The GoldStone Resources subscription by Persistence Gold Group will issue 351,594,899 new ordinary shares at 1.0 pence each, raising £3.51m to fund a drilling programme at the Homase mine in Ghana. GRL shares jumped 22.7% to 0.675p, still well below the subscription price.
GoldStone Resources Subscription: Ghana Drilling in Focus
The cash will enhance the JORC mineral resource at Homase, covering exploration and mine planning. Persistence Gold, which currently holds 20.96% of GoldStone Resources (LON: GRL), retains the right to appoint one director for as long as its stake exceeds 15%. Strand Hanson has been appointed broker.
The GoldStone Resources subscription was disclosed in a London Stock Exchange regulatory filing dated 12 July 2026.
Phoenix Copper Fundraise Weighs on Shares
Phoenix Copper (LON: PXC) announced a £2.3m placing at 0.5p per share, with a retail offer planned that could raise a further £500,000. The share price fell roughly three-fifths to 0.44p.
Proceeds will repay short-term debt owed to Indigo Capital, currently standing at $1.564m, and cover ongoing costs and detailed engineering at the Empire copper project in Idaho.
The fundraise comes against a backdrop of prior Indigo Capital activity: in January 2026, Indigo converted $536,000 of a $2.1m convertible loan note into 26,981,814 Phoenix Copper shares at 1.483 pence per share, according to a company update filed via Investor Meet Company.
The Empire Open-Pit mine carries Proven and Probable reserves of 10.1 Mt, containing approximately 109.5 million lbs of copper, 104,000 oz of gold, and 4.65 million oz of silver, based on an 80% ownership basis, according to a Phoenix Copper corporate update published in April 2026.
A pre-feasibility study for the Empire Open-Pit mine, published by Phoenix Copper on Investegate, shows a pre-tax net present value of $87.86m at a 7.5% discount rate, a 46.4% internal rate of return, and cumulative net free cashflow of $152.98m over an eight-year open-pit mine life.
Knights Group Posts Record Revenues
Legal services provider Knights Group Holdings (LON: KGH) reported full-year revenues up 28% to £207.7m and pre-tax profit 19% higher at £33.2m, according to results reported by ADVFN. The total dividend rose 17% to 5.63p per share.
Underlying EBITDA climbed 11% to £42.9m. The group added 247 fee earners through acquisitions over the period. Net debt ended the year slightly higher at £65.4m, with acquisitions funded by cash generation. Pre-tax profit is forecast to reach £36.4m this year.
The share price rose 3.465p to 194.5p, having briefly touched 198p during the session.
Other Movers
Outsourced surgery provider One Health Group (LON: OHGR) posted full-year revenues of £31.6m, up 11%, with pre-tax profit rising from £1.9m to £2.7m. Estimated capital expenditure this year is £8.5m as a new surgical hub is built. Net cash is expected by end of March 2027, and forecasts do not yet include any contribution from the new hub, leaving upside from 2027-28 onwards. The share price rose 3.09% to 250p.
Oriole Resources (LON: ORR) reported drilling results from the MB01-S deposit at its 50%-owned Mbe gold project in Cameroon, showing northern, western and southern extensions to the geological model. An updated mineral resource estimate is expected in the third quarter. The share price gained 2.7% to 0.38p.
Fiinu (LON: BANK) fell 4.76% to 5p after former Everfex chief executive Karol Oleksa, acting on behalf of seller Granicus Holdings, wrote to major shareholders criticising Fiinu management over its 2025 loss. Fiinu is suing Granicus over alleged breaches of restrictive covenants and seller warranties; the claims are valued at £16m.
Restructuring and property advisory business BTG Consulting (LON: BTG) reported full-year pre-tax profit up to £25m from £23.5m, with organic revenue growth of 8%. Net debt stood at £1m at the end of April 2026. Canaccord Genuity raised its pre-tax profit forecast to £26.5m. The share price fell 4.7% to 111.5p.
Seascape Energy Asia (LON: SEA) slipped 1.69% to 87.5p after disclosing that executive chairman James Menzies is taking a three-month medical leave of absence following a cycling accident.
Phoenix Copper’s next catalyst is securing sufficient funding to progress detailed engineering at Empire; the placing and retail offer results will determine how much of that programme can begin this year.
