Contractual disputes at Kouroussa gold mine in Guinea have halted operations, affecting production and cash flow. IMPACT Owner Hummingbird Resources plc’s principal contract miner Corica Mining Services temporarily suspended mining operations as of 17 March 2024. The company said that the suspension was “a clear breach of the mining contract” and has given Corica notice […]
Month: December 2024
Golden Metal prepares first Pilot drill
Golden Metal Resources plc is preparing to start its inaugural drill programme, pending permits, on its 100% owned Pilot Mountain project in Nevada, USA. SIGNIFICANT The company’s recent fundraise of £750,000 will go towards drilling multiple previously untested targets, including Porphyry South, as well as investigation of copper potential. Finalisation of a contract with a Nevada-based drilling contractor is […]
UKOG issues 207m shares to reduce £2m loan
UK Oil & Gas plc has issued 206,965,282 ordinary shares to reduce the £2 million loan from lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. Future conversion of the shares will further reduce the principal balance below January’s £660,000 figure. Following admission, the total voting rights in the company will be 3,460,957,892 ordinary shares. […]
Clontarf raises £400,000 via placing
Clontarf Energy plc has raised £400,000 before expenses via a placing of 1,142,857,143 new ordinary shares of 0.01p each in the company at a price of 0.035p per placing share. The placing shares represent approximately 18% of the company’s issued share capital as enlarged by the placing. Following admission, Clontarf will have a total of […]
Corcel results indicate Canegrass potential
Corcel plc said initial rock chip sampling results indicated a wider potential for its Canegrass lithium project in Western Australia. INTRIGUING The company owns and holds the rights over three tenements where exploration began with rock chip sampling in November 2023. Analysis of a total of 37 rock chip samples collected returned lithium-cesium-tantalum (LCT) pegmatite […]
Capricorn in line for $9.5m dividend from Vedanta
Capricorn Energy said that a payment order had been issued regarding Vedanta Ltd’s $9.5 million dividend owed to Capricorn UK Holdings Ltd. The Securities and Exchange Board of India issued the order dated 12 March 2024. Vedanta, which must pay the money within 45 days of the order’s date, may challenge the order before the […]