Alba Mineral Resources has raised £1,300,000, before expenses, through the issue of 472,727,272 new ordinary shares at a price of 0.275 pence per ordinary share. The proceeds were raised at a price four times higher than the price of money raised last month. Funding will now go towards Alba’s diversified portfolio including including surface drilling […]
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Power Metal signs 50% Botswana SJV with Kavango
Power Metal Resources plc has acquired a 50% interest in a 2,680 km2 strategic joint venture (SJV) portfolio of base and strategic metal project in Botswana. The acquisition involves four Botswana prospecting licences previously 100% owned by Kavango Resources, and forms a new SJV between the companies. Two prospecting licences for copper–silver cover 1,294.2km2 in […]
Alba finds new gold targets at Clogau-St David’s
Alba Mineral Resources plc aims to extend drilling after it identified ten separate gold targets and several new regional targets at Clogau-St David’s gold mine in North Wales. The junior miner has rehabilitated the mine in Dolgellau and is looking for extensions to previously worked gold veins. The mine has never been subjected to modern […]
Union Jack placing and subscription raises £7m
Onshore hydrocarbon production, development and exploration company Union Jack Oil plc raised £7 million from an “oversubscribed” placing and subscription. The company now has some £11 million which it will use to extend its drilling operations and seek acquisition opportunities following the UK’s departure from the EU, the pandemic and energy prices. Union Jack will […]
UDDGP geothermal lithium find is ‘globally significant’
The United Downs Deep Geothermal Power (UDDGP) project has found some of the world’s highest grades of lithium and best overall qualities from preliminary sampling in deep geothermal waters in Cornwall. Further sampling is planned before work begins on designing and building a lithium extraction pilot plant. The project, involving Cornish Lithium in collaboration with […]
Tungsten West aims to start drilling and raise £5m
Tungsten West hopes to start drilling at its tin-tungsten mine in Devon next week as it looks to raise £5 million with a private placement. The mining company will also begin selling the 700,000 tonnes of aggregates already stockpiled on the surface within the next few weeks. The company is currently rebuilding the existing plant […]