Critical Mineral Resources plc has raised an additional £100,000 through the convertible loan note issue in July, taking the total to £1 million. CMR also issued 1,090,909 warrants as payment for fees. The company, focused on metals exploration in Morocco, said the fundraise followed further strong demand.
Finance
Ascent raises $1m via direct subscription
Ascent Resources plc has raised gross US$1million (£763,170) via a direct subscription at a 43% premium. The company issued 33,181,304 new ordinary shares of 0.5p each to oil and gas investor CB Energy VI, LLC at a price of 2.3 pence per new share. Following completion of the subscription and admission, CB Energy will have […]
Fulcrum raises £643,500 via subscription
Fulcrum Metals plc has raised £643,500 via a 45% discounted conditional subscription of 8,043,750 new ordinary shares of 1 pence, at a price of 8 pence per share, by certain existing shareholders. DIRECTORS The company’s directors will later this month raise an additional £114,500, comprising a £89,769 subscription and conversion of outstanding salaries totalling £24,731 into […]
Europa decides against renewing Serenity
Europa Oil & Gas (Holdings) plc has ruled out renewing licence P2358, containing the Serenity oil discovery, in the Outer Moray Firth. COSTS The company holds a 25% farm-in with operator i3 Energy owning 75%. After an appraisal well in 2022 showed “disappointing” results the companies began talks on the field’s potential. Europa said its […]
Kavango starts Zimbabwe funding initiative
Kavango Resources plc has launched a new capital investment and financing programme with an initial £2 million convertible note to advance its Zimbabwe interests. RIGS The CLN with major shareholder Purebond Ltd will define mineable gold resources and acquire plant and equipment for larger scale production at the Hillside gold project. Production at the new […]
Helium One raises £6.43m for Colorado farm-in
Helium One Global Ltd has raised £6.43 million to fund a 50% farm-in to the Galactica-Pegasus project and a similar interest in leases of a proven helium fairway in Colorado, USA. CASH FLOW The fundraise with Cynosure Capital Pty Ltd was via a 37% discounted direct subscription in a cash box structure for 590,000,000 new […]