(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Physiomics PLC - Oxford, England-based mathematical modelling company supporting the development of new therapeutics and personalised medicine solutions - Signs new contract with long-standing client Numab Therapeutics AG, a biopharmaceutical company focused on the discovery and development of next-generation multispecific antibody-based therapeutics for inflammation and oncology. Under the new contract, Physiomics will develop a mechanistic pharmacokinetic-pharmacodynamic modelling framework to support proof-of-concept activities for a new programme within Numab Therapeutics' oncology pipeline. Physiomics will apply quantitative approaches to interpret emerging data, optimise experimental design and development strategy, and inform key go/no-go decision-making. "This project further strengthens Physiomics' established collaboration with Numab Therapeutics and highlights the ongoing integration of model-informed approaches to support strategic decision-making across Numab Therapeutics' pipeline," company says. The project is expected to commence in April 2026 and complete in the third quarter of 2026.
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Enwell Energy PLC - Ukraine-focused oil and gas exploration and production company - Updates on its operational activities in Ukraine including the Mekhediviska-Golotvshinska, Svyrydivske and Vasyschevskoye gas and condensate fields and the Svystunivsko-Chervonolutskyi exploration licence. During the first quarter, the MEX-GOL, SV and VAS production licences remained suspended, with legal proceedings ongoing. Elsewhere, development planning is continuing at the SC exploration licence area, including planning for the drilling of the SC-5 exploration well, and for the installation of new gas processing facilities and other surface infrastructure. Enwell is also assessing the feasibility a connection to existing gas processing facilities. Additionally, temporary gathering, separation and compression equipment is being installed. This will enable "gas and condensate from the SC-4 well to be separated, the gas compressed at site, and then trucked to the company's gas processing facilities at its MEX-GOL and SV fields for treatment and sale," Enwell says. "In general, the operating environment in Ukraine remains very challenging. The company continues to be cautious and vigilant with its ongoing activities and is taking the appropriate measures available to protect and safeguard its personnel and business," Enwell adds. At March 31, cash resources total USD93.3 million, comprised of USD78.8 million equivalent in Ukrainian Hryvnia and the balance of USD14.5 million equivalent in a combination of USD, GBP and EUR.
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Spiritus Mundi PLC - special purpose acquisition vehicle focused on the clinical diagnostics sector in Europe and Asia - Enters into amended heads of terms to reflect that it only proposes to acquire the entire issued share capital of Restalyst Pte Ltd, of which director Zaccheus Peh is a significant shareholder, therefore Peh has not participated in the Spiritus Mundi board resolution to approve the amended heads of terms. Spiritus Mundi says it is in the process of raising additional funds to facilitate completion of the proposed acquisition and the publication of its 2025 report.
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Theracryf PLC - Cheshire, England-based pharmaceutical firm focused on cancer and brain disorders - Rejects a conditional, non-binding, indicative proposal regarding the potential acquisition of TheraCryf's lead neuropsychiatry assets, namely the Orexin-1, and dopamine transporter programmes. Comments: "Following careful consideration, the board unanimously concluded that the indicative proposal did not reflect the current or future value of the assets and was therefore not considered to be in the best interests of the company and its shareholders. Accordingly, the board rejected the Indicative Proposal and has terminated these recent discussions."
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Cobra Resources PLC - South Australian mineral exploration and development company - Reports results from a further 12 reverse circulation drillholes from the Blue Rose copper-gold-molybdenum discovery and associated targets within the Manna Hill Copper Project, located in the Nackara Arc, South Australia. Highlighted results from drillhole MHRC0013 include: 62 metres at 1.0% copper and 0.08 grams per ton gold from 62 metres, including: 30m at 1.56% copper and 0.14 g/t gold from 66m, including: 16m at 1.92% copper and 0.23 g/t gold from 74m. Comments: "Considering the copper market, the board considers the grade, width and depth profile of results to date to be highly encouraging from an economic standpoint. The upcoming diamond core drilling programme is designed to establish the geological parameters required to advance economic assessment." Rupert Verco, managing director adds: "Copper prices have reached multi-year highs in 2026, reflecting structural deficits driven by electrification demand and tightening supply. Against this backdrop, these drilling results provide further compelling evidence for the value proposition within the Manna Hill Copper Project."
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Altona Rare Earths PLC - Africa-focused resource exploration and development - Identifies heavy rare earths elements enrichment in the Monte Muambe fluorspar and gallium ore. Under the on-going fluorspar and gallium mineral resource estimate preparations, Altona has assayed control samples for a broad range of trace elements, including rare earths. These samples comprise blended ore from the Python target containing 31% calcium fluoride and 108 g/t Gallium(III) oxide. Assay results show that these samples contain around: 3,200 parts per million total rare earths oxide and 1,300 ppm heavy rare earths Oxide. "This corresponds to a HREO/TREO ratio of 40%, significantly higher than that of the Monte Muambe rare earths deposit (Target 1 and Target 4), which hosts a JORC-compliant MRE of 13.6 million tons at 2.42% TREO and is predominantly enriched in light rare earths such as neodymium and praseodymium, with a HREO/TREO ratio of approximately 5%," Altona says. Adds: "Notably, individual heavy rare earths concentrations in the Monte Muambe fluorspar and gallium ore sample are of a similar order of magnitude to those reported in the resource statement of the Lofdal (Namibia) heavy rare earths project." CEO Cedric Simonet says: "Our immediate focus is to better understand the mineralogical characteristics and metallurgical behaviour of these elements, with a view to determining whether they can be economically recovered as part of the fluorspar processing flowsheet."
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Forgent PLC - London-based provider of syngas technology and engineering services for converting waste into sustainable energy and biofuels, formerly Eqtec PLC - Partially exercises its option to acquire a 51% interest in the Peak Hills gold-copper exploration project in Western Australia. CEO James Parsons says: "This is a decisive step forward for Forgent, adding a second high-quality, near-term exploration opportunity. Combined with our materially reduced cost base and revenue generating gasification business, this marks a clear acceleration in momentum and focus on delivering growth in shareholder value." The balance of 48% of Peak Hills remains under option to the company, extended for a further five months. The exercise of the option is conditional upon the completion of a placing which aims raise GBP1.3 million gross through the issue of 8.67 billion new shares, representing 34% of its share capital, at an issue price of 0.015 pence per share. Consideration payable for the 51% stake is USD1.2 million which will be satisfied through USD206,060 in cash and USD974,611 through the issue of 4.81 billion new shares at the placing price. Forgent previously paid an option fee of USD13,514 in cash to secure the exclusive option over 99% of the project.
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Beacon Energy PLC - Isle of Man-based upstream oil and company with operations ranging from Europe, Africa to east Asia - Beacon CEO Stewart MacDonald will join the board of directors of LNEnergy following the completion of Beacon's strategic investment in the company. Additionally, Beacon confirms that LNE IOM Ltd, of which it holds 49%, has acquired additional shares in LNEnergy through a rights offering conducted by LNEnergy to raise up to GBP780,000. Given the full participation of other LNEnergy shareholders in the rights offering, LNE IOM Limited's shareholding in LNEnergy remains approximately 48%. Beacon's shareholding in LNE IOM Ltd is expected to rise to 100% following the satisfaction of certain conditions, including the award of the production concession expected in mid 2026.
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Panther Metals PLC - Canada-focused mineral deposits exploration company - Reports the third batch of Vibracore sample assay results for the Winston Tailings Project near Schrieber, Ontario, Canada. The Vibracore tailings sampling is in support of the mineral resource estimate programme, the first of a series of ongoing workstreams progressing to quantify, evaluate and permit the contained high-grade gold, gallium, silver, zinc, copper, indium cobalt, and other recoverable minerals located within the historic Winston Lake Mine tailings storage facility. Says results "continue to show good grade consistency across the vertical depth-profile and laterally between Vibracore hole collar locations, and support or exceed the 2025 preliminary assay results". CEO Darren Hazelwood adds: "The Batch 3 Vibracore assay results continue to highlight the strong production potential offered by the Winston Tailings Project. We are consistently confirming the continuity of mineralisation within the tailings, which closely aligns with our expectations based on our review of the historical production data from the Winston Lake Mine."
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By Aidan Lane, Alliance News reporter
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