NB Private Equity Partners’ (LON:NBPE) mature portfolio, resilient 9% EBITDA growth and accelerated buyback plans are all in focus as Hardman & Co analyst Mark Thomas explains why realisations could improve despite short-term market noise. The discussion also covers dry powder, AI-driven efficiency gains, continuation funds, dividend policy and the key risks investors should watch.

Key Moments

00:04 — Mark Thomas joins to discuss NB Private Equity Partners
00:22 — Why the Hardman report sits behind a standard investment disclaimer
00:48 — The key message from Hardman’s latest NBPE results report
01:00 — 9% EBITDA growth underpins resilient portfolio performance
01:21 — Why NAV growth lagged EBITDA growth
01:36 — A mature portfolio and improving conditions for realisations
02:04 — Five drivers behind Hardman’s confidence in medium-term exits
02:12 — Why NBPE’s portfolio is exit-ready
02:23 — Dry powder and larger funds as natural buyers
02:57 — GPs face growing pressure to deliver liquidity
03:04 — How AI efficiency gains could support private equity returns
03:30 — Continuation funds and new exit routes
03:39 — Why realisations may remain lumpy quarter to quarter
04:09 — NBPE’s updated capital allocation framework
04:16 — Acceleration of the $120m buyback programme
04:26 — Increased allocation to new investments
04:41 — Dividend policy targeting at least 3% of NAV
04:53 — Further $120m allocated to buybacks in June 2026
05:04 — Buybacks total $240m over 15 months, equal to 19% of NAV
05:17 — Key risks facing NBPE and the listed private equity sector

A fresh hit of 27.2 metres at 1.69g/t gold has put Oriole Resources’ (LON:ORR) Mbe project back in focus, with CEO Martin Rosser pointing to “meaningful” resource growth once the remaining assays and updated mineral resource estimate land. With Mbe already standing at 1.23Moz across Mbe South and Mbe North, and BCM International now holding a 50% interest, the interview frames the next phase as a test of how much larger this Cameroon gold story can become.

Key Moments

00:05 — Martin Rosser joins to discuss Oriole’s latest Mbe step-out drilling results
00:23 — 27.2m at 1.69g/t gold and why it matters for Mbe South
00:43 — Rosser signals confidence in a meaningful resource increase
01:19 — Remaining assays expected by month-end
01:46 — Updated Mbe South mineral resource estimate targeted for early Q3
02:05 — Mbe’s current 1.23Moz resource base across South and North
02:23 — Mineralisation remains open in all directions and at depth
03:35 — Wider Mbe licence targets add further exploration upside
03:58 — BCM’s 50% interest and the formal joint venture nearing completion
04:10 — How BCM’s financial strength, African mining experience and rigs support the next phase
05:14 — Rosser thanks the field teams and looks ahead to further work

Cora Gold (LON:CORA) CEO Bert Monro explains why the company is launching a 12,000-metre drilling campaign at Sanankoro just as the project moves closer to construction. With Sanankoro fully funded to production, a 10-year reserve life already outlined and every deposit still open along strike and at depth, this interview sets out why Cora sees the next phase of drilling as a chance to optimise the mine plan, extend resources and test fresh targets across a large, underexplored gold system.Key Moments

00:15 — Cora Gold launches a 12,000-metre drill programme at Sanankoro
00:47 — Fully funded and moving towards construction and production
01:24 — What full funding means for exploration and long-term value
01:39 — 10-year reserve life, one million ounces of resources and open deposits
02:05 — Drilling window ahead of Mali’s wet season
02:26 — Why Sanankoro could grow beyond the current mine plan
03:18 — Zone B targeted for almost 40% of the planned drilling
03:46 — Infill drilling could connect Zone B deposits into larger pits
04:18 — Selin’s western zone and deeper extensions under the spotlight
04:47 — Transitional material at Selin could strengthen the mine plan
05:34 — Greenfield targets and new discovery potential
06:23 — Why Sanankoro may still have “an awful lot more to give”
06:56 — Large permit area underpins longer-term exploration upside
07:22 — Historical Goldfields data and earlier-stage targets to follow up
08:02 — FEED work begins as Sanankoro moves closer to construction