Orcadian Energy plc has secured an extension to 5 July to repay its $1.43 million loan to Shell International Trading and Shipping Company Ltd. The amount owed will be settled from payment due under a proposed farm-in or joint venture on Orcadian’s offered southern North Sea licence. On repayment of the debt, the company will […]
Finance
Beacon trims board as part of cost cutting
Beacon Energy plc has trimmed its board and plans to reduce operating costs following lower than expected oil flow from the Schwarzbach-2 sidetrack well in the Erfelden field, Hessen. CREDITORS The departure of NEDs Larry Bottomley, previously CEO, and Stephen Whyte leaves non-executive chairman Mark Rollins, CEO Stewart MacDonald, independent NED Ross Warner and NED […]
Anglesey Mining raises £415,000
Anglesey Mining plc has raised £415,000 via a placing of 32.5 million ordinary shares with certain institutional and other investors and a subscription of 9m ordinary shares, all at 1 pence per share. Net proceeds will go towards developmental work at Parys Mountain, advancing development options at Grängesberg iron ore mine, debt repayment and general […]
Altona conditionally raises £1.29m
Altona Rare Earths plc has conditionally raised £1,290,000 via a subscription and two loans to progress its African projects. PROSPECTUS The 1.2% discounted subscription for 39,000,000 new ordinary shares of 1 pence each in the company raised £390,000. Altona additionally secured two loans of £600,000 and £300,000. Of the combined amount raised, private investor Tracarta […]
Power Metal looks for Molopo funding
Power Metal Resources plc is exploring financing to progress its Molopo Farms Complex in southwest Botswana. INVESTMENT The company previously drilled hole DDH1-14C which intersected the steeply dipping geophysical superconductor at the high priority target area T1-14. Power Metal collected eight samples from 828.4m to 832.6m end of hole which remains open at depth. “Significant […]
Predator receives £300,000 via warrant exercise
Predator Oil & Gas Holdings plc has received £304,474.06 following notices to exercise 5,221,203 warrants by Novum Securities Ltd. A total 2,890,908 warrants are exercisable at 5.5 pence per share; 1,780,412 warrants at 5.7 pence per share; and 549,883 warrants at 8 pence per share. The company has issued to Novum 5,221,203 new ordinary shares. […]