Red Rock Resources plc has issued 33,237,805 ordinary shares of £0.0001 each at a price of 0.11 pence under a previously agreed funding arrangement with a single investor. The request for the shares is from US-based institutional investor Diversified Metal Holdings LLC under an agreement from December 2022. The fundraise for exploration and working capital […]
Finance
Red Rock pays £65,500 debt with 46m shares
Red Rock Resources plc has repaid £65,500 of accrued debt by issuing 45,964,912 new ordinary shares of £0.0001 each in the company each at a price of 0.1425 pence. Following admission, the company’s total issued share capital will consist of 2,072,796,956 ordinary shares, with one voting right per share. Red Rock holds no shares in […]
Ascent cancels Beryl’s £1m subscription
Ascent Resources plc has cancelled the delayed £1 million subscription by Beryl International Pty following developments in the arbitration over its onshore Slovenia gas joint venture. TERMINATION Ascent’s reasons for the move include the possible receipt of Slovenia funds, a recent £400,000 fundraise, Beryl’s failure “to provide confidence” on its ability to complete its commitment […]
Prospex recovers €280,090 net performance bonds
Prospex Energy plc has received €280,090 net owed performance bonds from the Italian state for completing the gas pipeline tie-in from the Selva gas field joint venture in Po Valley, Italy. AGREEMENT Project operator Po Valley Operations Pty Ltd (PVO) holds 63% and Prospex has a 37% working interest. PVO recovered gross performance bonds of […]
Cadence agrees up to $10m loan for Amapá
Cadence Minerals plc has agreed up to a US$10 million loan to develop the Amapá iron ore project in Brazil, including optimisation studies on the processing route and environmental licensing. TRANCHES A commitment of an initial tranche of $2m has been agreed with Riverfort Global Capital Ltd to be entered into by RiverFort Global Opportunities […]
EnQuest production at top end of guidance
EnQuest plc reported strong operational performance for the first quarter of the year with production at the top end of guidance range for 2023. INTEGRITY Average group production was 47,725 boepd, based upon strong “uptime” across the company’s portfolio. Magnus well work programme for 2023 has started, with three wells returned to service following P […]