ACF Equity Research ACCURACY | CLARITY | FORESIGHT Preferred research provider OTC Markets, AQUIS, et al. See Sustainability/ESG OTC Webinar on our news page
London, England
Joined January 2014
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Dokwe's economics stand out. Ariana's May 2026 PFS estimates a post-tax NPV10 of US$740m, 92% IRR and 1.2-year payback at US$4,250/oz gold. Strong modelled returns, with US$164m of development capex still requiring a funding plan. Read how in
ACFResearch CIC bit.ly/AAU-CIC
@ArianaResources @LithiumPlz @Kuvimba_Mining
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
Ariana $AAU/ $AA2 owns Dokwe's 1.13Moz gold reserve. Its May PFS gives a US$740m post-tax NPV10 at $4,250/oz, £17.3m cash at 30 June funds WCAP. The next test is a firm plan to finance construction.
$AAU $CMCL $002240.SZ $FALF $603799.SS $IMP $NAMM $PHL $RIOZ $SSW $002738.SZ $THA $VAL $ZIM
Read our CIC here bit.ly/AAU-CIC
@ArianaResources @LithiumPlz @Kuvimba_Mining
@namibminerals @LithiumPlz @MetallonCorp @LtdMimosa17768 @CaledoniaMining @Implats @SIBSTILL @zimplats
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
ACF Equity Research retweeted
ACFMorningMeeting Shorts - UK consumer confidence fell 11 points to -24, its sharpest drop since the pandemic; September retail sales fell -0.4% MoM versus -0.1% consensus. ACFView: prefer overseas earners and defensives until spending data stabilise.
ACFMorningMeeting - Screeching halt! Consumers just hit the brakes - UK confidence plunged 11 points to -24 in October, its sharpest fall since the pandemic, while Sep retail sales fell -0.4% m/m vs. -0.1% consensus. The oil-and-borrowing-cost squeeze is moving from inflation data into household demand.
Opens - Pre-open $STOXX -0.07%, $FTSE +0.07%, $DAX -0.11%; $CAC latest -0.99%. UK-demand risk clouds $FTMC (FTSE 250). US futures: $DJI -0.29%, $GSPC -0.11%, $IXIC -0.02% after the Nasdaq cash index fell -2.6%.
Stock Watch - Safran $SAF.PA 3Q revenue €9.0bn, +13.4% organic, with aftermarket +18.7%; YE26 guidance held. Rio Tinto $RIO.L commits US$1.9bn to Kangwinan, adding 20Mtpa of bauxite capacity at an estimated c.22% IRR.
Commods - Brent $114.14/bbl +0.86%, WTI $100.50 +1.04% as Saudi attack risk persists. Gold Dec26 $4,037.20/toz -0.57%; copper $6.4633/lb +0.99%. Latest 22Oct: cocoa $5,607/MT -4.04%, sugar 20.13¢/lb -1.56%, coffee 311.40¢/lb -1.50%.
Data Focus - UK September retail sales -0.4% m/m versus -0.1% consensus; core sales -0.7%. October GfK confidence -24 versus -14 expected. UK, eurozone and US PMIs follow.
ACFView: Look overseas for EPS, look at defensives and proven cash conversion; avoid adding indiscriminately to UK consumer cyclicals until spending and PMI evidence stabilise. Do consider defence sector, sadly, we believe there is much to go here.
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR
@LondonSouthEast @BullsNBearsWA @ArthurBenta
@aimrns
ACF Equity Research retweeted
@avacta (AIM #AVCT) data suggests AVA6103's pre|CISION® platform recruits more FAP+ fibroblasts, leading to prolonged responses and potentially overcoming antigen loss issues seen with ADCs. The ongoing FOCUS-01 Phase 1 trial has shown proof of mechanism with a favorable safety profile and pharmacokinetic data aligning with preclinical models, with first efficacy data anticipated in H1 2027. share-talk.com/avacta-report…
@avacta (AIM #AVCT) announced positive preclinical data for AVA6103, a novel peptide-drug conjugate, demonstrating superior tumor response and disease control compared to Enhertu® in models of Enhertu®-resistant HER2+/FAP+ gastric tumors. share-talk.com/avacta-report…
ACF Equity Research retweeted
London stocks opened broadly unchanged on Friday as gains in energy giants Shell and BP helped offset pressure from the latest Wall Street technology sell-off, while oil prices remained near five-month highs amid escalating tensions in the Middle East.
The FTSE 100 was little changed at 10,727.92 in early trading, while the domestically focused FTSE 250 was similarly flat at 24,220.53.
Shell shares rose 0.8%, and BP gained 1.6%, benefiting from stronger crude prices as investors assessed the potential impact of further disruption to Middle Eastern oil supplies. 🔗 Read the full article here: share-talk.com/ftse-100-open…
London stocks are expected to open slightly higher on Friday despite another sharp sell-off in US technology shares. FTSE 100 futures indicate the blue-chip index will open six points, or 0.1%, higher at 10,730.43, following Thursday’s 27.85-point decline to 10,725.03. 🔗 Read the full article here: share-talk.com/ftse-100-set-…
ACF Equity Research retweeted
TWO companies account for over 40% of Nvidia earnings WHAT COULD GO WRONG 🫣
ACF Equity Research retweeted
Ofgem approves deal to preserve UK gas import links with Europe stockmark.it/ofgem-approves-…
Policy clarity matters for miners. Zimbabwe retained its 5% gold royalty for 2026, with 10% applying above US$5,000/oz, after withdrawing a proposed increase. Greater near-term certainty helps, but 30% US$ surrender rules and operating costs remain key considerations. #ACFThematicResearch bit.ly/Zimbabwe-ThematicNote
$AAU $CMCL $002240.SZ $FALF $603799.SS solana:9HNRV5FoULAJzwrJsxDymoSh6LX1VT5HAnrzvXSepump $NAMM $PHL $RIOZ $SSW $002738.SZ $THA $VAL $ZIM
@ArianaResources @LithiumPlz @Kuvimba_Mining
Zimbabwe’s economy looks steadier: ZiG inflation was 3.7% y/y in Sep and the IMF completed a second reform review. Gold deliveries hit a record 46.7t in 2025. But debt arrears persist. ACF view: some risk has eased; favour select well-funded gold miners over sovereign debt.
$AAU $CMCL $002240.SZ $FALF $603799.SS $IMP $NAMM $PHL $RIOZ $SSW $002738.SZ $THA $VAL $ZIM
Read our #ACFThematicResearch bit.ly/Zimbabwe-ThematicNote
@ArianaResources @LithiumPlz @Kuvimba_Mining
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
What separates promising climate-tech from investable climate-tech? Contracted or policy-backed revenue, verified IP ownership and credible funding for first-of-a-kind plants. With capital available but diligence tightening, proof of commercial viability could drive the next wave of investment.
#ACFThematicResearch bit.ly/Cleantech-FutureTechn…
@FirstSolar @Orsted @EnerSys @Lindeplc @NesteGlobal @UmicoreGroup @RollsRoyce @SchneiderElec @CarrierGlobal @Vestas @Novonesis @airliquidegroup @BakerHughesCo @enphaseenergy
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
Cleantech capital is abundant; proof is not. Currence: $26.1bn in 1H26 funding, but deals fell 25%; low-carbon data centres took 34%. ACF view: be selective in 2026. Solar and battery deals need contracted revenue and IP ownership; e-fuels and new storage still face scale-up risk.
$FSLR $ORSTED $ENS $LIN $NESTE $SLB $UMI $RR $SU $CARR
Read #ACFThematicResearch bit.ly/Cleantech-FutureTechn…
@FirstSolar @Orsted @EnerSys @Lindeplc @NesteGlobal @UmicoreGroup @RollsRoyce @SchneiderElec @CarrierGlobal @Vestas @Novonesis @airliquidegroup @BakerHughesCo @enphaseenergy
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
Strategic transformation - From minority holdings to a focused gold developer. Ariana Resources is reshaping its portfolio around 100%-owned Dokwe in Zimbabwe, while retaining a 9.9% interest in Turkey's producing Tavşan mine. A simpler strategy with a clear development focus.
Read our ACFResearch CIC bit.ly/AAU-CIC @ArianaResources @LithiumPlz @Kuvimba_Mining
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
Ariana $AAU/ $AA2 owns Dokwe's 1.13Moz gold reserve. Its May PFS gives a US$740m post-tax NPV10 at $4,250/oz, £17.3m cash at 30 June funds WCAP. The next test is a firm plan to finance construction.
$AAU $CMCL $002240.SZ $FALF $603799.SS $IMP $NAMM $PHL $RIOZ $SSW $002738.SZ $THA $VAL $ZIM
Read our CIC here bit.ly/AAU-CIC
@ArianaResources @LithiumPlz @Kuvimba_Mining
@namibminerals @LithiumPlz @MetallonCorp @LtdMimosa17768 @CaledoniaMining @Implats @SIBSTILL @zimplats
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
ACF Equity Research retweeted
The UK's battery pipeline faces an oversupply challenge. NESO prioritises 34.5GW for grid connection by 2030, against estimated demand of 23–27GW. That's 28–50% more capacity than needed. Grid access, timing and revenue assumptions will be crucial.
#ACFThematicResearch bit.ly/Cleantech-FutureTechn…
@FirstSolar @Orsted @EnerSys @Lindeplc @NesteGlobal @UmicoreGroup @RollsRoyce @SchneiderElec @CarrierGlobal @Vestas @Novonesis @airliquidegroup @BakerHughesCo @enphaseenergy
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
Cleantech capital is abundant; proof is not. Currence: $26.1bn in 1H26 funding, but deals fell 25%; low-carbon data centres took 34%. ACF view: be selective in 2026. Solar and battery deals need contracted revenue and IP ownership; e-fuels and new storage still face scale-up risk.
$FSLR $ORSTED $ENS $LIN $NESTE $SLB $UMI $RR $SU $CARR
Read #ACFThematicResearch bit.ly/Cleantech-FutureTechn…
@FirstSolar @Orsted @EnerSys @Lindeplc @NesteGlobal @UmicoreGroup @RollsRoyce @SchneiderElec @CarrierGlobal @Vestas @Novonesis @airliquidegroup @BakerHughesCo @enphaseenergy
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR @LondonSouthEast @BullsNBearsWA @ArthurBenta
ACF Equity Research retweeted
ACFMorningMeeting - Screeching halt! Consumers just hit the brakes - UK confidence plunged 11 points to -24 in October, its sharpest fall since the pandemic, while Sep retail sales fell -0.4% m/m vs. -0.1% consensus. The oil-and-borrowing-cost squeeze is moving from inflation data into household demand.
Opens - Pre-open $STOXX -0.07%, $FTSE +0.07%, $DAX -0.11%; $CAC latest -0.99%. UK-demand risk clouds $FTMC (FTSE 250). US futures: $DJI -0.29%, $GSPC -0.11%, $IXIC -0.02% after the Nasdaq cash index fell -2.6%.
Stock Watch - Safran $SAF.PA 3Q revenue €9.0bn, +13.4% organic, with aftermarket +18.7%; YE26 guidance held. Rio Tinto $RIO.L commits US$1.9bn to Kangwinan, adding 20Mtpa of bauxite capacity at an estimated c.22% IRR.
Commods - Brent $114.14/bbl +0.86%, WTI $100.50 +1.04% as Saudi attack risk persists. Gold Dec26 $4,037.20/toz -0.57%; copper $6.4633/lb +0.99%. Latest 22Oct: cocoa $5,607/MT -4.04%, sugar 20.13¢/lb -1.56%, coffee 311.40¢/lb -1.50%.
Data Focus - UK September retail sales -0.4% m/m versus -0.1% consensus; core sales -0.7%. October GfK confidence -24 versus -14 expected. UK, eurozone and US PMIs follow.
ACFView: Look overseas for EPS, look at defensives and proven cash conversion; avoid adding indiscriminately to UK consumer cyclicals until spending and PMI evidence stabilise. Do consider defence sector, sadly, we believe there is much to go here.
@WizardBattery @EU_Startups @Share_Talk @ZaksTradersCafe @zakmir @VOXmarkets @focusIR
@LondonSouthEast @BullsNBearsWA @ArthurBenta
@aimrns
ACF Equity Research retweeted
Meta grants Zuckerberg new shares to offset potential California tax stockmark.it/zuckerberg-wins…
ACF Equity Research retweeted
@DyadicInc's President & Chief Operating Officer, Joe Hazelton, highlights European and Asian opportunities for protein production.
#biotechnology #Biomanufacturing #LifeSciences #AlternativeProteins #PrecisionFermentation $DYAI
youtube.com/shorts/aQf8Rteln…
ACF Equity Research retweeted
Mineral explorer @flagshipmineral has sweetened the terms of its high-grade Rosario #copper project acquisition in Chile, extending its option and halving the final payment to US$1 million.
$FLG #BULLSNBEARSWA #ASX @theage
theage.com.au/business/compa…
ACF Equity Research retweeted
Read it here: bit.ly/3WpJ7Vg
The Bulls N' Bears Public Companies Chronicle is LIVE!
In this edition: Amplia uncovers new clue in pancreatic cancer drug trial
Subscribe: tinyurl.com/3w5busw4
#PublicCompanies #ASX #BullsNBearsWA #BullsNBearsChronicle
ACF Equity Research retweeted
This chart is a great reminder of the setup likely ahead for Brazilian equities.
One of the cheapest markets worldwide, both relative to others and to its own history.
Game on.
tavicosta.substack.com/p/ech…
ACF Equity Research retweeted
Rather than turning mercury into tiny amounts of gold at an absurd cost, maybe we should develop technology that turns politicians into people who can balance a fiscal budget.
Last month, we demonstrated high-rate alchemy: turning mercury into real, stable gold, beating CERN’s record by a factor of 10.
Last week, we enriched isotopes in the world’s most powerful plasma centrifuge, beating the Soviet record that stood for 40 years.
Now, we’re building a fusion reactor in San Francisco to achieve record power density.
ACF Equity Research retweeted
The muted response of the dollar was arguably the most important thing today.
So much for the idea that every selloff sends investors rushing into the US dollar because liquidity becomes king.
Treasuries aside, the dollar would normally have caught a strong bid during a selloff like this.
Instead, against several currencies, it went the other way.
Yes... it’s only one day…. but it deserves attention.
tavicosta.substack.com/p/mac…
