Power Metal Resources plc has established its seventh spin-out, Power Arabia Ltd, which will focus on the Arabian Gulf. DISCUSSIONS The subsidiary is expected to undergo pre-IPO financing to fund activities and listing on the London Stock Exchange. Power Arabia will also cover any projects outside the region in joint ventures with “entities domiciled within the […]
Month: November 2024
Anning-Somerville under review after EPL concerns
Hartshead Resources NL is reviewing the economics and timeline for phase 1 development of the Anning and Somerville gas fields following plans to increase UK oil and gas taxes. UNCERTAINTY The Labour Party said it could raise more than £13 billion by increasing the Energy Profits Levy from 35% to 38%, leading to the headline […]
Karelian to finalise diamond mine compensation
Karelian Diamond Resources plc expects to finalise two landowners’ compensation appeals relating to the development of a diamond mine at Lahtojoki in Kuopio Kaavi, Finland. CONCESSION The Finnish Land Court has set the date for 21 May in Kaavi, when it will also complete appeals on the mine boundary. The Finnish mining authority TUKES, approved […]
Teathers changes name to Uranium Energy Exploration
Teathers Financial Ltd has changed its name to Uranium Energy Exploration plc. Companies House recorded the change effective on 8 March 2024. The directors remain the same as Alexander Barblett, accountant Mario Visconti and Power Metal Resources plc chief executive Sean Wade. Power Metal previously conditionally sold two of its Athabasca uranium properties, Reitenbach and […]
Golden Metal raises £750,000 from Purebond
Golden Metal Resources plc has raised £750,000 through a direct subscription from Purebond Ltd. USES The company issued 5 million new ordinary shares of 1.0p each, representing 5.5% of the enlarged issued share capital of the company, at an issue price of 15p per share. The subscription price is a premium of 5.3% to the […]
Union Jack expects West Bowlegs well to spud soon
Union Jack Oil plc expects drilling to start soon at its recently signed farm-in on the West Bowlegs prospect in Seminole County, Oklahoma. PRODUCTION The company said operator Reach Oil & Gas Company Inc had signed a drilling contract for the Andrews-1-17 well with a local firm. Groundworks are complete and a spud date due […]