Altona Rare Earths plc has raised £2 million via an oversubscribed placing and subscription. USES The placing resulted in £1,720,800 along with £279,200 from the subscription through the issue of 40 million new ordinary shares each at 5 pence. Altona plans to use the funds to complete the inaugural JORC compliant mineral resource estimate and […]
Month: November 2024
Oriole records £1.45m impairment from Hodine
Oriole Resources plc recorded a £1.45 million impairment, comprising 92% of overall losses, from its holding gold interests in Egypt. FINANCES The group’s main operations are exploration projects in Cameroon, partner exploration activities in Senegal, and the management of its investment and royalty positions. The final results for the year ended 31 December 2022 showed total loss for […]
Power Metal appoints Sean Wade as CEO
Power Metal Resources plc has appointed Sean Wade as executive board director and chief executive officer with immediate effect. Mr Wade, who replaces Paul Johnson, is an experienced corporate executive within the natural resource sector. He has held senior roles in mining companies including Berkeley Energia plc, Pensana plc and Asia Resource Minerals plc. Mr Wade has worked […]
Power Metal CEO Paul Johnson steps down
Power Metal Resources plc’s chief executive officer Paul Johnson has stepped down with immediate effect because of critical family health matters. He will be replaced by Sean Wade and will leave the board on 17 March. Mr Johnson will continue to work with the company on the managerial transition, communication strategies and notably “accelerate the […]
UK North Sea flaring decreases 50%
UK North Sea flaring has fallen by 50% following four consecutive years of reductions while venting last year increased, said the North Sea Transition Authority (NSTA). EMISSIONS Offshore flaring, when excess gas is burned off, decreased in 2022 by 13% to 22 billion cubic feet (bcf), contributing to a total reduction of 50% since 2018 […]
FCM signs earn-in for Zigzag lithium project
First Class Metals plc (FCM) has signed an earn-in agreement with Nuinsco Resources Ltd for a new lithium project in northwest Ontario, Canada. STRATEGIC The deal, first announced in December 2022, is for Zigzag which lies less than 100km from Armstrong in the Seymour Lake area close to current and future planned key infrastructure. The […]