TRADING UPDATES: Windar hails 'strongest ever first quarter'
The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
----------
Predator Oil & Gas Holdings PLC - Morocco and Trinidad-focused oil and gas company - Provides an update on its Snowcap-3 well. Makes several orders to support the 2026 programme, which includes the SC-3 appraisal/development well in the Cory Moruga Exploration as well as securing a production licence. Orders include: 133/8 inch and 95/8 inch well casing, 7 inch production liner, casing accessories, 27/8 inch completion tubing, mud chemicals and 41/2 inch high shot density PowerJet Nova perforating guns. Expects these to be delivered within 65 days. Further, permitting for SC-3 drilling ‘continues’, with site layout plans being designed, Predator says. Moving forward, three follow-up locations have been identified for development wells upon successful completion of the SC-3 well and analysis of the test data and early production performance. Following a review of newly accessed 3D seismic and well data, Predator will also evaluate the Herrera #8 Sand at the SC-3 well, which flowed at up to 1,450 bopd on initial testing. The company had previously focused primarily on the Herrera #1 Sand, which is producing in the adjacent Moruga West field and was tested at 179 barrels of oil per day at the Rochard-1 well on the Cory Moruga Licence. ‘The new seismic and geological interpretation now correlates the interval tested at a combined rate of 696 bopd in Rochard-1 in 1955 with the Snowcap-1 penetration of the Herrera #8 Sand 1.1 kilometres to the northeast. This potentially increases the extent of the oil-bearing Herrera #8 Sand further to the southwest than was previously interpreted,’ Predator says.
----------
Hamak Strategy Ltd - Africa-focused gold exploration firm and digital asset treasury manager - Commences a 4,125 metres reverse circulation resource drill programme on the Akoko gold project in southwest Ghana. The programme is designed to generate a maiden Joint Ore Reserves Committee-compliant mineral resource estimate and support the preparation of a preliminary economic assessment. ‘Drilling is focused on the upper 80 metres where modelling suggests the primary oxide gold target is, and which could be amenable to low-cost open pit mining and processing. We look forward to providing regular updates on the exploration results from this programme,’ says Chief Executive Officer Karl Smithson.
----------
Windar Photonics PLC - provider of light detection and ranging solutions for the wind energy industry with production, R&D and administrative operations in Ishoj, Denmark - Records ‘strongest ever first quarter in terms of new test order activity.’ Says it is currently engaged in, or about to commence, ten tests simultaneously across Asia, Europe, Australia and North America. ‘The independent power producers commissioning these tests together operate more than 10,000 turbines - making this by far the most extensive concurrent testing programme in the company’s history. We are confident this programme establishes a strong foundation for meaningful new sales revenue from the second half of 2026,’ Windar says. For 2026, expects revenue of at least €7.8 million, representing growth of at least 22% over the prior year, with adjusted earnings before interest, taxes, depreciation and amortisation of at least €500,000. For 2025, expects to report revenue of €6.4 million, up 39% from 2024, with an Ebitda loss of €400,000, down 20%. 2025 results will be announced in May. Also, signs a binding agreement with GEM Global Yield LLC SCS to implement a share subscription facility with a total commitment from GEM of up to £20 million.
----------
Uru Metals Ltd - mineral exploration & development company - Completes line preparation across both priority survey areas for the planned ground-based geophysical programme at its Zeb Nickel Project. The ground-based gravity survey is scheduled to commence April 15, with the frequency-domain electromagnetic survey to begin shortly thereafter. ‘The programme forms part of the next phase of exploration aimed at enhancing the resolution of the previously completed airborne geophysical surveys,’ Uru says. Adds: ‘The airborne programme successfully identified several compelling coincident gravity-magnetic-electromagnetic anomalies interpreted to be associated with a magmatic conduit system linking the Uitloop ultramafic bodies. The higher-resolution ground-based surveys are expected to refine these anomalies, improve target definition, and better constrain the geometry of conductive bodies potentially associated with semi-massive nickel sulphide mineralisation. The results of the gravity and FDEM surveys will support prioritisation of drill targets and maximise the effectiveness of the company’s upcoming drilling campaign.’
----------
Metals One PLC - critical and precious metals project developer and investor - Updates on the proposed acquisition by Lions Bay Resources (Pty) Ltd of certain assets of Vantage Goldfields (Pty) Ltd Group in South Africa. Metals One owns 30% of LBR with the option to increase its ownership to 49.9%. LBR has submitted two revised offers to the business rescue practitioner: an offer for the assets of Barbrook Mines (Pty) Ltd for R 279 million ($17.0 million), and an offer for Makonjwaan Imperial Mining Company (Pty) Ltd for a nominal sum of R 1.00. As part of the Barbrook offer, upon approval by creditors, LBR has agreed to pay the full salary claims of the former employees of MIMCO as well as Barbrook. ‘The revised offers follow the adjournment of the creditor meeting to approve LBR’s plan to acquire the Vantage assets by the BRP - LBR’s revision of the offers to focus on Barbrook is a function of feedback from the creditors meeting and circumstances around the Lily Mine complex,’ Metals One says. LBR’s proposed acquisition of the Vantage assets out of business rescue has been endorsed by the BRP and the major creditor and recently circulated to all creditors. LBR previously deposited $10 million in an escrow account with the BRP’s legal practitioner. Upon approval of the plan, funds will be deployed to pay staff 100% of their entitlements, less any amounts previously settled by the major creditor and pay creditors 10% of their approved claims, with the 90% balance paid to creditors once the Section 11 transfer of mining rights application has been granted. ‘LBR is considering confidential offers for project level financing for the balance of funding required to complete the Barbrook and MIMCO acquisitions alongside additional initial mine startup capital,’ Metals One adds. The revised offers remain subject to the agreement of creditors at the creditors meeting expected to be held April 16 as well as LBR securing the funding necessary to settle the minimum $7.0 million required should the offers be approved by creditors.
----------
SulNOx Group PLC - London-based green fuel technology developer - Raises £2.0 million gross through a subscription for 4.5 million shares at 45 pence each from investors led by a shipowner whose company has been using Sulnox Eco on multiple vessels for more than two years, as well as a substantial existing shareholder. ‘The Subscription follows strong trading performance during 2025 across the business and provides the Company with additional capital to support its growing pipeline of commercial opportunities - including engagement with 85 shipping companies globally,’ company says. Each investor will also receive one warrant for every two subscription shares, at an exercise price of 49.5 pence per share, subject to new allotment authorities being granted at a future general meeting of the company, with a term of 3 years from the date such new allotment authorities are approved by shareholders.
----------
Tufton Assets Ltd - investment firm focused on secondhand commercial sea vessels - First quarter operating profit totals $11.1 million, or $0.041 per share. Net asset value at March 31 is $373.1 million, or $1.395 per share. NAV total return is 2.2%. Declares dividend of $0.025. Comments: ‘Tanker charter rates were already improving before the Iranian/US war and the closure of the Strait of Hormuz pushed them higher. At the same time the overall market value of the company’s product tankers and bulkers continued to gradually rise. The unrealised capital value component of the NAV movement was negative because of the increase in rates following the Hormuz closure resulting in a NAV total return of only 2.2% for the quarter, and 11.9% for the nine months to the end of March. As time passes, we would expect this capital value component to become balanced or even turn positive in the future when shipping rates become less volatile.’ Tufton’s financial year concludes on June 30.
----------
JPMorgan Global Core Real Assets Ltd - investor in infrastructure, transportation and real estate assets - Announces the return of £24.0 million to shareholders by way of a compulsory partial redemption of up to 25.0 million shares on April 30. This accounts for 46.5% of its share capital. The redemption price per share will be 96.21 pence, being the NAV per Share as at March 31 adjusted for costs. JPM will fund the redemption using existing cash.
----------
Astrid Intelligence PLC - London-based company specialising in artificial intelligence, formerly known as Cel AI PLC - Updates on its operational participation in Subnet 46 RESI, an independent AI start up within the Bittensor ecosystem. In November, Astrid committed 1,262 TAO to Subnet 46 through an on-market acquisition of subnet tokens. As of April 15, Astrid’s holdings in RESI have increased to 1,754 TAO, up 39% since the beginning of the partnership. Comments: ‘There is growing momentum in the US financial system toward tokenising assets such as bonds, equities, and real estate. Major institutions like BlackRock have expressed that tokenisation could apply across all asset classes, and exchanges like the NYSE are exploring digital platforms for tokenised trading alongside existing infrastructure. Before this can be done, there needs to be a reliable and accurate on-chain price oracle for properties. An oracle that lenders can use that data in order to lend against. Subnet 46 RESI is doing that and is providing market leading accurate remote-housing appraisals (within 2 days and no surveyor) in the US which is taking on the digital asset home equity line of credit space.’
----------
Poolbeg Pharma PLC - London-based clinical stage biopharmaceutical firm focused on cancer immunotherapy - The UK medicines and healthcare products regulatory agency grants clinical trial authorisation Poolbeg’s POLB 001 TOPICAL trial. ‘With all required regulatory clearances now in place and site initiation visits scheduled, the trial remains on track to deliver interim data this summer,’ company says. Also, announces positive findings from new independent US focused payer research conducted by Acumetis Global which indicate multi-billion-dollar peak sales potential in the US. ‘The research, which engaged current payers covering approximately 75 million lives across a mix of commercial insurance providers, Medicare and Medicaid, confirms the strong, clearly defined value proposition for POLB 001. In particular, findings underscore POLB 001’s potential to play an important role in the management of cytokine release syndrome by reducing the significant hospital costs associated with the condition and enabling a meaningful shift in care away from specialist centres of excellence toward outpatient and community settings,’ Poolbeg says.
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.