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The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News: ---------- Blencowe Resources PLC - developing the Orom-Cross graphite project in Uganda - Updates net present value of its Orom-Cross graphite project in Uganda to $1.25 billion, up 15% from $1.09 billion initially, over the initial 15-year life of mine. More than doubles its net free cash projection to $4.466 billion over the life of mine. Notes ‘increased volumes and prices for high grade purified graphite products from beneficiation facility, reflecting global demand.’ It now projects annual earnings before interest, taxes, amortisation and deprecation of $333 million, up 45% from the initial estimate. ‘The updated model incorporates revised assumptions and inputs since the initial DFS, including new high value offtakers, updated pricing, costings and timings, expanded reserves incorporated into the mine plan, and increased confidence in product mix and saleability based on ongoing testwork and commercial engagement. Importantly, these improvements have been achieved without any increase in capital spend to deliver the project,’ Blencowe says. Chair Cameron Pearce comments: ‘Funding remains the key gatekeeper. We continue to progress Phase 1 equity discussions, alongside longer-dated Phase 2 debt pathways, and we will update the market as and when appropriate. Additionally, as Orom-Cross advances, we are also focused on ensuring the enlarged investment case is understood by a broader pool of sophisticated capital, supported by improved research coverage and institutional engagement.’ ---------- Borders & Southern Petroleum PLC - oil and gas company with Falkland Islands offshore assets - 2025 pretax loss widens to $1.4 million from $1.2 million as administrative costs rise to $1.5 million from $1.2 million. Reports no revenue, unchanged from 2024. Borders & Southern says it is in active dialogue over the farm-out process with ‘multiple interested parties.’ Chair Harry Dobson and Chief Executive Harry Baker comment: ‘After 30 years of work and over a billion dollars of industry investment, the Falkland Island’s first oil field will be brought into production in [the first quarter of 2028]. A truly pivotal moment for both the Falkland Islands, its people and the oil companies based in the region. This event has put Borders & Southern’s Darwin project, and our extensive prospect portfolio firmly in the spotlight; re-invigorating the farm-out process. We would also acknowledge the continued sterling efforts of the Falkland Island Government in providing the legislation necessary to deliver the Islands’ first development. The company continues to work closely with FIG and local players to build upon this foundation with our own development.’ ---------- Buccaneer Energy PLC - Texas-focused exploration company, previously known as Nostra Terra Oil & Gas - 2025 pretax loss widens to $2.2 million from $1.5 million in 2024 as revenue falls to $1.5 million from $2.0 million. Year-end net cash totals $117,000, up from $106,000 a year prior. Chair Stephen Staley says Buccaneer ‘continues to assess opportunities both in our core East Texas area and further afield with the goal of substantially increasing the company’s production and its reserve base.’ Adds: ‘With continued progress being made at its operations, The board believes that Buccaneer’s market capitalisation substantially undervalues it in relation to the value of its assets.’ Declares no dividend, unchanged from 2024. ---------- Talisman Metals PLC - copper exploration company in Morocco, formerly Ovoca Bio PLC - Announces the results from channel sampling activities at the Tirzzit copper-silver project. Highlights include channel TZ-CH001, which shows 2.65 metres at 1.71% copper and 22.25 parts per million silver and ended in mineralisation; Channel TZ-CH003, which shows 0.94 metres at 1.11% copper and 6.00 ppm silver; and channel TZ-CH005, which shows 1.63 metres at 1.06% copper and 4.25 ppm silver. Chief Executive Officer Tim McCutcheon says: ‘The seven channel sample program done on the back of our work at Fougnar this spring was an opportunistic effort to get hard data on what the team noticed in the field, namely obvious outcropping mineralisation that could show a long target horizon. This work, combined with historical data, lays out an approximate 4.6km horizon of mineralisation with clear potential to extend mineralisation data points to the east and to the west. The goal, after extending out the horizon, is to commence a drill programme on the project to show that the mineralization extends at depth and that it widens out in those areas.’ ---------- Fandango Holdings PLC - London-based investment company focused on the industrial and services sectors - Executes non-binding heads of terms in relation to the potential acquisition of a significant interest in a historically productive silver property located in Idaho. Says the potential acquisition of European Battery Metals Pty Ltd will no longer proceed, ‘as certain key licences had limited remaining duration, and the company was unable to obtain sufficient certainty regarding their extension.’ Company adds: ‘The board believes the opportunity could provide exposure to a historically productive silver asset in a tier-one mining jurisdiction, subject to the satisfactory completion of due diligence and the agreement of definitive transaction terms.’ Fandango is currently assessing whether the proposed acquisition satisfies the £30 million minimum market capitalisation requirement of the Equity Securities (Commercial Companies) category of the London Stock Exchange’s Main Market. ---------- Avacta Group PLC - London-based clinical stage biopharmaceutical - Names non-executive director Richard Hughes as chair, effective following the annual general meeting on June 22. Current non-executive chair Shaun Chilton has decided not to seek re-election, but will remain available as an advisor. ---------- Kavango Resources PLC - London-based, South Africa-focused metals explorer and gold producer - Announces a transition of its board and senior management team. Says this comes ‘ahead of its next phase of development.’ Interim Chief Executive Officer and Non-Executive Chairman Peter Wynter Bee plans to step down on July 1. Executive Interim Finance Director, will assume the role of Non-Executive Chairman and Interim Chief Executive Officer. Additionally, appointments of Thamsanqa Mpofu as non-executive director, effective 1 July. Mpofu is currently chair of Kavango Zimbabwe Holdings (Private) Ltd and Kavango Mining (Private) Ltd. Appointment of Lorenz Werndle as chief financial officer and executive director, effective from July 20. Search for a permanent CEO is ongoing. ---------- Logistics Development Group PLC - investment company focused on logistics assets - Net asset value at March 31 is 26.4 pence per share, down 1.2% from December 31. LDG’s investment portfolio represents a fair value of £106.7 million excluding cash. ---------- Great Western Mining Corp PLC - Nevada-focused gold, silver and copper explorer - 2025 pretax loss narrows to €1.1 million from €1.8 million. Administrative costs rise to £1.1 million from £971,913. Finance income rises to £4,575 from £3,441. CEO Ed Loye says: ‘Our priority now is to advance the Defender-Pine Crow programme through drilling and technical evaluation while continuing to unlock value across the wider portfolio. At the same time, we intend to raise the company’s profile significantly within North American capital markets and among potential strategic partners. With fresh funding secured, an experienced technical team in place and multiple catalysts ahead, I believe Great Western is entering a particularly exciting phase of its development and I look forward to updating shareholders on our progress in the months ahead.’ ---------- Aquila European Renewables PLC - currently in a managed wind-down, had previously invested in European renewable energy assets - Oyfjellet Wind Investment AS places a €80.0 million senior secured green bond. Aquila has a 13.7% shareholding in the 400 megawatt wind farm located in northern Norway. The bonds carry a floating interest rate of 3-month EURIBOR plus 4.25% per annum and have a maturity of 5 years from May 22. Net proceeds are to refinance the Oyfjellet’s existing €80.0 million senior secured green bonds, which were due to be redeemed in September 2026, and to cover transaction-related expenses. ---------- Copyright 2026 Alliance News Ltd. All Rights Reserved.
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