Helium One Global plc has restarted drilling Tai-3 well after a rig component failure halted operations earlier this month on the Rukwa licence in southeast Tanzania. ITUMBULA-C The company sourced and installed a replacement part and yesterday began drilling ahead through the primary reservoir targets in the Lake Bed formation, Karoo Group and Basement. The […]
Day: 11 November 2024
Scotgold in advanced talks with new strategic investor
Scotgold Resources Ltd said it was in “advanced discussions” with a new strategic investor after its previous most advanced prospective investor withdrew from negotiations. ADMINISTRATORS The Australian company added that an agreed financing deal to develop the Cononish gold-silver mine, would provide sufficient funds to continue as a going concern. “Whilst financing discussions are at […]
GreenRoc extends Amitsoq licence for coastal access
GreenRoc Mining plc has expanded its mineral exploration licence, containing the Amitsoq graphite deposit, from 48km2 to 72.52km2 in just three months from application. PROSPECTIVE The additional area secures access to coastal land opposite the Amitsoq deposit, allowing the use of flat ground for infrastructure including buildings, storage, depot sites and port facilities. The company said […]
Scirocco completes sale of 25% legacy interest in Ruvuma
Scirocco Energy plc has completed the sale of its 25% legacy interest in the Ruvuma onshore gas project in Tanzania. The company said that purchaser ARA Petroleum Tanzania had paid the balance of $2.54 million. Future contingent payments will depend on Ruvuma’s development. The investment was originally made by Solo Oil plc, from which Scirocco […]
Alba Mineral dewaters Clogau to level 3
Alba Mineral Resources plc has dewatered the lower Llechfraith workings at Clogau-St David’s gold mine to level 3 and completed field work at the historic Caerwych mine site. LOWER LLECHFRAITH The programme began following Natural Resources Wales’ refusal to allow a higher pump rate after heavy rainfall reflooded the lower Llechfraith workings. The company said […]
FCM NED Danesh Varma leaves
First Class Metals plc non-executive director Danesh Varma has resigned to pursue other interests as Andrew Williamson becomes NED, effective 15 October. Mr Varma will continue as an advisory consultant when required regarding corporate matters due to his extensive experience in Canada. “On behalf of the board of directors, I would like to thank Danesh […]