in close proximity to Telfer and Havieron," company says. Director Ed Mead comments: "To have registered this substantial tenement so close to the Havieron gold-copper mine is a major opportunity for Wishbone. The 11km strike of the magnetic feature associated with the Havieron Thrust Fault, that runs into Greatland's Havieron and Scallywag deposits provides excellent targets for drilling. In addition, the announcement on 20 July by ASX-listed Hamelin Gold which said substantial gold intersections had been found at its Day Dawn project only 10km north-west of Telfer, highlights that there is significant gold mineralisation potential still to be discovered in the general Telfer area. That is why this announcement is so important to the future prospects of Wishbone."
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Orcadian Energy PLC - oil and gas development company - Entered into a non-exclusive, joint development agreement with a US developer of offshore data centre infrastructure. "The Partner describes itself as an integrated infrastructure owner and compute operator. Its strategy is to develop the offshore compute platform, own or finance the compute hardware, and sell contracted compute capacity to customers," Orcadian says. The agreement establishes a 90-day process to enable due diligence, commercial validation and negotiation of a definitive Earlham and Orwell energy-to-compute transaction. Neither party is obliged to sign, finance or complete the definitive transaction, unless and until separate definitive agreements are executed. The agreement includes an option for the partner to secure exclusivity upon the payment of a fee, to be agreed, the company adds. No consideration is paid by either party on entry. Comments: "If agreed and exercised, exclusivity would run until March 1 2027 and would restrict the company from granting competing rights over Earlham, Orwell or the P2680 licence during that period and would require the company to procure the termination of ongoing discussions with third parties concerning a competing transaction. Either party may terminate the agreement for convenience on 10 business days' notice."
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Sterling Digital PLC - London-based digital asset miner - Records its first verified Bitcoin mining output during the ongoing commissioning programme. The site's power-generation system supplied electricity to Sterling's compute fleet during a controlled live-load commissioning run. Says this enabled the site to record its first verified Bitcoin mining output, "which has been deposited into the company's institutional-grade custody account with Coinbase." Adds: "This represents the first end-to-end operation of Sterling's integrated infrastructure, converting contracted low-cost West Texas natural gas into on-site electricity, computing power and digital asset output. The achievement provides operational validation of Sterling's complete gas-to-power-to-Bitcoin model under live conditions. Data gathered during the run is now being used to optimise performance across the power-generation, electrical-distribution, control and mining systems ahead of commencing continuous commercial operations. Once fully commissioned, Sterling's compute fleet is expected to provide 193,500 terahashes per second of computing capacity.
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