Altona Rare Earths plc announced that its local representative partner in Malawi, Hilton Banda, is no longer a non-executive director (NED) of the company with immediate effect. The news follows the company’s decision to exit the project. Altona appointed Mr Banda as NED in November 2021.
Month: November 2024
Altona exits Chambe project
Altona Rare Earths plc announced it had terminated its interest in the Chambe project in Malawi. CONDITIONS PRECEDENT The company added that its local joint venture partner had failed to complete the conditions precedent as set out in an agreement. Altona said it had spent only minimal costs, mainly relating to due diligence, on the […]
Borders to raise $1.8m for Falkland licences
Borders & Southern plc said it planned to raise US$1.8 million (£1.35m) to appraise and develop its Darwin gas-condensate discovery off the Falkland Islands. FUNDRAISING The money will also be used for general working capital. The company added it intended to raise $600,000 (£450,000) in a subscription solely involving chairman Harry Dobson for 34,702,000 new […]
EA minded to grant Horse Hill changes as public consultation begins
The Environment Agency (EA) has said it was minded to accept draft proposals for changes, including construction of four additional boreholes, at Horse Hill oil field near Gatwick in Surrey. VARIATION Operator Horse Hill Developments Limited (HHDL) applied to the EA for a variation of its permit covering a range of work. UK Oil & […]
Flaring falls by 19% in the UK North Sea – OGA
The Oil and Gas Authority (OGA) reported that flaring* in the UK North Sea fell by 19% last year, following a 22% decrease during 2020. STATISTICS In a statement, the OGA said that production facilities cut their flaring by 6 billion cubic feet (bcf), to 26 bcf, a reduction equivalent to the annual gas demand […]
Power Metal halves losses and increases projects
Power Metal Resources plc halved losses and increased its cash balance and projects in metal and mineral exploration across three continents. FINANCES The company’s portfolio includes precious, base and strategic metals in Africa, Australia and North America. In its audited financial results for the year ended 30 September 2021, the company reported loss after tax of […]