Ascent Resources plc today said it had reached an agreement over further hydrocarbon revenues from the joint venture (JV) operations within the Petisovci concession area in Slovenia. DISPUTES The legacy disputes are between the company and its Slovenian JV partner Geoenergo and the JV operating service provider Petrol Geo. In August 2022, Ascent received its […]
Finance
Horizonte raises £70.5m to meet rising costs at Araguaia
Horizonte Minerals plc has raised £70.5 million in an oversubscribed placing at 90.5 pence per share to meet rising costs for its Araguaia nickel development in Brazil. PLACING The placing, which is one part of a fundraise that also includes a subscription, exceeded the company’s original gross target of £61.7m. Horizonte said that 77,945,627 new ordinary shares […]
Horizonte expects total capex rise to $537m for Araguaia
Horizonte Minerals plc said a 12.6% rise in costs along with engineering improvements would see total capital expenditure rise to U$537 million for its Araguaia nickel project in Brazil. INFLATION As at the end of September 2022, overall operations had progressed by 16% and engineering by some 71%. Chief executive Jeremy Martin said that since […]
FCM looks to acquire Sunbeam gold project
First Class Metals plc (FCM) plans to acquire the three claims covering 48km2 of developed gold mines in the Sunbeam project in northwest Ontario, Canada. SUNBEAM The potential purchase from Canadian vendor Nuinsco Resources Ltd lies in Ramsay-Wright township in the Superior Province of the Canadian Shield. The property comprises the Sunbeam mine, which operated […]
Cuadrilla Resources in line for £11m to extract shale gas in Lancashire
Cuadrilla Resources plc’s owner said that its recent AUS$19.7 million (£11.5m) fundraise may be used on the shale gas extraction project in Lancashire. REGULATORY CHANGES A statement from Australian owner AJ Lucas Group Ltd yesterday reported completion of the “heavily oversubscribed” placement of 179.4 million shares each at $0.11, a discount of 29%. “Proceeds raised […]
Shareholders back Ormonde’s €2.3m sale of La Zarza
Ormonde Mining plc has received 99.77% shareholder approval for the €2.3 million sale of its La Zarza copper-gold-zinc project in Spain. ACQUISITIONS The vote was held in the company’s extraordinary general meeting earlier today. Following completion of the sale, Ormonde will become an AIM Rule 15 cash shell and have to make an acquisition or acquisitions constituting […]