Horizonte Minerals plc has been granted a 60-day stay period to negotiate indebtedness and work on the Araguaia nickel project restructuring plan for creditors’ approval. FUNDING The Brazilian precautionary measure gives the company’s local operating subsidiary a longer period to negotiate directly with creditors or via mediation, while aiming to protect its cash in the […]
Month: December 2024
Angus shareholders approve 227m fee shares issue
Angus Energy plc shareholders backed the issue of 226,513,000 fee shares to Aleph Commodities Ltd in relation to February’s £20m Trafigura financing. Approval was given at the company’s general meeting on 14 March. On admission, Angus will have 4,394,406,340 ordinary shares in issue, each with the right to one vote. The company holds no ordinary shares […]
Baron Oil chairman and CEO step down
Baron Oil plc non-executive chairman John Wakefield and chief executive officer Andy Yeo have stepped down. Dr Andy Butler, currently director Asia-Pacific, becomes CEO with immediate effect. Mr Yeo remains on the board until the end of March to transfer responsibilities to the new CEO, while Mr Wakefield will leave the board once a new […]
CMR conditionally raises £250,000 via placing
Critical Mineral Resources plc has conditionally raised approximately £250,000 before expenses via a placing. KM SECURITIES The placing comprised 12,242,252 new ordinary shares in the company and 8,018,646 treasury shares, at a price of 1.25 pence per new ordinary share. KM Securities Pty Ltd, in which Critical Minerals non-executive director Russell Thomson is 50% shareholder, acquired 2 […]
Cornish Metals CEO Richard Williams steps down
Cornish Metals Inc chief executive officer Richard Williams will step down from the post and the board at the end of this month. Mr Williams will remain available as a consultant to the company. “On behalf of the board of directors I want to thank Richard for the many achievements he made and obstacles overcome to […]
Orcadian agrees new date to repay $1m loan to Shell
Orcadian Energy plc has agreed an extension until 13 June 2024 to pay the US$1 million loan to Shell. AGREEMENTS The original repayment was 23 August 2023 which was twice extended to 13 March 2024. The company said that the new extension allowed time to process the $3.1m sale of a 81.25% interest in its […]