West Cumbria Mining (WCM) said it was delighted that the Government has lifted its holding direction on the company’s proposed deep coal mine near Whitehaven, off the coast of Cumbria. ESTIMATED RESOURCE Secretary of State Robert Jenrick MP has decided not call in the application for him to settle the matter and the plans will […]
Finance
Alba Mineral raises £1.2m through shares placing
Alba Mineral Resources plc has raised £1.2 million before expenses through the issue of 320,000,000 new ordinary shares at a price of 0.375 pence per ordinary share. Share warrants will also be issued to each subscriber in the placing, with one warrant for every two shares subscribed for, for a total of 160,000,000 warrants.
Helium One to use £6m for aggressive drilling
Helium One Global has raised £6 million to fund infill seismic acquisition and to drill three wells during the first half of 2021 at its Rukwa project in southwest Tanzania. AMALGAMATION The £6 million was raised by the conditional placing of 211,267,597 ordinary shares at 2.84 pence per share and was “significantly oversubscribed”. The company also announced […]
Altona extends fundraise for African REEs
Altona Energy said it had extended its fundraising round due to ongoing interest as it continues its development plans for its rare earth elements (REEs) mining portfolio in Africa. The company said in September 2020 that it aimed to raise up to £500,000 for its REE projects in Uganda and Malawi. (bit.ly/356Hyx5) Altona announced this […]
Cornish Lithium reaches £3.8m via fundraise
Cornish Lithium Ltd has so far raised £3.8 million via crowdfunding for its projects in Cornwall. BATTERY METALS HUB Founder and chief executive officer Jeremy Wrathall said that the company was raising additional funding to create a battery metals hub for the UK. “The success of our recent exploration, and government funding for our pilot plant, […]
UKOG raises £2.2m to fund Turkish Resan oil project
UK Oil & Gas plc said it has raised £2.2million to fund its share of initial drilling and seismic costs for the Turkish Resan oil project. UKOG announced on 23 July 2020 that it had signed a binding heads of agreement with Aladdin Middle East Ltd (AME) to take a 50% interest in the oil […]