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.
Finance
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 […]
Altona to raise £500,000 for Africa REEs
Mining exploration company, Altona Energy plc, is looking to raise up to £500,000 for its new strategic focus on rare earth elements (REEs) in East Africa. The company has signed heads of agreements with two African mining companies, to acquire a majority stake in two REE projects, one in Malawi and the second in Uganda. […]