Bradda Head Lithium Advances with Key Drilling Permit
Bradda Head Lithium (LON: BHL) has successfully obtained a crucial drilling permit for its Whitejacket lithium project located in Arizona. This drilling program is set to fulfill earn-in commitments while also contributing to a comprehensive mineral resource estimate. Following this positive development, the company's share price experienced a remarkable increase of 40.4%, rising to 4p.
Significant Financial Moves Across Multiple Companies
In a strategic move, Tern (LON: TERN) has invested £48,000 in cash while converting £87,000 owed into unsecured convertible loan notes worth £270,000 in Talking Medicines. With a 10% interest rate, these notes could be converted at a 20% discount to either a fundraising or exit price if triggered. If conversion does not occur, the notes are set to mature on November 21, 2029. This development positively impacted Tern's share price, which surged by 27.8% to 1.15p.
Meanwhile, Kazera Global (LON: KZG) announced that its subsidiary Whale Head Minerals has entered into a production sharing agreement with Rare Earth Minerals International (REMI) for the Walviskop heavy mineral sands project. Effective from June 1 for a duration of 12 months, REMI is set to deploy a processing plant valued at £1 million and will receive 50% of the generated revenues, in addition to contributing £27,000 per month towards project costs. The production is expected to ramp up to 10,000 tonnes of processed heavy mineral sands per month by the end of September, leading to a share price increase of 14.6%, reaching 1.175p.
Ariana Resources (LON: AAU) has provided an update on its pre-feasibility study for the Dokwe gold project in Zimbabwe. The post-tax NPV10 is projected to be $740 million based on a gold price of $4,250 per ounce, reflecting a 42% increase in ore reserves to 1.13 million ounces. The total pre-production capital expenditure is estimated at $163.9 million, which resulted in a 9.46% rise in the share price to 2.025p.
In a notable transaction, Sound Energy (LON: SOU) is divesting its development assets in Morocco for a total of $57 million in cash while also relinquishing surrounding exploration assets. Following debt repayment, the company anticipates maintaining $11 million in cash. Additionally, there are ongoing discussions regarding solar and hydrogen joint ventures, with annual overhead costs amounting to $2.9 million. The company is also evaluating new oil and gas assets outside of Morocco, although its share price fell significantly by 41.5% to 2.75p.
Union Jack Oil (LON: UJO) has reported a net production of 0.16 million barrels of oil equivalent per day for 2025, generating revenues of £2.5 million. As of the end of 2025, the company had cash reserves of £1.6 million. For 2026, revenues are projected to reach £3.1 million, with net cash expected to stand at £1.3 million by year-end. The total risked NAV estimate is currently at 35p per share, though the share price dipped by 17.9% to 3.9p.
Diaceutics (LON: DXRX), a provider of technology and data for the pharmaceutical industry, recorded annualized recurring revenues of £20 million by the end of 2025. The reported revenues increased by 20% to £38.4 million, enabling the company to return to profitability despite incurring redundancy and acquisition costs of £798,000. Notably, the largest customer accounted for 18% of the total revenues, while the order book surged by 56% to £38.9 million, with £21.1 million of visibility for the upcoming 12 months, up from £17.7 million last year. Constant currency revenue growth was recorded at 15% in the first quarter, although the share price fell by 10.8% to 148.5p.
Sancus Lending (LON: LEND) reported a significant increase in revenues, which were up 44% at £8.5 million for the four months leading to April 2026. New loan facilities written amounted to £42.9 million, with assets under management totaling £326.8 million. However, the current global economic landscape has resulted in slower-than-expected capital deployment, and the reduced income on cash balances has adversely affected profits, leading to figures that fell below expectations. In response, the company has issued £500,000 in bonds to Somerston Fintech, a subsidiary of the majority shareholder, to secure working capital. Consequently, the share price decreased by 8% to 1.15p.
As reported by ukinvestormagazine.co.uk.
