Reabold Resources plc reported the execution of the £32 million sale of its investee company Corallian Energy Ltd, holding the Victory discovery, to Shell UK Ltd. OPPORTUNITIES The investment company added it expected completion of the deal and initial gross consideration payment of £10m, c.£3.2m net to Reabold, will be during Q4 of 2022. Reabold […]
Day: 15 November 2024
Power Metal acquires Badger Lake uranium project
Power Metal Resources plc has added a further property to and expanded an existing one in its uranium portfolio in the Athabasca Basin area in Saskatchewan, Canada. BADGER LAKE Badger Lake covers 16.71km2 and takes the company’s uranium holding in the region to 12 properties, including the conditional sale of Reitenbach, with a combined area of 829.58km2. The […]
Horizonte raises £70.5m to meet rising costs at Araguaia
Horizonte Minerals plc has raised £70.5 million in an oversubscribed placing at 90.5 pence per share to meet rising costs for its Araguaia nickel development in Brazil. PLACING The placing, which is one part of a fundraise that also includes a subscription, exceeded the company’s original gross target of £61.7m. Horizonte said that 77,945,627 new ordinary shares […]
Horizonte expects total capex rise to $537m for Araguaia
Horizonte Minerals plc said a 12.6% rise in costs along with engineering improvements would see total capital expenditure rise to U$537 million for its Araguaia nickel project in Brazil. INFLATION As at the end of September 2022, overall operations had progressed by 16% and engineering by some 71%. Chief executive Jeremy Martin said that since […]