Union Jack Oil plc has reached material net revenues of US$12 million from the Wressle joint venture hydrocarbon development in North Lincolnshire on the western margin of the Humber Basin. OPERATIONS The figure dates from the restart of production in licences PEDL180 and PEDL182 on 19 August 2021. Union Jack, which holds a 40% economic […]
Day: 15 November 2024
Power Metal acquires first graphite project
Power Metal Resources plc has intensified its focus on specialist ‘battery metals’ by acquiring its first graphite project and forming a new UK private battery metals and minerals focused vehicle. DOERKSEN BAY The new project of Doerksen Bay covers 4,222 hectares and lies 230km northeast of La Ronge in Saskatchewan, Canada. The acquisition centres on five Saskatchewan mineral […]
PFS confirms strong LoM returns at Amapá
Cadence Minerals plc said its pre-feasibility study (PFS) confirmed the potential for high-grade iron ore concentrate production and strong returns over life of mine (LOM) at the Amapá iron ore project in northeast Brazil. PFS Wardell Armstrong International compiled the PFS which was managed by Pedra Branca Alliance Pte. Ltd, Cadence and Indo Sino Pte […]
Oriole converts directors’ sixth salary tranche for £7,000
Oriole Resources plc reported the conversion of its directors’ sixth tranche of gross salary totalling £7,000 under the company’s extended salary sacrifice scheme. The salary was converted using the 30-day VWAP on 31 December 2022 (0.1558 pence) to 2,725,021 new ordinary shares of 0.1p each in the company. Name Number of Ordinary Shares Issued Resultant shareholding in […]
Corcel agrees farm-out and JV for Mt Weld
Corcel plc has signed a farm-out and joint venture agreement for its recently acquired rare earth elements (REE) project at Mt Weld in Laverton, Australia. MT WELD In early December 2022, the company acquired licence P38/4489 holding a granted mineral tenement, located 1.4km (0.9 miles) west-north-west of Lynas Rare Earths Ltd’s Mt Weld REE mine. […]
United finds no hydrocarbons in ASW-1X
United Oil & Gas plc noted no hydrocarbons following completion of drilling operations on the ASW-1X exploration well at the Abu Sennan joint venture (JV) licence, onshore Egypt. RESULTS Operator Kuwait Energy Egypt (78%) drilled the well to a total depth of 3,640 metres, 10 days ahead of schedule and under budget. “Although the well […]