Hummingbird Resources plc has increased its debt with a US$5 million unsecured interest-free loan from its major investor CIG SA. Funds will be used to pay the first instalment to the Government of Mali, where the company owns the Yanfolila gold mine. The loan has a fixed $2.8mn royalty payable between 1 March 2025 and […]
Finance
GreenRoc receives financing interest for Amitsoq
GreenRoc Strategic Materials plc has received a non-binding letter of interest from the Danish national promotional bank and export credit agency to help fund the Amitsoq graphite project in South Greenland. CONSTRUCTION Potential financing from the Export and Investment Fund of Denmark (EIFO) would be used to buy equipment and services from suppliers including FLSmidth […]
Red Rock to conclude DRC arbitration award
Red Rock Resources plc expects to conclude and have payments arranged next week at a working meeting of parties involved in the arbitration award in the Democratic Republic of Congo. The company said it met various parties in Kinshasa over the Christmas and New Year period to discuss the award. The working meeting will be on […]
Kistos strengthened by Norway tax rebates
Kistos Holdings plc ended 2024 with a cash balance boosted by $84 million in tax rebates for the previous year relating to its Norwegian assets. BALDER AREA The company’s trading statement showed total cash of $144m with undrawn cash of a further $20m in place. Proforma net debt totalled approximately $45 million including tax rebates […]
United issues second tranche of fundraise shares
United Oil & Gas plc has issued the second tranche of shares relating to the December £700,000 fundraise. SUCCESSOR The balance of 315 million new ordinary shares of £0.00001 each have one warrant for every two subscribed placing shares. Following admission, United total issued share capital will be 1,856,353,969 ordinary shares of £0.00001, with voting […]
Beacon becomes cash shell after assets sale
Beacon Energy plc today became an AIM Rule 15 cash shell after creditors sold certain assets belonging to its German subsidiary to a third party, signalling the start of its liquidation. TRADING Rhein Petroleum GmbH had debts of €7.5 million following a poor show at the Erfelden field in Hessen and lack of “very significant […]