Upstream Share Discussion Threads

[master rsi] 12/2/2025 22:23

HE1 1.02p +0.01p - Helium One Global mobilises drilling rig for Jackson-31 well

Helium One Global Ltd - Tanzania-focused helium exploration company with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, US - Says a drilling rig has been mobilised up to the Jackson 31 well in Las Animas County in Colorado, and is currently in the process of rigging up. This follows the completion of site works and the delivery of all casing to the site.
Drilling operations are expected to begin "shortly" after rigging up is completed.

[master rsi] 12/2/2025 21:42

DOW

Closed 225 points down

[master rsi] 12/2/2025 16:21

How the UPS are performing during last month

[master rsi] 12/2/2025 16:03

How the UPS are performing today

[boomer8] 12/2/2025 16:02

F and I dads

[master rsi] 12/2/2025 15:46

BOOM 515p +30p

Today's movements

[master rsi] 12/2/2025 15:28

Yhe MARKETS

FTSE 100
8,788.050.12%

Dow Jones
44,190.17-0.90%

Gold vs US Dollar
2,895.585-0.11%

Brent Oil
75.725-1.19%

Bitcoin
94,938.70

[master rsi] 12/2/2025 15:13

Pan African Resources ratings mixed after interim results
(Alliance News) - Shares in Pan African Resources PLC tumbled on Wednesday after the junior gold producer reported dismal annual financial results.

Berenberg kept its recommendation for Pan African, looking past some setbacks the miner encountered in the first six months to December 31. But Peel Hunt plans to review its share price target for the group.

Berenberg maintained share price target at 42 pence, with a 'buy' rating.

In London, Pan African shares shed 5.5% to 35.55 pence, while they were down 9.3% at ZAR7.97 in Johannesburg.

The German lender said Pan African posted a "fairly challenging" set of interim results and, while progress has been made in the group, some of the mines, such as Barberton and Evander in Mpumalanga, are struggling to keep their costs down.

"We look for colour from management on the strategy to cut costs at these mines and what a sensible long-term cost is; taking a step back, the company has some great low-cost assets and growth potential, which we think is compelling, but we would expect a lighter reaction from the shares today given elevated costs and higher net debt," Berenberg said.

Peel retained its 'buy' recommendation, but indicated it intends to review estimates and its 44p share target price.

Adding in the USD17.4 million impact from the gold loan explains the difference between the adjusted earnings before interest, taxes, depreciation and amortisation of USD58 million and Peel's USD75 million forecast, Peel said.

Ebitda for the second half ending June 30 should see a "significant step up half-on-half", given the completion of the Evander shaft and the Mogale tailings retreatment project, plus there being just the last two gold loan instalments, versus the six in the half just completed, Peel said.

"While the headline Ebitda is low versus our expectations, we think the completion of the gold loan this month will lead the market to look through the Ebitda impact for FY25E, but it may take some time to work through the adjustments," Peel said.

For the first six months to December 31, Pan African on Wednesday recorded pretax profit of USD56.1 million, down 2.1% from USD57.3 million a year earlier. Revenue for the first half was USD189.3 million, slightly down from USD191.1 million.

Gold production was 3.3% lower at 84,705 ounces from 87,581 ounces, after Evander Mines' underground production was hit by the delay in commissioning of the subvertical shaft for ore hoisting.

All-in sustaining costs rose 29% to USD1,675 an ounce in the first half, compared to USD1,295.

Earnings per share was up 10.3% to 2.35 US cents per share from restated 2.13 cents, while headline EPS fell 44% to 1.20 cents from 2.13 cents. EPS included a gain on acquisition related to Tennant Consolidated Mining Group Pty Ltd.

[master rsi] 12/2/2025 14:40

DOW

Opening well down with 421 points

[master rsi] 12/2/2025 13:07

MARKET REPORT
LONDON MARKET MIDDAY: FTSE 100 makes minor gain before US data

Alliance News) - European equities edged slightly higher on Wednesday afternoon, but trade lacked impetus as investors await a US inflation report.

The FTSE 100 index traded up 8.88 points, 0.1%, at 8,786.27. The FTSE 250 was 105.22 points higher, 0.5%, at 21,024.94, and the AIM All-Share rose just 0.34 of a point at 724.88.

The Cboe UK 100 was up 0.1% at 879.98, the Cboe UK 250 was 0.6% higher at 18,366.30, and the Cboe Small Companies was up 0.5% at 15,957.30.

In European equities, the CAC 40 in Paris was fractionally higher, while the DAX 40 in Frankfurt added 0.3%. The blue-chip benchmark in Frankfurt spiked above 22,100 points to hit a new record high.

Analysts at Deutsche Bank noted "markets have been getting slightly more concerned in recent days" over inflation.

Wednesday's data at 1330 GMT is expected to show the pace of annual US consumer price inflation was unmoved at 2.9% at the start of the year.

"In terms of what to expect, our US economists are looking for monthly headline CPI at +0.31%, which would keep the year-on-year rate at +2.9%. Then for core CPI, they're looking for a monthly +0.28% print, with the year-on-year rate ticking down a tenth to +3.1%. The other key thing to look out for will be the annual revisions to the seasonal adjustment factors, which could affect the last 5 years of data. Last year the revisions didn't change the picture much at all, but two years ago they showed that inflation wasn't slowing as rapidly as we thought, so that shifted attitudes in a more hawkish direction," Deutsche analysts added.

Ahead of the data, Federal Reserve Chair Jerome Powell said Wednesday the central bank is in no hurry to cut rates. Powell testifies before US lawmakers for a second day on Thursday.

"Normally the second act doesn't get as many headlines but there's a chance today's CPI may solicit a slightly different tone or encourage different questions. All depends on where the release is relative to expectations," Deutsche analysts said.

The pound was quoted at USD1.2458 early Wednesday afternoon, perking up from USD1.2421 at the time of the London equities close on Tuesday. The euro climbed to USD1.0377 from USD1.0349. Against the yen, the dollar surged to JPY153.51 from JPY152.31.

Convera analyst George Vessey said there are signs of "tariff fatigue" in foreign exchange markets.

"While tariff risks persist, currencies have responded resiliently, with risk-sensitive FX appreciating against the dollar," Vessey said.

In London, Prudential shares shot up 6.6%. The Asia-focused insurer said it is mulling a potential listing of ICICI Prudential Asset Management. The move would involve the "partial divestment of its shares".

"It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders. We will provide a further update at an appropriate time," Prudential said.

The company has undergone a series of changes in recent years, including the spin-off of M&G and the demerger of Jackson Life.

Barratt Redrow added 5.1%. It said it expects annual earnings at the upper end of consensus amid signs of improving market conditions.

The housebuilder said the integration of Redrow is "progressing well" with GBP100 million of cost synergies expected, GBP10 million ahead of the original target.

Pretax profit improved 23% to GBP117.2 million in the 26 weeks to December 29 from GBP95.2 million a year earlier. Revenue rose 23% to GBP2.28 billion from GBP1.85 billion.

Reported metrics are based on the reported performance of the Barratt Group in the comparable reporting period, and do not include Redrow, an acquisition sealed in August to form Barratt Redrow, the firm explained.

Chief Executive David Thomas said he is "pleased" with the performance.

"As the economic, political and lending environments have stabilised, there has been some recovery in customer demand and we have seen solid reservation activity since the start of January, building a strong forward sales position.

"As a result, we now expect our full year adjusted profit before tax will be towards the upper end of market expectations."

Barratt Redrow puts adjusted pretax profit consensus at GBP542 million, with a range between GBP506 million to GBP588 million.

Looking further it ahead, it provided medium-term guidance for the newly combined group.

It expects to deliver 22,000 homes per year in the medium-term, with the operating margin reaching around 15%. The operating margin in the half-year just ended was 5.0%, slipping from 5.3%.

TBC Bank led the way among the FTSE 250, jumping 11%. It hailed record profit in 2024, highlighting economic growth in Georgia and a solid expansion in Uzbekistan.

The Tbilisi, Georgia-headquartered lender said pretax profit in 2024 rose 16% to GEL1.54 billion, around GBP443.0 million, from GEL1.33 billion in 2023.

Net profit climbed 15% to a record GEL1.31 billion.

Also on the up in London were easyJet and Wizz Air. Wizz Air added 3.5%, while easyJet rose 1.7%. Kepler Cheuvreux started easyJet at 'buy' but Wizz Air at 'hold'. It started IAG at 'buy', though Bernstein cut the British Airways parent to 'market-perform' from 'outperform'.

IAG shares were down 0.1%.

Drugmaker GSK lost 1.2% after Morgan Stanley started the stock at 'underweight'.

GSK was among the heavyweights capping the FTSE 100's progress, as were Shell and BP, who fell 0.7% and 1.1%. The oil majors tracked Brent lower.

A barrel of Brent fell to USD76.18 early Wednesday afternoon, from USD76.81 at the London equities close on Tuesday. Gold faded to USD2,882.59 an ounce from USD2,906.30.

Fresnillo and Endeavour Mining followed gold lower, giving back 0.7% and 0.9%.

Elsewhere in London, Gelion shares charged 10% higher. The battery technology company said it has shown that its proprietary Gen 3 Sulfur Cathodes are viable for full solid-state batteries, following testing by a "renowned European research institution".

This means the company can establish a "significant market presence" alongside traditional lithium-ion cathodes, the company said.

Analysts at Cavendish commented: "The demonstration comprised Gelion's high-energy density sulfur cathode material which was tested by an independent third party in a full solid-state battery. We believe this provides a meaningful reference point which could be used to help secure potential strategic partners, and that it remains the company's key focus."

[master rsi] 12/2/2025 12:26

How the UPS are performing during last month

[master rsi] 12/2/2025 12:07

How the UPS are performing today

[master rsi] 12/2/2025 11:43

EEE -- STRANGE but TRUE

spread 8.20 v 8.40p

to sell 8.37p
to buy 8.39p

It's time to fill your boots it seems

[master rsi] 12/2/2025 11:00

SUN 0.65p (0.10p / 18.18%) - Surgical Innovations profit boosted in second half, names new CFO

(Alliance News) - Surgical Innovations Group PLC on Wednesday said it enjoyed a profitable second half of the year, as it named Brent Greetham as its new chief financial officer.

The surgical and medical instrument manufacturer said adjusted earnings before interest, tax, depreciation and amortisation in 2024 are "slightly ahead" of market expectations.

The firm said profit has benefited from "stringent cost controls", with restructuring efforts contributing to a profitable second half compared to the first six months of 2024.

It expects to report full-year revenue "broadly in line" with market expectations.

The company said Brent Greetham will take over as chief financial officer from February 24.

Current Chief Financial Officer Chris Martin is leaving to "pursue another opportunity" and will step down from the board on Friday.

Greetham most recently worked as senior finance director for the Discovery division at Charles River Laboratories International Inc for nearly seven years.

[master rsi] 12/2/2025 10:17

MTI Wireless Edge shares jump as Antenna arm wins "significant" order

(Alliance News) - MTI Wireless Edge Ltd on Wednesday said its Antenna division has won a "significant" repeat order from an unnamed system house in Israel.

The Israel-based communication and radio frequency technology company said the order was for the manufacturing of military antennas, and was worth around USD4.0 million in total.

Shares in MTI Wireless Edge were up 8.3% to 52.50 pence each in London on Wednesday morning.

It expects to be delivering the antennas until June 30, 2026.

"We are thrilled with this repeat manufacturing order as it is one of the largest orders we have ever received and demonstrates our ability to deliver high-quality services and innovative solutions to meet our clients' needs," said Chief Executive Officer Moni Borovitz.

"The order entails the supply of state-of-the-art antennas and is integral to an end use which is considered to be one of the most advanced systems of its kind in the world. The antennas are designed to deliver unmatched accuracy and robust communication, leveraging our sophisticated and complex production technology.

[master rsi] 12/2/2025 09:49

GGP 8.40p -0.325p

Continuing with the profit-taking

[master rsi] 12/2/2025 09:16

MARKET REPORT
LONDON MARKET OPEN: FTSE 100 treads water but Europe up before US data
Wed, 12th Feb 2025 08:49Alliance News

(Alliance News) - London's FTSE 100 kicked off Wednesday in a tepid fashion, but stocks in Asia climbed and peers in Europe were on the up, with Frankfurt's DAX 40 hitting another record high.

The FTSE 100 index traded up just 1.87 points at 8,779.26. The FTSE 250 was 82.05 points, 0.4%, at 21,001.77, and the AIM All-Share rose 1.28 points, 0.2%, at 723.26.

The Cboe UK 100 was flat at 879.44, the Cboe UK 250 was 0.6% higher at 18,367.57, and the Cboe Small Companies was up 0.4% at 11,056.14.

In European equities the CAC 40 in Paris and the DAX 40 in Frankfurt each added 0.2%. The blue-chip benchmark in Frankfurt stretched further above the 22,000 point mark, to sit around a record high.

The pound was quoted at USD1.2454 early Wednesday, perking up from USD1.2421 at the time of the London equities close on Tuesday. The euro climbed to USD1.0373 from USD1.0349. Against the yen, the dollar surged to JPY153.57 from JPY152.31.

In focus on Wednesday is a US inflation reading due at 1330 GMT. Wednesday's data is expected to show the pace of annual US consumer price inflation was unmoved at 2.9% at the start of the year.

"Markets have been getting slightly more concerned in recent days as to where inflation will be next year. We'll know a little more about the near term direction of travel today with US CPI out later. Ahead of that bonds have continued to sell off from their 2025 yield lows seen last week. There were a few catalysts yesterday but comments from Fed Chair Powell, who said that "we do not need to be in a hurry to adjust our policy stance" were a factor even if that's what we expected him to say. But on top of that, a fresh rise in energy prices and the prospect of retaliatory tariffs from the EU led to anxiety that inflation would keep lingering above target for some time.

"This backdrop makes it an interesting day to get the US CPI print for January, which will offer the first big clue on inflation in 2025. Today's report is getting a decent amount of attention, in part because last January's report saw a strong upside surprise, so the fear is we could get another new year uptick that upsets market expectations for the Fed to still cut this year. That's particularly the case because recent data has leant in a more hawkish direction, with the 3m annualised rate of CPI already running at 3.9% in December, whilst the 6m rate was at 3.0%."

The Hang Seng Index in Hong Kong jumped 2.6%. The Shanghai Composite rose 0.9%. Sydney's S&P/ASX 200 ended 0.6% higher.

In Tokyo, the Nikkei 225 added 0.4%.

Japan asked the US on Wednesday to be exempt from President Donald Trump's tariffs on steel and aluminium exports, Tokyo's top government spokesman said.

Trump has signed executive orders to impose 25% tariffs on imports of steel and aluminium starting March 12, triggering angry reactions internationally including from Canada, Mexico, and the EU.

"We are aware of the presidential order about additional tariffs on steel and aluminium were issued... we have requested to the US government to exclude our country from the measures," Yoshimasa Hayashi told reporters.

The request was made through the Japanese embassy in the US early Wednesday, he said.

The UK government's budget spending plans are expected to provide a "temporary boost" to economic growth although this could be dragged by Trump tariffs, an economic think tank has said.

Inflation is also predicted to have accelerated at the start of this year, putting continued pressure on budgets, according to the National Institute of Economic & Social Research, Niesr.

In its quarterly economic outlook report, Niesr said it was projecting that the UK economy would grow by 1.5% this year, lifting its previous forecast of 1.2%.

It said the growth would be driven mainly by the increased spending programme announced in the October budget, which it expected would have a "tangible effect" throughout the year.

But economists at the organisation said this was likely to "only be a temporary boost" for growth.

In London, shares in Barratt Redrow shot up 7.4%. It said it was pleased by its outturn for the half-year to December 29.

The housebuilder now expects full year adjusted profit before tax will be towards the upper end of market expectations.

Barratt Redrow puts adjusted pretax profit consensus at GBP542 million, with a range between GBP506 million to GBP588 million.

Edison analyst Andy Murphy commented: "The company is benefitting from a more stable economic and lending environment, but the housing market remains sensitive to broader conditions. Nevertheless, with its scale and strong track record, Barratt Redrow is well positioned to capitalise on underlying demand and drive long-term growth."

Close Brothers Group fell 1.2%. The merchant bank said it has set aside GBP165 million after the merchant bank reviewed its provision assessment in relation to an ongoing motor finance matter

Close Brothers said: "The group has been reviewing its accounting assessment of these matters, as previously stated. As a result, the group anticipates that it will recognise a provision in the H1 2025 financial statements in relation to motor commissions of up to GBP165 million. This includes estimates for certain potential operational and legal costs, as well as estimates for potential remediation for affected customers."

Molten Ventures climbed 4.7%. The tech-focused venture capital firm committed an additional GBP15 million to the ongoing GBP5 million share repurchase programme ahead of an investor day on Wednesday.

Chief Executive Officer Ben Wilkinson said: "The board's commitment today to expand the share repurchase programme is in further recognition of the discount to asset value at which we are trading and takes advantage of the significant returns we have generated from realisations this year. Our strong capital position allows us to do this while retaining firepower to invest at a promising time for value creation."

Molten Ventures said it would not pursue equity fundraises for the foreseeable future due to the realisation profile of its portfolio, but aims to preserve a strong balance sheet to allow it "to quickly capture opportunities and be active in the marketplace".

The CEO said Molten would refocus on its "core business" of Series A and B investments.

Wilkinson said: "We have realised over GBP150 million this financial year bringing our total realisations to over GBP640 million. We are focused on portfolio development and facilitating a pipeline of realisations, which puts us in a fantastic position to continue investing through cycles to create strong vintage performance.

"We are well positioned to take advantage of the current need for more investment at Series B in Europe and my strategic priorities aim to deploy our experienced investment team and strong financial position to the best effect possible, while always exercising discipline in capital allocation."

A barrel of Brent fell to USD76.27 early Wednesday, from USD76.81 at the London equities close on Tuesday. Gold faded to USD2,893.11 an ounce from USD2,906.30.

[master rsi] 12/2/2025 08:31

BOOM 520p +35p

Already well up from the start,

[master rsi] 12/2/2025 08:20

FTSE

Only up by 1 point but FTSE 250 much better with 82 points higher

[master rsi] 11/2/2025 23:40

BOOM 485 v 490p +37.50p (8.33%) - UT of 485p

[master rsi] 11/2/2025 23:29

Oil prices climb to 2-week high on supply worries, US tariffs check gains

Oil prices edged up to a two-week high on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies and on rising Middle East tensions, outweighing worries that trade tariffs would boost inflation and dampen global economic growth.

Brent futures rose $1.13, or 1.5%, to settle at $77.00 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.00, or 1.4%, to settle at $73.32.

That put both crude benchmarks up for a third day and at their highest closes since Jan. 28.

"With the U.S. bearing down on Iranian exports and sanctions still biting into Russian flows, Asian crude grades remain firm and underpin the rally from yesterday,"