Tungsten West plc said it expected to reduce its workforce by 42% as part of cost cutting measures at Hemerdon tin-tungsten mine in Devon. SAVINGS The company forecasts redundancies and resignations will meet the targets in its nearly completed cost reduction programme which began in April 2023. “Monthly recurring payroll costs are expected to reduce […]
Finance
Cadence notes progress at Bynoe-Yangibana
Cadence Minerals plc this week noted the discovery of “very large zones” of lithium anomalism in progress from its two Australian investee companies. BYNOE Results from Evergreeen Lithium Ltd’s geochemical programme at its flagship Bynoe project in the Northern Territory showed anomalies “up to several kilometres long”. Included are anomalies in the geochemical pathfinder elements […]
Clontarf raises £350,000 via placing and subscription
Clontarf Energy plc raised £350,000, before expenses, via a placing and subscription for a total 437,500,000 new ordinary shares each of 0.01p at a price of 0.08p per placing share. The shares represent approximately 8.42% of the company’s issued share capital as enlarged by the fundraise. Following admission, Clontarf will have 5,193,326,117 ordinary shares in issue […]
i3 settles £22m debt and agrees C$100m Trafigura loan
i3 Energy plc has settled its outstanding £22 million senior secured guaranteed loan notes, due 31 May 2023, and agreed a C$100 million loan from Trafigura Canada Ltd. TRAFIGURA LOAN The offshore UK and Canada-focused company said that the loan would provide “greater financial flexibility and enhanced credit capacity” for its business plan. Part of […]
Green Glen agrees exclusive option for Lead Trial
Green Glen Minerals Ltd has agreed an exclusive option for long-term access and development, including drilling, for the Lead Trial gold prospect within the Loch Tay licence in Perthshire, Scotland. LEAD TRIAL The company, previously named Erris Gold, is exploring the discovery near Loch Tay, 43km east of Scotgold Resources’ Cononish gold mine and within […]
Altona raises £2m ahead of main market trading
Altona Rare Earths plc has raised £2 million in a placing and subscription ahead of starting to trade on the main market of the London Stock Exchange. The company raised £1,677,300 via a placing and £322,700 through a subscription with the issue of 40 million new ordinary shares each at 5 pence. Altona said it […]