The mineral resource estimate for the Empire Metals Pitfield titanium project has more than tripled, with the company disclosing a total of 8.16 billion tonnes at 4.3% TiO₂ for 349 million tonnes of contained TiO₂. On the same session, Vast Resources (LON: VAST) shares returned from suspension after completing its reverse takeover of Gulf International Minerals.
Vast Resources Returns to AIM After Gulf International Minerals Deal
Vast Resources shares resumed trading on 19 August 2026 following the completion of its reverse takeover, according to the London Stock Exchange. The shares jumped 50% to 4.5p on readmission.
The sellers now own 80.2% of the enlarged company. The deal gives Vast a 49% interest in the Aprelevka joint venture, which holds four mining licences in the Tien Shan gold belt in Northern Tajikistan: Aprelevka, Burgunda, Ikkizelon and Kyzylcheku, plus a central processing plant and two tailings storage facilities. The assets currently produce 11,000 ounces of gold and 130,000 ounces of silver annually from mining and tailings operations.
Historical, non-JORC-compliant estimates for the Gulf International Minerals assets point to a potential mineral inventory of between 179,000 and 782,000 ounces of gold and 28.7 million to 51.5 million ounces of silver across the various deposits, according to Investing.com.
Vast has been managing the Aprelevka operation since January 2024 under a profit-sharing arrangement, which the acquisition now supersedes. The deal constitutes a related party transaction under AIM Rule 13: directors Andrew Prelea and Paul Fletcher hold 17.08% and 5.00% stakes respectively in Bay Square Pacific Ltd, the seller of Gulf International Minerals. Creditors A&T Investments SARL and Mercuria Energy Trading SA extended their repayment terms to 30 January 2026 in connection with the transaction.
To fund the deal, Vast raised £7.8m at 6.25p per share, following a 1-for-25 reverse share split that took effect before the market open on 19 August 2026.
Empire Metals Pitfield Titanium: Scale of the Discovery
Empire Metals (LON: EEE) says the updated JORC mineral resource estimate for its 70%-owned Pitfield project confirms it as the largest titanium resource in the world. The overall estimate of 8.16 billion tonnes at 4.3% TiO₂ includes a first Measured Resource of 374 million tonnes at 5.8% TiO₂, which generates 21.6 million tonnes of contained titanium in that category alone, according to the company’s August 2026 corporate presentation. The estimate is reported above a 2.5% TiO₂ cut-off and is constrained to a pit-shell covering the Thomas and Cosgrove deposits.
The upgrade represents a substantial step up from the maiden JORC MRE announced in October 2025, which totalled 2.2 billion tonnes at 5.1% TiO₂ for 113 million tonnes of contained TiO₂, according to StockTitan.
The Measured Resource is sufficient to advance to mine planning. Zeus raised its fair value estimate for Empire Metals shares from 84p to 144p on the near-surface zone alone, which contains 194.5 million tonnes of TiO₂. The EEE share price rose 7.08% to 49.15p.
Separately, Empire Metals has produced a high-purity TiO₂ grade of 99.25% from Pitfield material, which the company says is suitable for titanium sponge or pigment production.
Scancell Clears Phase 3 Regulatory Hurdles for Melanoma Drug
Scancell Holdings (LON: SCLP) received UK Medicines and Healthcare products Regulatory Agency (MHRA) clinical trial authorisation for the Phase 3 registrational trial of iSCIB1+ in advanced melanoma. The trial will enrol 550 patients across approximately 90 sites in the US, EU, UK, Canada and Australia.
The US Food and Drug Administration (FDA) cleared the Investigational New Drug application in January 2026 and also granted iSCIB1+ Fast Track Designation. In the Phase 2 SCOPE trial, iSCIB1+ achieved progression-free survival of 77% at 20 months in the target population, against 43% at 20 months for ipilimumab plus nivolumab alone, according to a Scancell press release. Regulatory submissions are in progress in the EU, Canada and Australia.
Scancell has also secured up to US$25 million in debt financing to support Phase 3 development, according to Taiwan News. The trial is expected to start by end of 2026, with initial progression-free survival data targeted for the second half of 2028, according to the Scancell MHRA announcement. The SCLP share price rose 2.11% to 9.7p.
Other Movers
Engineer Amcomri Group (LON: AMCO) reported interim revenues one-third higher at £42.4m, with EBITDA up 9% to £4.7m. The disposal of Premier Limpet cut net debt to £2.9m. The full year pre-tax profit is expected to improve from £5.3m to £5.6m despite the loss of Premier Limpet’s contribution. The share price edged up 0.79% to 127p.
RentGuarantor (LON: RGG) raised £70,000 from the exercise of warrants at 17.5p each. The share price gained 1.64% to 62p.
Consumer electricals supplier Ultimate Products (LON: ULTP) reported revenues 3% lower at £145m for the year to July 2026, with pre-tax profit falling from £7.3m to £5.4m. The share price declined 4.48% to 53.3p.
Tekcapital (LON: TEK) said investee company Vesari Inc filed a twelfth patent application, extending predictive optical communications patents into low earth orbit operations. The share price slipped 3.85% to 3.75p.
Gana Media Group (LON: GANA) appointed Lorenzo Caci as chief operating officer to oversee its iGaming businesses. The share price fell 2.5% to 0.0975p.
For Empire Metals, the binary near-term event is the progression of the Pitfield project into formal mine planning: any scoping study or preliminary economic assessment will be the next test of whether the world’s largest titanium resource can translate into a viable operation.
