Hummingbird Resources plc has secured a binding agreement with its major investors on a new loan extension. SUPPORT The transaction is with CIG SA and Nioko Resources Corporation regarding the new CIG loan. Shareholders voted in favour of converting the CIG US$30 million loan, dated 6 November, into new ordinary shares in a debt-to-equity conversion. The […]
Month: January 2025
Tullow NED in shares-senior notes purchase
Tullow Oil plc non-executive director Roald Goethe has bought 100,000 ordinary shares of 10 pence each in the company at £0.1964 per ordinary share. Today’s £19,640 purchase follows Mr Goethe’s acquisition on 18 December of one million of Tullow’s 7.00% senior notes due in 2025. The transaction on the OTC Bloomberg Euromarket Fixed was for […]
FCM loan increases for North Hemlo-Sunbeam
First Class Metals plc’s existing loan has further increased from £500,000 to £700,000 for the North Hemlo and Sunbeam gold projects in Ontario, Canada. DRILLING The money from Seventy Ninth Group Ltd, which initially loaned £230,000 in June, adds to the investor’s proposed £2.18 million financing. Funds will be drawn in a single tranche and […]
Tertiary pauses Zambia projects until New Year
Tertiary Minerals plc has paused operations at three of its Zambia copper joint venture projects until after the Christmas and New Year break. DATA The company’s earn-in partner KoBold Metals drilled at Konkola West until 16 December but has yet to reach the target horizon. The programme is expected to resume on or around 7 […]
CMR chairman purchases loan notes balance
Critical Mineral Resources plc’s chairman has agreed to acquire the balance of the July convertible loan notes. VOTING RIGHTS Dominic Traynor will purchase in cash £325,619.17 of the balance due under the loan notes from the loan note holders. Under the terms of the CLNs, Mr Traynor will convert the balance into 29,601,743 new […]
Ascent acquires 49% in Utah-Colorado licences
Ascent Resources plc has acquired a 49% interest in 119,000 acres of helium-rich oil and gas licences in the Paradox Basin across Utah and Colorado, USA. ZONES The US$2 million acquisition, supported by a $475,949 fundraise at a 203% premium, is from Houston-based operator American Helium LLC. Ascent will pay $1.75m with 27,650,000 new Ascent […]