Power Metal Resources plc has started its inaugural 1,000 metre diamond drill programme on the nickel-copper-cobalt-platinum group element (PGE) joint venture (JV) Haneti project in central Tanzania. PROGRAMME The JV, comprising Power Metal (35%) and Katoro Gold plc (65%), renewed the Haneti licences for a further seven years before the start of drilling. The programme comprises three […]
Month: November 2024
IOG phase I capex to rise on slow progress at Bacton
IOG plc said it anticipated increased Phase I overspend of 20-25% as the company reported slower than expected progress at Bacton gas terminal. EXPENDITURE IOG previously indicated that the gross “outturn” total Phase I capital expenditure was anticipated to exceed the original £305.5 million field development plan (FDP) budget by up to 10%. The company […]
IOG hopes to resume drilling at Southwark
IOG plc said it hoped to resume drilling in four to six weeks following suspension of work caused by seabed conditions at the Southwark well in the Southern North Sea. DATA ANALYSIS The company is working to find solutions to the conditions which caused the Noble Hans Deul rig to suspend operations earlier this month. […]
Galantas signs $1.06m loan with Ocean Partners
Galantas Gold Corporation has entered into a loan agreement for US$1.06 million (£800,000) with Ocean Partners UK Ltd for working capital and Cavanacaw gold mine in Omagh, Northern Ireland. TERMS Galantas said in a statement that the loan would carry an interest at an annual rate of 10% and is payable six months from the […]
Red Rock receives £25,515 in options exercise
Red Rock Resources plc received £25,515 in an options exercise after director Scott Kaintz sold 1,785,714 ordinary shares at a price of £0.00575 per share. OPTIONS EXERCISE On 20 January 2022, the board of directors approved the issuance of 5,670,000 ordinary shares of £0.0001 each in Red Rock, pursuant to the exercise of 2016 options […]
Egdon to appeal against refusal for Biscathorpe side-track
Egdon Resources plc said it would appeal against the refusal for a side-track drilling operation, associated testing and long-term oil production at Biscathorpe, Lincolnshire. DECISION In November 2021, Lincolnshire County Council (LCC) refused permission for the joint venture (JV) project on PEDL253. In a statement today, operator Egdon said it had decided to appeal after […]