Cornish Metals Inc. has entered into a non-dilutive £7 million (US$9.1m) secured credit facility with its 25.95% shareholder Vision Blue Resources Ltd for the South Crofty tin project. DISCUSSIONS The facility, with a term until 31 March 2025 and carrying 15% interest per annum, will be used for general operating and corporate purposes. Chief executive […]
Month: December 2024
Tertiary completes Mushima North drill
Tertiary Minerals plc has completed its inaugural drill at the Mushima North copper project in Zambia. REMOTE Started in September, the programme aimed to test the A1 and C1 coincident copper, zinc and arsenic soil anomalies defined by soil sampling in 2023. A total 25 air core / reverse circulation holes were drilled to a […]
Obituary – mining executive Richard Conroy
Richard Conroy, whose experience covered mining, entrepreneurship, politics and medicine, has died aged 91 following a brief illness. LEGACY In 1995 Professor Conroy founded Conroy Gold and Natural Resources plc, of which he was executive chairman, exploring for base and precious metals in Ireland. He also held the same positions at Karelian Diamond Resources plc […]
Deltic CEO Graham Swindells steps down
Deltic Energy plc chief executive Graham Swindells has stepped down, effective immediately. His successor will be current chief operating officer Andrew Nunn. “Despite the recent challenges presented by the UK’s political and fiscal environment, I am proud of what we have achieved in establishing Deltic as one of the UK’s leading explorers,” said Mr Swindells. […]
Beacon losses increase at Erfelden
Beacon Energy plc resumed trading following publication today of its annual audited accounts for its operations in the Erfelden field in Hessen, onshore Germany. POTENTIAL Comprehensive loss for 2023 totalled $3.7 million (May – December 2022: $1m) while cash and equivalents increased to $4.8m by year end. Continued cost reductions, due to be fully implemented […]
Rockhopper agrees Italy insurance and exit
Rockhopper Exploration plc has secured an insurance policy in case the Italian government succeeds in annulling the company’s Ombrina Mare arbitration award. CLARITY The company has also signed a share purchase agreement with Zodiac Energy Ltd for its other Italian assets to focus on the South Falkland Basin. Rockhopper said that the insurance policy would […]