Europa Oil & Gas (Holdings) plc reported a 92% increase to 1.55 trillion cubic feet in Pmean prospective resource estimate for Inishkea West, offshore Ireland. FOUR-WAY CLOSURE Europa reprocessed the seismic data using full waveform inversion and reverse time migration (RTM) to 20Hz. The findings have prompted the company to pause its farm-out process until […]
Day: 11 November 2024
Araguaia costs to rise 35% with first production delayed
Horizonte Minerals plc anticipates at least a 35% increase in overall capital expenditure and a delay to first production at its Araguaia nickel project in northeast Brazil. FINANCING The company said it was making “good progress” on the final detailed engineering and construction design for Line 1 but a review of costs for the design […]
Rockhopper issues 900,000 shares in warrant exercise
Rockhopper Exploration plc has issued a total 989,889 ordinary shares of 1 pence each from warrants issued as part of the fundraise in June 2022. The shares were issued on 6, 14, 21 and 28 September 2023 under the company’s existing block listing entitlement. As at 30 September 2023, Rockhopper’s issued ordinary share capital comprised 591,439,130 ordinary shares […]
Scotgold could appoint administrators ‘over coming days’
Scotgold Resources Ltd said it could appoint administrators over the coming days after a prospective investor withdrew from financing discussions for the Cononish gold-silver mine. The Australian company, which last week put some of its staff on unpaid leave, also faces action from an unnamed creditor. In a statement today, Scotgold said: “The company has […]
CMR signs binding heads of terms earn-in for Zagora
Critical Mineral Resources plc (CMR) has signed a binding heads of terms to earn-in to the Zagora cobalt project in Morocco. MILESTONES The project, 25km southwest of Zagora City and 90km south of the Bou Azzer mining district, has shown near-surface cobalt mineralisation with the “potential for a shallow discovery”. CMR said that assays from […]
Orcadian raises £350,000 via subscription
Orcadian Energy has raised gross £350,000 via issuing 2,916,666 new ordinary shares each of £0.12 of the company. The fundraise, part of a direct subscription with new investors, is at a discount of approximately 14% to the closing mid-price of an ordinary share in the company on 29 September 2023. Proceeds will go towards working […]