Significant Investments and Project Developments
Tern (LON: TERN) has made a strategic investment of £48,000 in cash while converting £87,000 of debt into £270,000 worth of unsecured convertible loan notes in Talking Medicines. These notes carry a 10% interest rate, and if the conversion is activated, the share price will be set at a 20% discount relative to the fundraising or exit price. In the event that conversion is not triggered, these convertibles are scheduled to mature on November 21, 2029. Following this announcement, Tern's share price surged by an impressive 44.4%, reaching 1.3p.
In a separate development, Geo Exploration (LON: GEO) has commenced its work program on the Gorge project located in Western Australia. The company completed its airborne LiDAR survey ahead of schedule and has now initiated the magnetic and radiometric survey. This positive momentum has contributed to a 39.4% increase in their share price, which now stands at 0.115p.
Drilling Permits and Strategic Settlements
Bradda Head Lithium (LON: BHL) has secured an essential drilling permit for its Whitejacket lithium project in Arizona, which is pivotal for fulfilling earn-in commitments and advancing towards a comprehensive mineral resource estimate. As a result of this positive news, the company's share price has seen a notable improvement of one-third, now valued at 3.8p.
Meanwhile, copper explorer Arc Minerals (LON: ARCM) has reached a settlement with Handa Resources Ltd, Unico Minerals Ltd, Kopara Investments Ltd, Zambia Mineral Exchange Corporation Ltd, Lunda Resources Ltd, and Mumena Mushinge in Zambia. This settlement is set to facilitate the development of the Kabompo West project. Karl-Erik von Bahr, a significant stakeholder, owns 3.27% of the company, which saw its share price rise by 30.7% to 0.49p.
However, Sound Energy (LON: SOU) is undergoing a challenging period as it prepares to divest its development assets in Morocco for $57 million in cash while relinquishing adjacent exploration assets. This transaction will leave the company with approximately $11 million in cash after settling debts, and it is also exploring solar and hydrogen joint ventures. With annual overheads amounting to $2.9 million, the company is considering new oil and gas assets outside Morocco. Unfortunately, the share price has plummeted by three-fifths, currently at 1.88p.
Union Jack Oil (LON: UJO) has released additional details regarding AGM resolutions 7 and 10, amidst a disagreement involving non-executive director John Americanos, the largest shareholder with a 6.78% stake. Resolution 7 pertains to the appointment of Craig Howie as a director, which the board, excluding Americanos, opposes due to concerns about Howie's qualifications and prior breaches of confidentiality. The AGM will also address a proposal to reduce the nominal value of shares from 5p, which exceeds the market price, to 0.05p to facilitate share issuance. The company achieved a net production of 0.16 million barrels of oil equivalent per day in 2025, generating revenues of £2.5 million, with cash reserves at £1.6 million at the close of 2025. Projections for 2026 indicate revenues of £3.1 million, with expected net cash of £1.3 million by year-end. Despite these developments, the share price has declined by 22.1%, now standing at 3.7p.
Jangada Mines (LON: JAN) has reported that high-grade intersections confirm the Molly gold project in Brazil as a multi-target polymetallic discovery, with findings of gold, silver, and copper mineralization. However, full results have yet to be assessed due to a laboratory backlog, causing a 21.7% drop in the share price to 1.175p.
On a more positive note, low sodium salt developer MircoSalt (LON: SALT) has experienced a significant revenue increase from $800,000 to $2.1 million in 2025, with expectations of doubling again this year as new contracts materialize. However, the revenue forecast for 2026 has been revised downward from $7 million to $4.6 million due to production delays at a key customer. The company anticipates net debt of approximately $1.9 million by the end of 2026, while 2027 is projected to be cash generative, with potential revenues reaching $15 million. The share price has dipped 18.2%, now at 40.5p.
As reported by ukinvestormagazine.co.uk.
