First Class Metals plc (FCM) said final results from the first phase of exploration at the Zigzag lithium project further supported the property’s potential. CONFIDENCE Grab samples identified a 350-metre strike with >1% Li2O remaining open at both ends. The company has completed channel sampling in the central area of the property, with results pending from […]
Month: December 2024
Cadence Minerals CEO increases shareholding
Cadence Minerals plc chief executive and director Kiran Morzaria increased his holding in the company by 100,806 ordinary shares each for 0.074 pence. Following the purchase, Mr Morzaria now has 1,573,240 ordinary shares in Cadence. Finance director Donald Strang owns 957,545 ordinary shares; non-executive chairman Andrew Suckling 381,602; and non-executive director Adrian Fairbourn 731,005.
GreenRoc PEA shows 22 years for Amitsoq mine
A 22-year mine life, with potential to increase by expanding resource, is forecast for GreenRoc Mining’s graphite project at Amitsoq in southern Greenland. ECONOMICS SLR Consulting Ltd’s NI 43-101 preliminary economic assessment (PEA) includes average annual production of 77,000t of concentrate at a minimum 94% grade. The mine plan assumes mining from only the lower graphite […]
Serica Energy looks to redevelop Kyle oil field
Serica Energy plc has been awarded 100% of block 29/2a, containing the decommissioned Kyle oil field, in the UKCS 33rd offshore licensing round. STUDIES The North Sea Transition Authority made the award to the company’s subsidiary Tailwind Energy Chinook Ltd, subject to licence documentation. Serica said its internal preliminary mid-case estimate of recoverable resources after […]
Angus issues shares for £3m loan
Angus Energy plc received shareholders’ approval in yesterday’s general meeting to issue 516,033,308 shares at 0.66 pence to Kemexon Ltd in exchange for a £3 million loan. Following the issue of the shares, Angus will have 4,142,893,340 ordinary shares in issue, each with one vote. The company holds no ordinary shares in treasury.
Mechanical and electrical faults stop Tai-3 drilling
Further drill rig problems at the Tai-3 well have halted operations at Rukwa, southwest Tanzania. RESERVOIR TARGET Licence holder Helium One Global said that a mechanical and an electrical fault on 29 October during drilling the final section had resulted in a temporary rig shut down. “Whilst running back in hole following a drill bit […]