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The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: ---------- Tungsten West PLC - focused on Hemerdon tungsten mine in Devon, UK - Pretax loss widens to £22.2 million in the financial year to March 31, from £9.9 million a year earlier. Reports no revenue, compared to £722,036. Non-Executive Chair Stephen Harrison hails financial 2025 as ‘one of progress’ as the company made ‘meaningful steps towards reopening the Hemerdon tungsten and tin mine.’ The company expects to restart mining and processing operations late next year. Adds that it has undertaken a review of planned mining and processions operations under newly appointed Chief Executive Jeff Court’s leadership. CEO Court says: ‘The primary objective in this first period was to finalise a robust re-start plan for the Hemerdon mine that incorporates all the learnings from the prior operations under Wolf Mineral’s operation, in addition to drawing upon latest technologies, best practice, further test work programs and input from a range of experts. A significant amount, but not all, of this work has focused on addressing the shortcomings in the processing plant under prior operations, and I am pleased to say that our updated processing flow sheet and processing plant design incorporates a range of improvements that addresses these shortcomings.’ Tungsten further notes that following China’s export restriction in tungsten, implemented back in 2025, ‘market prices for APT have risen to above $500/mtu, further enhancing the economics of Hemerdon.’ ---------- Iofina PLC - Colorado, US-based iodine producer - Reports production of 74.3 metric tonnes of crystalline iodine at its IOsorb plants in August, representing the highest single month of iodine production. Notes that its plants are operating efficiency and have not been subjected to extreme weather conditions. Coupled with this, says the addition of IO#1 to Iofina Resources portfolio has contributed to the record production levels. Adds that its cash reserves have risen by $1.8 million, as it has reviewed employee retention tax credit refunds of current net funds and interest received that total over $1.8 million. ‘The group’s recent record production levels are a statement of the hard work by all our dedicated employees. Our commitment to keeping our employees in work during the COVID-19 pandemic has been recognised with tax credits of over $1.8m,’ says President & CEO Tom Becker. ---------- Avation PLC - Singapore-based commercial aircraft leasing company - Inks 12-year lease agreement with an unnamed airline in Cambodia for a new ATR 72-600 aircraft. Says the aircraft is the second of the series of 10 ATR 72-600s Avation ordered last year as part of its exercise of purchase rights under its long-term agreement with ATR, the aircraft manufacturer. Notes that the aircraft are set to be delivered in February next year. ‘We are pleased to confirm the addition of an additional airline and country to our customer base and congratulate them on the decision to select the ATR 72-600 on a long-term lease,’ says Executive Chair Jeff Chatfield. ---------- Kodal Minerals PLC - West Africa-focused mineral explorer and developer - Receives the export permit for the spodumene concentrate produced at the Bougouni lithium project in Southern Mali. Notes the project is being operated by Les Mines de Lithium de Bougouni SA, a local Mali-registered mining company. This is a subsidiary of Kodal Mining UK Ltd in which Kodal Minerals has a 49% stake. Says the exporter permit is approved for an initial 125,000 tonnes of spodumene concentrate, ‘subject to the continuation of final administrative steps for the export process.’ Adds that the off-take agreement finalised for the project utilises Shanghai Metal Market prices as the reference, with Kodal further stating that the project has inked a transportation contract with a ‘leading’ Malian transport company for the export of material from the site to the port in the Ivory Coast. ‘The granting of the export license is a critical step for the development of the Bougouni project as well as Mali’s burgeoning spodumene industry. The permit further underpins the continued support of the Mali Ministry of Mines and the government and their interest in the further development and expansion of Bougouni. Final administrative processes will be completed imminently and the mobilisation of the trucking fleet to site will commence as soon as possible,’ says CEO Bernard Aylward. ---------- Mast Energy Developments PLC - developer of reserve power generation plants - Signs an acquisition offer to acquire an already constructed 7-megawatt, 11-kilivolt flexible generation power site in England. Notes the sites proposed acquisition price of £350,000 and says it is located in an ‘attractive power demand area’ of the country. Adds that the site includes an existing long-term capacity market contract for 15 years at £60,000 per megawatt per year, amounting to total cumulative guaranteed gross profit income of around £6 million, with a delivery year start date of 2028. Says it will be looking to top this up with annual T-1 CM contracts in the meantime, on top of trading income via PPA with Statkraft. Whilst completion of the transaction is not certain, it expects it to complete in the fourth quarter of this year. ‘We are delighted with the offer to purchase this attractive site, which fits well into one of our three key growth strategies which has been proven at our Pyebridge site. The strategy to acquire existing already constructed sites have many benefits, most notably that it requires lower investment cost per MW and quicker timeline to income production,’ says Chief Executive Pieter Krugel. ---------- Concurrent Technologies PLC - Colchester, England-based designer and manufacturer of computer products for use in critical embedded applications - Secures ‘significant’ equipment programme contract with an unnamed, ‘prominent’ UK defence prime contractor, for an initial £4 million. Notes that it has the potential for expansion. This marks a record for the company, as its largest UK-based defence supply contract won to date. Under the contract, Conccurent will supply rugged single board computers that comply to the VME standard, custom-engineered from a standard product to meet the customer’s requirements. Says the initial deliver phase is through to 2028, with further orders expected to continue throughout the 2030s. ‘This is a VME architecture product that we have modified specifically for this customer to incorporate additional features, and securing this significant contract underscores our strategy of long-term commitment to the VME standard. I’m proud of our progress and we look forward to working with this customer for many years to come,’ says CEO Miles Adcock. ---------- Beeks Financial Cloud Group PLC - Glasgow-based cloud computing and connectivity provider for financial markets - Reports ‘significant’ private cloud wins, with it having secured over $7 million in new private cloud contracts in August. Says the latest wins span across many financial institutions in different geographies. Notes that revenue recognition will commence in the current financial year, supporting its financial 2026 expectations. Adds that strong August trading follows the record Proximity Cloud month recorded in June, representing continued contract momentum. ‘Demand for our offerings continues to build as financial institutions increasingly recognise the need for secure, high-performance infrastructure. These wins add meaningful contracted revenue for this year and reinforce our confidence in the Company’s ongoing growth prospects,’ says CEO Gordon McArthur. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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