Power Metal Resources plc has raised £1.05 million through the issue of 60,000,000 new ordinary shares of 0.1p each. The funds were raised at the closing market mid-price of 1.75p on 12 November, increasing the company’s working capital comprising solely cash and listed investments to circa £3m. The new shares issued represent a dilution of 4.5% of current issued share […]
Month: November 2024
Power Metal reports bonanza grades from diamond drilling at Silver Peak
Power Metal Resources plc announced bonanza grades from its 2021 diamond drilling exploration programme on the Silver Peak project in British Columbia, Canada. PHASE I The company completed 19 short-cored drill holes using Shaw or Hilti portable drills, producing 34mm diameter core samples. INTERCEPTS Power Metal said that assay analysis showed that 10 out of the 19 […]
Neptune sells non-operated Norwegian assets for $35m
Neptune Energy today announced it would sell its non-operated working interests for $35 million in three producing fields and two export pipelines on the Norwegian Continental Shelf (NCS). INTERESTS The company said it had signed sale and purchase agreements with OKEA ASA and M Vest Energy. The assets include the producing Draugen, Brage and Ivar […]
Block produces below average target levels at WR-B1a, West Rustavi
Block Energy plc announced that new well WR-B1a had produced below average target levels over the last eight days in West Rustavi, Georgia. FRACTURED RESERVOIRS Block has to date drilled three horizontal wells in naturally fractured reservoirs and acquired 3D seismic of the West Rustavi field. The company said that following the interim installation of […]
Altona appoints Hilton Banda as NED
Altona Rare Earths plc has appointed Hilton Banda as a non-executive director with immediate effect. Mr Banda, aged 35, is a qualified geologist and group chairman of Akatswiri Holdings Ltd in Malawi. Akatswiri is the parent company of a number of resources focused companies including Akatswiri Rare Earths Pvt Ltd, in which Altona acquired a […]
United spuds AJ-13 development well in Abu Sennan
United Oil & Gas plc announced that drilling had started at the Al Jahraa-13 development well in the Abu Sennan licence, onshore Egypt. AJ-13 The AJ-13 development well will take some 65 days to drill and complete and will target stacked Upper and Lower Bahariya reservoir targets. United added that the well was fully funded from […]