Caerus Mineral Resources plc has signed a subscription agreement with shareholder EV Metals Group plc (EVM) under which Caerus may need EVM to subscribe up to £625,000 for unsecured convertible loan notes. USES The company added that EVM’s holding in Caerus would increase from 16.34% to 29.9% should it require EVM to subscribe for the […]
Month: November 2024
Block welcomes SLB’s rights waiver over 108m shares
Block Energy plc said that SLB (formerly Schlumberger) had decided not to exercise its right to acquire 108 million ordinary shares in the company. ACQUISTION In 2020, Block granted 120 million options as consideration for the acquisition of the Schlumberger Rustaveli Company Ltd (SRCL), which held Georgia’s most productive licence, Block XIB. Of these, SLB assigned to Jindal Petroleum […]
Borders targets £2.5m in 44% discounted fundraise
Borders & Southern Petroleum plc has raised £2.5 million before expenses through a firm placing and a conditional placing and conditional subscription. ISSUE PRICE Subject to the shareholder approval, the company will issue 142,857,138 new ordinary shares each at 1.75 pence, an approximate 44% discount to its closing price of 3.15 pence on 30 November […]
Rockhopper extends South Falkland licences
Rockhopper Exploration plc has extended each of its oil production licences (100%) in the South Falkland Basin. FOCUS The licences, which were due to expire on 3 December 2022, will remain valid until 3 December 2024. Chief executive Samuel Moody said that the company would continue to focus on working with Navitas Petroleum LP to develop […]
FCM assays show ‘massive sulphide’ find at West Pickle Lake
First Class Metals plc (FCM) reported assay results showing a “massive sulphide” discovery representing a “major new nickel district” at West Pickle Lake nickel-copper-cobalt project in Ontario, Canada. JOINT VENTURE The Pickle Lake project area comprises 33 single cell mining claims over which Palladium One Inc has the option to earn in to an 80% interest […]
Oriole restarts field work at Bibemi-CLP
Oriole Resources plc has restarted field work following the rainy season at its Bibemi orogenic gold and Central Licence Package (CLP) gold projects in Cameroon. BIBEMI The company is currently conducting a pit optimisation study and site visit at Bibemi in the north of the country. The work aims to upgrade a portion of the […]