Kavango Resources plc and Power Metal Resources plc have completed the first diamond drill hole at the Ditau Camp rare earth element (REE) project in Botswana. JOINT VENTURE Ditau is a 50-50 strategic joint venture, operating as Kanye Resources, between Power Metal Resources plc and Kavango as the operator. The project comprises two prospecting licences […]
Month: November 2024
Galantas losses increase at Cavanacaw gold mine
Galantas Gold Corporation reported an increase in losses as administrative costs doubled for its gold project at Cavanacaw in Omagh, Northern Ireland. FINANCES The Canadian company’s results for year ended 31 December 2021 show net loss of CA$5,284,431 (2020: $3,228,452). General administrative expenses were $4,332,865 (2020: $2,065,277). Cash outflow from operating activities before changes in non-cash […]
Baron Oil raises £1.65m
Baron Oiplc said it had conditionally raised £1.65 million (before expenses) by way of a placing and subscription. The oversubscribed fundraise was for 2,750,000,000 new ordinary shares of 0.025p each at 0.06 pence per share. DIRECTOR PARTICIPATION Chief executive Andrew Yeo subscribed for 16,150,000 new ordinary shares at the issue price. Director Position New Ordinary […]
Galantas extends metals licences for Irish subsidiary
Galantas Gold Corporation has been granted additional licences to increase its base and precious metals prospecting area in Ireland. FLINTRIDGE RESOURCES The Canadian company’s local operating subsidiary Flintridge Resources Ltd has expanded its two areas in Co. Leitrim, increasing the total exploration land package by 47.8km2 to 159.4km2. In October 2021, the Minister for the Environment, […]
Power Metal receives £17,368 via warrant exercise
Power Metal Resources plc raised £17,368 after receiving notice to exercise warrants over 2,315,789 new ordinary shares of 0.1 pence. The exercise price was of 0.75p per warrant share. Following admission to trading, the company’s issued share capital will comprise 1,469,269,704 ordinary shares of 0.1p each.
Hurricane swings to profit in year of ‘profound change’
Hurricane Energy plc said it ended 2021 in a much stronger position than at the start, with a “solid financial platform and very good operational performance” at its Lancaster field, west of Shetland. FINANCES For the period ended 31 December 2021, the company reported revenues of $240.5 million from seven liftings of Lancaster crude (2020: […]