TRADING UPDATES: Somero ups buyback; Talisman opportunistic discovery
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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Arkle Resources PLC - Dublin-based mineral exploration and development company - Notes the announcement made Thursday by Group Eleven Resources Corp which operates the Stonepark zinc-lead project in County Limerick, in which Arkle holds an interest of just over 21%. Group Eleven reports that a new and robust zone of zinc-lead mineralisation has been discovered at Stonepark, in a step-out hole drilled 550 metres from the closest edge of the Stonepark mineral resource estimate, in previously untested ground. Group Eleven describes the result as the most significant progress at Stonepark since it acquired the licence block in 2017. Arkle Chief Executive Rory Harding says: "Through its estimated 21.38% interest, Arkle is providing shareholders with meaningful exposure to the upside of a major drilling campaign on a highly prospective zinc asset without the burden of significant exploration expenditure. Results of this nature underline the strategic value of our Stonepark interest alongside our uranium and lithium projects in Africa."
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Caledonia Mining Corporation PLC - operator of the Blanket gold mine in Zimbabwe - Says results from its surface exploration program at the Blanket mine demonstrate the presence of significant near surface gold mineralisation in a previously unknown mineralised horizon. The zone has not been exploited in the underground mine and represents an opportunity for low-cost heap leaching operations of the near surface oxide material, with potential for a sulphide extension below any potential oxide open pit, firm says. Exploration results suggest the mineralisation may represent a new orebody that has not previously been exploited and further drilling is planned to assess the extent of the mineralised system at depth. Work is "well advanced" on an updated Blanket resource statement incorporating the surface exploration programme as well as recent underground drilling and an updated resource statement is likely in August.
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Somero Enterprises Inc - Fort Myers, Florida-based concrete-levelling machinery maker - Approves a further increase in the maximum amount authorised under its 2026 share buyback programme, announced in March to USD12 million from USD6.0 million. This reflects better-than-expected first-half 2026 trading. As a result, Somero considers that its balance-sheet strength and expected cash generation provide capacity for a further return of capital to shareholders. "The increase is consistent with the company's disciplined capital-allocation framework," it stresses. Purchases under the expanded programme are expected to start after release of interim results in early September.
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Mercia Asset Management PLC - alternative asset manager focused on regional UK small and medium enterprises - Enters into a three-year facilities agreement with Metro Bank Holdings PLC, the UK-based retail and commercial bank, for up to £38.0million. This comprises a term loan facility of £13.0 million and a £25.0 million revolving loan facility. Each facility bears interest by reference to sterling overnight index average plus the applicable margin. The term loan facility has a margin of 3.99% per annum. The revolving loan facility has an opening margin of 3.50% per annum, subject to a net leverage ratchet reducing to 3.00% per annum depending on leverage. Mercia intends to use the facilities to support on-going growth initiatives, as part of its 'Mercia '27' strategic plan.
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Talisman Metals PLC - copper exploration company in Morocco, formerly Ovoca Bio PLC - Announces that a new zone of outcropping copper mineralisation at the Tirzzit copper project has been discovered, significantly extending the known mineralisation zone to the east. Talisman explains the discovery came during a scouting operation at Tirzzit in preparation for its planned drilling campaign later this summer. "Sometimes the best geology is uncovered the old-fashioned way, by mapping and prospecting. This outcrop, and the other known structures that are similar, make us extremely confident that we have a special project at Tirzzit which has size potential previously unknown," says Chief Executive Tim McCutcheon.
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Ethtry PLC - London-based company building ethereum treasury for investments in "breakthrough technologies" - Announces that it has committed £1 million to the senior secured notes facility issued by Apatura Ltd, a UK developer of large-scale battery energy storage and grid-secured data centre sites. The investment gives Ethtry a senior secured position expected to generate quarterly interest income in a developer "operating at scale across two strategically important infrastructure markets." "The investment provides Ethtry with income-generating exposure to battery storage and AI data centre infrastructure, whilst also complementing the company's own solar-led and data centre activities, where Ethtry's direct development strategy remains solar-led and data centre focused. The Apatura position provides secured exposure to a specialist third-party developer with established grid positions and consented assets," company says.
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capAI PLC - company focused on artificial intelligence systems for media and medicine - Announces licence and option agreement with R42 Group LLC covering the latter's preventative health data platform Ageotype. capAI says the deal represents its first platform within its capMedical vertical. It now has an exclusive worldwide licence to develop and commercialise Ageotype and a discretionary option to acquire the associated intellectual property for consideration of £2.0 million. Licence period expires on July 22 next year. Says R42 will be entitled to 20% of net proceeds from any future monetisation of the underlying IP if capAI exercises the acquisition option. In addition, capAI says it continues to evaluate a number of further potential opportunities within its stated capMedia and capMedical verticals, as well as in certain adjacent sectors. The majority of these opportunities involve existing R42 portfolio companies, with some also originating from other external parties. Talks are at an early stage, and there can be no certainty that any will result in a binding agreement, it adds.
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Character Group PLC - Surrey, England-based toys, games and giftware company - Completes the sale of its warehouse and office complex at Infinity House, in Middleton, Lancashire. Total proceeds of £9.8 million have been received and will be applied to the general cash resources of the company.
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Johnson Matthey PLC - London-based speciality chemicals maker - Completes the acquisition of Cormetech Inc, a Durham, North Carolina-based maker of selective catalytic reduction catalysts, for an enterprise value of USD360 million. An additional earn-out consideration of up to USD100 million may be payable in 2028 and 2029, if Cormetech achieves agreed financial performance targets. The deal was announced in May. JM says that together with the sale of Catalyst Technologies, completed last week, this represents a "significant reshaping" of its portfolio. "As JM transforms into a lean, focused and cash-generative business, built around its leading capabilities in platinum group metal chemistry and emissions control, the group is well-positioned to drive sustainable value creation," it adds. JM says the combination of its Clean Air Solutions business and Cormetech will create a "global leader in stationary emissions control, with a significant presence in the rapidly growing data centre market." The businesses bring together "highly complementary" technologies, "leading" intellectual property and diverse customer relationships. By strengthening the group's position in an "attractive" growth market, Cormetech "enhances JM's ability to deliver sustainable cash generation and shareholder returns over the long term," it adds. Chief Executive Liam Condon says: "Today marks a new chapter for JM."
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