Horizonte Minerals plc has completed 65% of the overall Araguaia Line I construction programme and 53% of the physical site ahead of first nickel targeted for early next year. PROGRESS Construction off-site of the 126km, 230kV transmission line is well advanced with more than 90% of the pylons erected and 42km of conductor cable installed, […]
Day: 11 November 2024
Scirocco receives tax clearance to sell Ruvuma interest
Scirocco Energy today received tax clearance after paying £150,000 tax for the sale of its 25% interest in the Ruvuma gas production sharing agreement in Tanzania. CONTINGENCY PAYMENTS The company will now write to the country’s Minister for Energy to obtain final approval of the transfer of the licence interest to purchaser ARA Petroleum Tanzania […]
IOG agrees waiver for deferred €100m payment
IOG plc has agreed with bondholders a further waiver to 29 September over certain terms, including interest repayment, of its €100 million senior secured bond. BOARD OBSERVER The company said it had received support from bondholders controlling more than 70% of the voting bonds, representing 100% of the votes cast. The agreement results in the […]
Block allots total 35m shares for staff and services
Block Energy plc has allotted an aggregate 35,124,708 ordinary shares each of 0.25p as incentives for staff and to pay service providers. Following shareholders’ approval in June 2023, the company has allotted 30 million new ordinary shares to the Intertrust Employee Benefit Trustee Ltd as trustee of the company’s employee benefit trust. Block said the shares […]
Parys in line for muon tomography for resource drilling
The Parys Mountain polymetallic project will undergo a proof-of-concept study on the use of muon tomography to identify new resource and delineate existing zones of mineralisation. MUON TOMOGRAPHY Mine owner Anglesey Mining plc, currently preparing for a drill programme, has engaged ground engineering technical services company Central Alliance to use the exploratory tool. The technology […]
Higher recoverable oil volumes expected at Wressle
Egdon Resources plc anticipates higher recoverable volumes of oil than 2016 estimates following the late stage start of water production at the Wressle joint venture in North Lincolnshire. CPR The operator said that the start of “limited volumes” of water from the Ashover Grit, accounting for an average 3.72% of total fluid produced during July […]