Sky News: The UK economy has grown, confounding predictions it would shrink, official figures show. A key measure of economic growth - gross domestic product (GDP) - rose 0.1% in August, according to the Office for National Statistics. GDP measures everything produced in an economy and had been forecast by numerous economists to fall between 0.1% and 0.3%.
Comment: It is amazing that a 0.1% GDP growth figure is regarded as something of a victory. It is certainly a victory for the Chancellor who will have a little more room to raise say £30bn to £50bn in tax in his maiden Budget. One can only wonder what the measly 0.1% figure would be without the record tax burden and reams of red tape on business?
The Telegraph: Half of Britons say there are no circumstances in which they would go to war for their country, a poll has found. While the pollster Ipsos found strong backing for increased defence spending, some 48 per cent said there was no situation in which they would take up arms.
Comment: One is surprised that it is only half the country who would not fight. Given the impression given over the past year that the State knowingly has done exactly the opposite of what the people wanted over the past decade and more, going to war in its defence is certainly not going to happen.
Medpal (MPAL): Eli Lilly, the exclusive supplier of GLP-1 Mounjaro, has confirmed that New Health has risen from 3,048th to 29th place in its supplier list (by volume supplied). This has taken approximately three months since the Company's initial marketing campaign began. MPAL said "From 3,048th to 29th in three months. Eli Lilly's own ranking confirms the scale of what New Health has built since July. We now have more than 42,500 customers, representing approximately two per cent. of the UK's GLP-1 users. Two weeks ago we said repeat orders would grow as customers reached their first reorder date. They now make up over 30 per cent. of New Health revenue, up from 22 per cent. in September, with no acquisition cost attached. Our ambition is to be a top three UK GLP-1 provider. The expanded line at Sarus Court opens this month with capacity for 14,000 orders a day. This is what the Health OS was built for, and it is only the beginning."
Comment: You don’t need a weatherman to tell you which way the wind is blowing, and you certainly do not need Eli Lilly to tell you how well MPAL’s New Health is doing. That said, it is a stellar performance and although the shares have done well of late, one could argue that they should and could do even better in the near term, bolster by news like today’s.
Anglesey Mining plc (AYM) , the UK-based mineral exploration and development company advancing the 100%-owned Parys Mountain copper-zinc-lead-silver-gold volcanogenic massive sulphide ("VMS") project in Anglesey, North Wales, the UK's largest polymetallic VMS project, provides an update on its Develop, Grow and Discover strategy. Recent highlights include William Sale Partnership Ltd. appointed as planning consultant; working objective of a modern planning consent within approximately two years, subject to supporting work, consultation and determination. Systematic exploration drilling programme being outlined to test links and extensions between the Engine/Deep Engine, NCZ and Garth Daniel systems, with results to contribute to future Mineral Resource Estimate ("MRE") work. Advanced technical studies programme expected to run for approximately 18 months, subject to defined and funded scopes. pXRF analysis of historical drill core and Leapfrog Geo model validation under way. Assessing early dewatering and controlled access to the Morris Shaft.
Comment: Under new management is the main win here at AYM, and the fact that this is significant is shown by the list of recent highlights from the company. When you add in the way that the company clearly is fully embedded with the local community and we are looking at a significant prospect at Parys Mountain. The goal here for all concerned is to make Anglesey the new Cornwall.
Mindflair (MFAI), the AIM-quoted company focused on investing in Artificial Intelligence ("AI") related technology, announced that it has raised approximately £1.1 million at a price of 0.27 pence per share representing a 10% discount to the closing bid price on 14 October 2026. MFAI said, “We are pleased to have been able to raise over £1 million of new equity funding from a group of new and existing investors, which includes a significant new strategic investor. We have funded our investment activities for almost the last two years from realisations alone and this fundraising will allow us to continue to deploy capital in our exciting investment strategy and build our portfolio of AI focused companies.”
Comment: Is it AI or SI now? The main point here is congratulations to the company for being able to raise the annual cost of being on AIM and other sundry expenses. The main issue for MFAI and all other companies who are investing in AI is that no one has yet delivered for shareholders with this strategy – yet. The London market tends to value you on the basis of your worst investment, not your best, and unless you have access to £50m - £100m plus as a start, it is unlikely you will have the scale or the momentum to prevail. By the way, did MFAI not just buy Nvidia, Palantir, Micron, or Coreweave over the past year? If it had it would not need to be raising any money.
Quantum Helium Limited (QHE) provided an update on preparations for the next phase of stimulation and flow testing at its Sagebrush-1 helium discovery in Colorado, USA, where the Company holds a 90% working interest. Detailed engineering and operational planning for the larger-volume, propped fracture stimulation programme is now substantially complete, with the Company in the process of finalising the remaining technical and logistical arrangements ahead of field operations targeted to commence in November 2026. QHE said “We are making excellent progress towards the next phase of operations at Sagebrush and are now entering the final stages of preparation for what we believe will be a very important operational programme. Extensive engineering work has been undertaken alongside highly experienced fracture stimulation specialists to design a treatment that gives us the best opportunity to establish stronger, sustainable gas flow rates from the Leadville reservoir.”
Comment: It has been put to me that QHE is unusual in that unlike many of its peers who are just proving up helium and talking about what a supply chain shortage there is, it is getting on with the job of much needed production. Presumably the April £5m fundraise has gone a long way.
The Smarter Web Company (SWC) announced the purchase of additional Bitcoin as part of “The 10 Year Plan” which includes an ongoing treasury policy of acquiring Bitcoin. Details are as follows: Number of Bitcoin Purchased: 83 Bitcoin. Average Purchase Price: £62,676 per Bitcoin. Amount Purchased: £5,202,111. Total Bitcoin Holdings: 2,830 Bitcoin. Net Average Purchase Price: £81,979 per Bitcoin. Gross Bitcoin Purchases: £240,747,000.
Comment: What is interesting here is that SWC is sitting on £240m worth of Bitcoin, but has a market cap of £185m. Of course, it is sitting at a discount to NAV and of course, if you want to be exposed to BTC you might as well just by it yourself. But where’s the fun in that?
Ajax [AQUIS: AJAX], the natural resources investment company, provided an update on the Environmental Impact Assessment ("EIA") approval process for its Macacha Copper and Silver Project in Salta Province, Argentina, including the engagement of Andes Exploration and the appointment of its Chief Executive Officer, Leandro Sastre, as Qualified Person ("QP") for the Company's planned drilling programme of up to 5,000 metres, as well as the submission of an application to expand the Macacha Project through the addition of a new licence, Macacha IV. Sastre said, “Having reviewed the historical drilling results, geological models and proposed exploration programme, I am particularly encouraged by the copper and silver mineralisation identified at El Cobre and El Plomo. Historical drilling has returned significant copper grades over substantial intervals, including 49.18 metres at 1.477% copper and 47.53 metres at 1.082% copper, demonstrating the potential of the mineralised systems.”
Comment: Another update from AJAX underlining the strength of its portfolio and indeed the deal making that went on ahead of this. Now all that is left is for the stock market to fully value the assets the company is sitting on.
Technology Minerals Plc (MNTL) , the UK-listed company focused on building national resource and manufacturing resilience which trades as Mantle, announce that its 48.35% owned subsidiary, Recyclus Group, has secured a three-year agreement to recycle lithium-ion (“Li-ion”) batteries from a global automotive original equipment manufacturer. MTL said, “The contract nearly doubles Recyclus’ volumes with a corresponding increase in revenue. "
Comment: No mention of numbers as far as the contract is concerned, but why should one quibble about such minor details? The shares have rocketed in recent weeks, perhaps as much as in anticipation of today’s news as anything else. Indeed, it will be interesting to see whether we can hold onto the best of the gains.
Thruvision Group plc (THRU) , a leading provider of walk-through security technology announced that it has secured three further orders across its key target markets. THRU said, “We are pleased to have secured these three further orders, each supporting an important element of our growth strategy. In the UK, the orders demonstrate continued progress in retail distribution and the prison market, where our technology addresses distinct and important security screening requirements. Internationally, the purchase by our Asian partner for a new country is an encouraging step in extending our reach into an additional market. These wins demonstrate the breadth of demand for our technology and support our ambition to build sustainable growth across our target markets.”
Comment: Shares of THRU spiked hard in August off the back of “celebrity” investor buying, and even though they have backed off since then, today’s news allows us to understand what the fuss was all about. Indeed, given how important walk-through security is in preventing incidents, THRU is also in a massive growth area.