Strong first-half trading, a 26% gross margin and a £126 million potential repowering opportunity provide an increasingly visible platform for EGT's medium-term ambition of £50 million annual revenue and double-digit EBITDA margins.

United Oil & Gas has taken another tangible step towards the drill bit in Jamaica, commissioning an independent study into rig availability, drilling costs, long-lead equipment and regional logistics. Coming just days after strengthening its management team with a new COO, the work will focus on the giant Colibri and Thunderball opportunities and provide current operational data to support United as it pushes to conclude the Walton-Morant farm-out.

United Oil & Gas has strengthened its senior management team at a potentially pivotal moment for its Jamaican exploration story, appointing experienced upstream executive Donal Meehan as COO. With management now explicitly saying it is pushing to conclude the Walton-Morant farm-out, the appointment raises an interesting question for investors: is United putting the operational team in place for the licence's next phase?

East Star Resources is combining advanced copper assets with major industry partners and large-scale exploration potential across Kazakhstan — with an increasingly important difference: much of the heavy development spending could be funded by somebody else.

Blencowe Resources has delivered further successful battery testing for Orom-Cross graphite, opening potential markets spanning US military batteries, grid storage and data centres. Crucially, the programme could create a higher-value sales route for spheroidisation rejects representing approximately 30% of end product from its planned downstream beneficiation facility.

Central Asia Metals has delivered an outstanding first half, with EBITDA up 89%, profit before tax more than tripling and free cash flow almost trebling to $46.8 million. Record copper prices and improving operations have allowed CAML to increase its interim dividend by 78% to 8p per share, while its proposed Cygnus acquisition could add a substantial new copper growth engine to an already highly cash-generative business.