TRADING UPDATES: Ryanair makes Rimini move; Caspian Sunrise seals deal
The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Critical Metals PLC - London-based mining company, operating the Molulu copper/cobalt project in the Democratic Republic of Congo - Confirms that it knows of no reason for the recent rise in its share price. Shares rose 18% on Thursday and have nearly doubled in the last five days.
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Ryanair Holdings PLC - Dublin-based airline operator - Announces its new 2-aircraft base (a USD200 million investment) in Rimini for Summer 2027, a "significant milestone" of the airline's commitment to deliver increased connectivity, year-round inbound tourism, and job opportunities for Emilia-Romagna. With the new base, Ryanair will operate its largest-ever schedule from Rimini in summer 2027, offering over 600,000 low fare seats across 17 routes.
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Caspian Sunrise PLC - mining company focused on Kazakhstan's oil and gas sector - Following the receipt of the required Kazakh regulatory approvals Caspian says the acquisition of Tau-Cen, announced in December 2025, has now completed. Tau-Cen represents the group's first non-oil and gas minerals investment, with the principal minerals of interest being titanium, zirconium and gold. The Tau-Cen licences extend over an area of 235.8 square kilometres with exploration licences running until 2031. An exploration work plan has been approved with the Kazakh authorities with topographic surveys and magnetic exploration now underway during which we expect to drill around 12,000 linear meters. Caspain paid USD700,000 for Tau-Cen comprising USD350,000 in cash, and the issue to Amirbek Oraziman, who is a member of the Oraziman family concert party, of 5.2 million Caspian shares at 5p each.
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Ajax Resources PLC - London-based natural resources investment company - Provides an update on the environmental impact assessment approval process for its Macacha copper and silver project in Salta Province, Argentina, including the engagement of Andes Exploration and the appointment of its Chief Executive Officer, Leandro Sastre, as qualified person for the planned drilling programme of up to 5,000 metres, as well as the submission of an application to expand the project through the addition of a new licence, Macacha IV. Ajax believes that approval of the EIA will be received shortly and anticipates receiving the necessary authorisation before the end of October, although the timing of the final decision remains subject to the relevant provincial authorities an cannot be guaranteed. The approval of the EIA will enable the company to proceed with its planned initial exploration drilling programme, it notes.
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Predator Oil & Gas Holdings PLC - Morocco and Trinidad-focused oil and gas company - Raises £2.5 million via a placing at 1.5p per share. The capital raise was arranged by the company's joint brokers AlbR Capital Ltd and Crest Corporate Broking. Proceeds will be used to expand the Snowcap-3 production facilities for increased initial throughput to accelerate sales revenue growth; "hot-stack" the Snowcap-3 drilling rig at the well site to be drill-ready for additional development wells; and to fund additional well testing on up to 2 Goudron infield development wells. Stephen Boldy, non-executive chair comments: "Proceeds from the placing announced today are focussed on exploiting a window of opportunity to accelerate production growth in Trinidad to avail of higher oil price and economies of scale. Additionally, we have experienced that drilling and well testing costs have increased due to global inflation generated by the Middle East conflict. It is absolutely critical therefore that the company remains well capitalised as it transitions to accelerated production to demonstrate short-term financial strength and ability to access the capital markets for business growth to support partnering up in Morocco and the DCCE financial review in the context of the potential awarding of a Corrib South successor authorisation. Corrib South has the potential to extend the life of the Corrib infrastructure and provide a new indigenous gas supply and reduce dependence on imported gas from Britain."
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Quantum Helium Ltd - Sydney-based miner targeting helium, hydrogen and hydrocarbons in the US and Australia - Provide an update on preparations for the next phase of stimulation and flow testing at its Sagebrush-1 helium discovery in Colorado, where it holds a 90% working interest. Detailed engineering and operational planning for the larger-volume, propped fracture stimulation programme is now substantially complete, with the company in the process of finalising the remaining technical and logistical arrangements ahead of field operations targeted to commence in November. CEO Howard McLaughlin says: "We are making excellent progress towards the next phase of operations at Sagebrush and are now entering the final stages of preparation for what we believe will be a very important operational programme. Extensive engineering work has been undertaken alongside highly experienced fracture stimulation specialists to design a treatment that gives us the best opportunity to establish stronger, sustainable gas flow rates from the Leadville reservoir. We have already confirmed the presence of helium and demonstrated the scale of the reservoir structure. Our focus now is on applying the appropriate engineering solution to improve reservoir connectivity and establish the flow characteristics required to advance Sagebrush towards commercial development."
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Mindflair PLC - London-based investor in artificial intelligence technology - Raises £1.1 million via a placing at a price of 0.27 pence per share, a 10% discount to Wednesday's closing bid price. Mindflair says: "The purpose of this fundraising is to provide new funds to allow the company to carry on with its investment activities through [Sure Valley Ventures] and to enable certain selected direct investments to be made which, to date, have provided significant cash returns to the company." Director Nicholas Lee says: "We have funded our investment activities for almost the last two years from realisations alone and this fundraising will allow us to continue to deploy capital in our exciting investment strategy and build our portfolio of AI focused companies."
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