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TRADING UPDATES: Futura Medical says 2025 revenue beats own guidance

ALN

The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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Aterian PLC - London-based critical mineral exploration and development company with projects in Botswana, Morocco and Rwanda - Confirms presence of highly saline, alkaline, sodium-rich brines across Sua Pan bring project in Botswana. ‘These results introduce a potentially attractive industrial minerals development pathway, alongside continued evaluation of the basin for various critical minerals,’ it says. ‘This programme has materially advanced our understanding of the Sua Pan basin. The identification of strongly soda-type brine chemistry is highly encouraging and opens a potentially attractive opportunity for industrial minerals development,’ says Executive Chair Charles Bray. ‘Soda ash is a globally important chemical feedstock, and natural brine-hosted systems can offer compelling development economics. These results allow us to assess Sua Pan through a broader, value-focused lens as we consider the next phase of work and evaluate potential development or strategic outcomes for the project.’ On Thursday, the company announced ‘encouraging’ surface sample results from its Agdz Est copper-silver project in Morocco. It identified multiple mineralised fault zones hosting copper and silver, which it added ‘materially enhances the company’s confidence in advancing Agdz towards drill evaluation.’

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Futura Medical PLC - Guildford, Surrey-based developer of sexual health products - Expects to report 2025 revenue of £1.7 million, which it says is higher than previously guided expectations of between £1.3 million and £1.4 million. It would be down from £13.9 million in 2024 and lower than £3.1 million in 2023. Revenue in 2024 included milestone payments of £7.1 million. Futura Medical says net cash at December 31 was £3.4 million, down 48% from £6.6 million a year prior. The company says under an existing agreement, subject to the granting of a US patent for Eroxon, it expects to trigger a milestone payment from Haleon for $2.5 million during the first half of 2026. Eroxon is a topical gel designed to treat erectile dysfunction in men. Futura Medical anticipates it will conclude its strategic review in the first quarter of 2026. The firm expects to publish 2025 results in mid-April.

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Gem Diamonds Ltd - Lesotho-focused diamond miner - Says all operation metrics for 2025 are within or ahead of its revised guidance. It recovers 20,961 carats in the fourth quarter, resulting in a total of 90,354 carats for 2025, compared to 105,012 for 2024. It notes that after the end of the year, a 193 carat white type two diamond was recovered.

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Goldstone Resources Ltd - Ghana-focused gold explorer - Confirms that gold production continued into 2026, with a gold pour of around 12 kilograms of dore, equivalent to around 385 ounces, completed st the end of January. Mining has started on the near-surface oxide material from Pit 3 of the Homase mine, Goldstone adds. Chief Executive Officer Emma Priestley says: ‘We are pleased to have started 2026 with continued gold production and a successful dore pour at the end of January. We look forward to providing updates as operations progress, and we are reviewing our corporate social responsibility programme to ensure our engagement with local communities remains meaningful, transparent, and aligned with both current and anticipated operational realities and community needs.’

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Tertiary Minerals PLC - mineral development firm with projects in Zambia, the US state of Nevada, and Sweden - Reports highest grade silver-copper intersection to date at target A1, at the Mushima North project in Zambia. It reports intersections including 97 metres at 85 grams per tonne silver equivalent. Target A1 is a silver-copper-zinc prospect located east of the historic Kalengwa copper-silver mine. ‘We are delighted to report these results from the four holes of our Phase 3 drilling programme conducted at the start of the rainy season late last year. These results include our best intersection of silver-copper mineralisation to date on this project, says Managing Director Richard Belcher.

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