Tullow Oil plc has been ordered to pay $76 million to HiTecVision in relation to a dispute regarding the acquisition of Spring Energy. DECISION In a statement Tullow said that a panel of arbitrators, working under the jurisdiction of Norwegian law, had delivered an award in favour of HiTecVision. “The panel had been asked to […]
Day: 15 November 2024
Red Rock drill results exceed expectations at Luanshimba
Red Rock Resources plc said results from reverse circulation (RC) drilling exceeded its expectations at the Luanshimba copper-cobalt project in the Haut-Katanga Province, Democratic Republic of Congo. PROGRAMME The Luanshimba project is operated by Red Rock Galaxy SA , an 80% owned Congolese subsidiary of Red Rock. Three prospects now named as Kilembwe (18 holes), […]
Altus intersects significant gold zone at Lakanfla Central
Altus Strategies plc said it had intersected a significant gold zone from reverse circulation (RC) drilling at the Lakanfla Central prospect on the Lakanfla licence, western Mali. LAKANFLA Lakanfla is 5km east of the company’s Diba licence which hosts numerous gold prospects, including a shallow-dipping, near-surface gold deposit. The Diba & Lakanfla project (100%) covers […]
Power Metal nears grant of REE-uranium licences
Power Metal Resources plc said the grant of licences was imminent for its rare earth element-uranium Selta project in the Northern Territory, Australia. LICENCES Selta is held within URE Metals Pty Ltd, an Australian private company and wholly owned subsidiary of First Development Resources Ltd (FDR) in which Power Metal currently holds a 96.15% interest. Power Metal said that […]
Cornish Metals signs further mineral lease at South Crofty
Cornish Metals Inc said it had signed an additional mineral lease to extend its copper-tin exploration area at South Crofty in Cornwall. TERMS The agreement with Sir Ferrers Vyvyan of Trelowarren covers 222 hectares and is valid for 25 years. The Canadian company will pay an annual rent, plus a tin price-based sliding scale net […]