EARNINGS AND TRADING: Trafigura looks to exit Atalaya Mining holding
The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Nostrum Oil & Gas PLC - Kazakhstan-focused oil and gas exploration and production company - Reports 13% increase in revenue to USD72.6 million in the six months ended June 30 from USD64.1 million the year prior, driven by stronger brent crude oil prices, a higher oil export ratio and increased product volumes from Ural Oil & Gas LLP feedstock. The average brent crude oil price increases by 28% to USD92.2 per barrel from USD71.9/bbl. Earnings before interest, tax, depreciation and amortisation rises 16% to USD27.7 million from USD23.8 million, at a margin of 38.1%, improved from 37.1%. Generates USD22.6 million of operating cash flow versus USD10.0 million outflow a year ago, with a net increase in cash and cash equivalents of USD11.1 million against a net decrease of USD14.5 million last year. "The group remains focused on maximising facility uptime, controlling costs where possible and improving efficiencies across the business. At the same time, capital allocation remains disciplined and focused on preserving liquidity while assessing development opportunities across the asset base," it says.
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ECR Minerals PLC - Australia-focused gold exploration and development company - Raises a further £250,000 via an investment from an institutional investor. This follows recent placing which raised £636,250 at an issue price of 0.175 pence per share. Proceeds will advance ECR's 50%-held Maddens gold project in Northern Queensland.
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CML Microsystems PLC - Essex, England-based developer of mixed-signal, radio frequency and microwave semiconductors - Hails "encouraging momentum", following a positive final quarter ended March 31. "This progress has continued into the current financial year with firmer demand across all key market verticals. This uplift has supported trading, with the opening months delivering revenue in line with, and order intake ahead of, our expectations," Non-Executive Chair Nigel Clark says at the firm's annual general meeting. "The board remains confident in its growth strategy and a return to operational profitability now looks likely to be achieved earlier in the current financial year than previously expected."
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TMT Investments PLC - venture capital investor in high-growth technology companies - Net asset value per share is USD7.92 at June 30, up 11% from USD7.13 at December 31. This mainly reflects the USD25.6 million positive revaluation of its investment in Backblaze Inc. Given the "continued high level of market uncertainty and volatility", TMT says it maintained its "cautious" investment approach and made only one new investment, Nitra Inc, during the period. Nitra is an AI-native, all-in-one operating platform for healthcare practices and their back offices. "With no financial debt and strong cash reserves, TMT is well positioned to not only ride out the current market volatility, but also to continue making investments and realising full and partial disposals when the right opportunities present themselves," TMT says.
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Afentra PLC - Africa-focused oil and gas explorer and producer with interests onshore and offshore Angola - Provides an operational update on its offshore Angola portfolio, including the Pacassa SW drilling programme, Impala redevelopment programme and operated activities on Block 3/24. Reports a successful oil discovery at Pacassa SW, and says reservoir quality supports pre-drill estimates of 5,000 barrels of oil per day. At Ampala-1, production is re-established at around 3,000 bopd while at Impala- 2, a rig is expected to move to Impala-2 post Pacassa SW, with results expected at the end of the fourth quarter. At Block 3/24, says an "innovative" operating approach reduces survey cost by around 90%. "This progress, alongside the anticipated completion of the Etu acquisition, positions us exceptionally well to deliver sustainable, long-term value for our shareholders as we advance our world-class Angolan portfolio," says Chief Executive Paul McDade.
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Apertura Energy PLC - Jersey-domiciled energy acquisition company focused on Venezuela - Agrees to buy Conterp Group PLC, a growing, profitable and cash generative Brazilian oilfield services business with a 25-year operating history, and a forward work programme of signed contracts in excess of £100 million. Conterp is valued at £25 million on a cash free, debt free basis, 5.5 times adjusted Ebitda for the financial year ending December. Payment will be met 50% in shares, and 50% in cash. Apertura will raise up to £30 million through a placing to fund the deal and transition into Venezuela. Apertura believes the deal provides the proven operational capability, experienced teams, rigs and equipment that will significantly contribute to executing its strategy in becoming an exploration and production company in Venezuela. Conterp is currently 51% controlled by Apertura's Chair Scott Gilbert, and Chief Executive Officer, Greig Gilbert. As such, the deal will constitute a related party transaction under Financial Conduct Authority listing rules. Shares in Apertura Energy will be suspended while the deal is finalised.
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Atalaya Mining Copper SA - owner and operator of Spain's Proyecto Riotinto copper mine - Urion Investments Holdings Ltd, a member of the Trafigura group, intends to sell 16.8 million shares in Atalaya, around 10.9% of its share capital. On completion, Trafigura is expected to have exited its shareholding in Atalaya Mining in full. The shares will be offered by way of an accelerated bookbuild. JP Morgan SE is acting as sole global coordinator and joint bookrunner in connection with the placing. BMO Capital Markets Ltd is acting as joint bookrunner. At Tuesday's closing market value of £1.53 billion, the shares are worth around £167million. Atalaya earlier Tuesday reported revenue of EUR147.4 million for the second quarter of 2026, up from EUR124.1 million a year before. Copper production rose to 13,493 tonnes from 13,175 tonnes. All-in sustaining costs decreased to USD2.79 per pound payable from USD2.81, "despite the cost impact of the Middle East conflicts". Earnings before interest, tax, depreciation and amortisation rose to what Atalaya said was a record EUR78.2 million in the quarter, up from EUR55.1 million a year before. Pretax profit increased to EUR65.4 million from EUR38.3 million.
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