Guardian Metal Resources plc has raised £750,000 by way of a placing of 2.5 million new ordinary shares of one pence each with a single existing institutional investor at £0.30 per share. TUNGSTEN The placing shares, with no warrants attached, represent 2.00% of the enlarged issued share capital of the company. The investor is UK asset manager Premier […]
Finance
Capricorn awaits delayed Columbus payment
Capricorn Energy plc said it was still awaiting the final US$22.5 million settlement payment relating to the Columbus field from Waldorf Production UK plc. EXTENSION The company acquired a non-operated 25% interest in the field when it sold its interests in the Catcher and Kraken fields under revised term in December 2023. After Waldorf missed […]
Tullow ruled exempt from $320m tax
Tullow Oil plc said it was not liable to pay $320 million tax on its offshore Ghana petroleum agreements following today’s ruling from the International Chamber of Commerce. FOCUS The amount relates to the branch profit remittance tax (BPRT) under the Deepwater Tano and West Cape Three Points petroleum agreements, which include the Jubilee and […]
Hummingbird secures new $35.6m loan deal
Hummingbird Resources plc has refinanced its loan agreement to US$35.6 million to support its subsidiary’s operations in southern Mali. NEEDS The unsecured amount plus accrued interest at 9%, from its largest shareholder Nioko Resources Corporation, is repayable on 31 December 2025. The new arrangement follows Nioko’s mid-December buyout cash offer for the company. Hummingbird shareholders […]
Red Rock issues 28.5m shares to convert advance
Red Rock Resources plc has issued 28,571,428 new ordinary shares of 0.01 pence each in the company to convert an advance of £10,000 from an existing shareholder. The subscription was at 0.035 pence per share with 28,571,428 accompanying warrants, exercisable at 0.040 pence per share before 27 December 2027. Following admission, the company’s issued ordinary share […]
Hummingbird secures loan extension
Hummingbird Resources plc has secured a binding agreement with its major investors on a new loan extension. SUPPORT The transaction is with CIG SA and Nioko Resources Corporation regarding the new CIG loan. Shareholders voted in favour of converting the CIG US$30 million loan, dated 6 November, into new ordinary shares in a debt-to-equity conversion. The […]