Red Rock Resources plc said it had issued £50,000 of the second tranche of convertible notes with accompanying warrants to high net worth investors. The company added that a single investor subscribed to the £50,000 notes. Red Rock will use the funds for general working capital. The notes are being issued on the same terms […]
Month: November 2024
Altona to raise £1.1m
Altona Rare Earths plc said it had conditionally raised £1.1 million through placing 13,750,000 million new ordinary shares at 8 pence each to help fund its operations at Monte Muambe, Mozambique. USES The funds will go towards completing an inaugural mineral resource estimate due in Q1 2023. The proceeds will also fund a preliminary economic […]
Boulby owner fined £3.6m for electricians’ severe burns
Cleveland Potash Ltd (CPL) has been fined £3.6 million after two electricians suffered severe burns in separate incidents at Boulby Mine in Saltburn-by-the-Sea, North Yorkshire. GUILTY PLEA The Health and Safety Executive (HSE) also ordered the company’s owners to pay costs of £185,000. CPL, now a subsidiary of Israel Chemicals Ltd, extracts organic fertiliser polyhalite. The company […]
Kavango steps up search for JV partner following KSZ exploration report
Kavango Resources plc said it would accelerate its search for a joint venture partner following completion of the most comprehensive exploration programme on the Kalahari Suture Zone (KSZ) Botswana. SUMMARY The company will also continue geophysical surveys while preparing to drill the B Conductors in the project which focuses on discovering nickel-copper-platinum group element deposits. […]
Neptune starts drilling ninth Rӧmerberg production well
Neptune Energy has started drilling on a new production well and plans to increase production further at the joint venture Rӧmerberg oil field in the Rhine Valley, southwest Germany. RÖMERBERG The 50-50 JV is between the company as operator and licence owner Palatina GeoCon. Holding “significant” reserves, the 5–6 km² oil field was discovered in […]
Weardale signs MoU to supply battery chain hub
Weardale Lithium Ltd has signed a memorandum of understanding (MoU) to supply a battery chain hub in the North East of England. PARTNERSHIP The County Durham-based company is developing a potential domestic resource of sustainable “green” lithium from naturally occurring geothermal brines. The MoU is with Tees Valley Lithium Ltd (TVL) for refining lithium at Wilton […]