Red Rock Resources plc raised £500,000 from issuing convertible loan notes, each at a price of £10,000. As of 19 October, £210,000 had been raised before expenses by subscription to 21 notes, closing the first tranche of the notes issue. The company will use net proceeds for its gold project in Kenya, lithium assets in […]
Finance
Corcel offered $4.1m for Mambare
Corcel plc has received a revised conditional offer of $4.1 million for its 41% interest in the Mambare nickel-cobalt project in Papua New Guinea. EXIT Part of the payment from Integrated Battery Metals (IBM) can be either in cash or IBM shares at Corcel’s discretion. In March 2023, Corcel restructured its PNG assets by signing a […]
Scotgold in advanced talks with new strategic investor
Scotgold Resources Ltd said it was in “advanced discussions” with a new strategic investor after its previous most advanced prospective investor withdrew from negotiations. ADMINISTRATORS The Australian company added that an agreed financing deal to develop the Cononish gold-silver mine, would provide sufficient funds to continue as a going concern. “Whilst financing discussions are at […]
Golden Metal begins trading on OTCQB venture market
Golden Metal Resources plc was earlier today admitted to trading on the OTCQB venture market, targeting new investors in the United States. The company, which continues to trade on AIM, said it had issued no new ordinary shares through the process. Golden Metal owns five projects in Nevada targeting base and precious metals, lithium and tungsten.
IOG appoints administrators
IOG plc has appointed administrators while its nominated adviser and broker has resigned. NEGOTIATIONS The company operates the Saturn Banks gas project in the southern North Sea as well as incremental assets of P2442 and P2589 and prospects in undeveloped clusters. Since 2022, IOG has faced rising costs and from June 2023 has agreed successive […]
GreenRoc awarded £250,000 for graphite spheronisation plant FS
GreenRoc Mining plc has received £250,000 to help fund a feasibility study for a graphite spheronisation processing plant in the UK fed by concentrate from its Amitsoq project in Greenland. STUDY PARTNERS The Automotive Transformation Fund (ATF) awarded the grant under its recently closed feasibility study competition. GreenRoc said that the plant would produce active […]