Reabold Resources plc said its investors can expect payouts following completion of the sale of its investee company Corallian Energy Ltd to Shell UK Ltd. CONSIDERATION The company expects that payment of the initial gross consideration of £10 million (c. £3.2m net to Reabold) will be made to Corallian shareholders (including Reabold) over the coming […]
Day: 15 November 2024
Cadence to increase stake in Amapá iron ore
Cadence Minerals plc said it intended to increase its stake from 27% to 30% in the Amapa iron ore project in Brazil. FINANCE The company added it would retain its first right of refusal to acquire 49% of the asset. Cadence will earn the additional 3% through conversion of loans, capitalisation of management, consultancy, and […]
Cornish Metals signs additional rights at South Crofty
Cornish Metals Inc has increased its acreage by signing a lease for certain mineral rights next to its South Crofty tin project in Cornwall. GREAT FLAT LODE The Canadian company said that the deal with Roskear Minerals LLP is for a 49 hectare area adjacent to the southern boundary of its underground permission area. The […]
Tertiary to plan drilling at Brunton Pass
Tertiary Minerals plc plans a drilling programme following its summer exploration campaign at the Brunton Pass copper-gold project in Nevada, USA. MINERALISATION The company’s work included trenching, sampling, geochemical analysis, petrologicalevaluation and field follow up. Six trenches were completed for a total 386m to evaluate further previously reported copper, mercury and arsenic anomalies in soil […]
British Lithium files two further patents for production in Cornwall
British Lithium said it had filed two more patents for the production of high purity lithium carbonate and lithium hydroxide at the company’s pilot plant in Cornwall. RESEARCH The company has for five years researched the “most sustainable and economic process” to recover lithium from the unconventional lithium mica granites found across northern Europe. Since […]