Tungsten West plc has appointed Alistair Stobie as chief financial officer effective on 13 November. Mr Stobie has worked with AIM-listed businesses within the energy and natural resources sector and raised capital within various markets. He was CFO at oil and gas company Octavia Energy, before holding the same post at Hurricane Energy plc which […]
Finance
United cancels £5.7m Maria sale before giving up licence
United Oil & Gas plc has terminated the £5.7 million conditional sale of the Maria discovery and will withdraw from the central North Sea licence on its expiry at the end of this month. EXHAUSTED The company has several times extended the long stop date for Quattro Energy Ltd’s purchase of P2519, which depended on […]
Angus issues shares for £3m loan
Angus Energy plc received shareholders’ approval in yesterday’s general meeting to issue 516,033,308 shares at 0.66 pence to Kemexon Ltd in exchange for a £3 million loan. Following the issue of the shares, Angus will have 4,142,893,340 ordinary shares in issue, each with one vote. The company holds no ordinary shares in treasury.
Horizonte stockpiles 138,000t ore at Araguaia
Horizonte Minerals plc had stockpiled 138,000 tonnes of ore averaging 1.92% nickel and spent US$429 million as of 30 September at the Araguaia project in Brazil. COSTS The company said it continued to progress during Q3 with construction at the site and advance financing discussions with its cornerstone shareholders and lenders. Horizonte expects a detailed […]
Orcadian signs lock-in with shareholder for new investor
Orcadian Energy plc has signed a six-month lock-in agreement over 7,049,695 ordinary shares in the company to allow a third-party investment deal. NEW INVESTORS Former director Greg Harding and his wife Nora Harding agreed not to sell their 9.35% holding from 23 October for that period of time except in certain limited circumstances. Orcadian, which […]
Karelian raises £250,000 via 33% discounted placing
Karelian Diamond Resources plc has raised £250,000 via a discounted placing of 10 million ordinary shares each of €0.00025, at a price of 2.5 pence per ordinary share. DIRECTORS’ DEALINGS The fundraise was at 2.5 pence per ordinary share, representing a discount of 33.3% to the closing mid-market price of 3.75 pence on 19 October […]