Altona Rare Earths plc said it had conditionally raised £1.1 million through placing 13,750,000 million new ordinary shares at 8 pence each to help fund its operations at Monte Muambe, Mozambique. USES The funds will go towards completing an inaugural mineral resource estimate due in Q1 2023. The proceeds will also fund a preliminary economic […]
Finance
Weardale signs MoU to supply battery chain hub
Weardale Lithium Ltd has signed a memorandum of understanding (MoU) to supply a battery chain hub in the North East of England. PARTNERSHIP The County Durham-based company is developing a potential domestic resource of sustainable “green” lithium from naturally occurring geothermal brines. The MoU is with Tees Valley Lithium Ltd (TVL) for refining lithium at Wilton […]
Predator to raise £3.3 million via placing
Predator Oil & Gas Holdings plc is to raise £3.3 million via a placing to fund drilling at its onshore gas operations in Morocco. PLACING The company conditionally placed 60,000,000 new ordinary shares of no par value at 5.5 pence each, lower than yesterday (Tuesday)’s price of 8.3 pence. Predator said that the placing was significantly oversubscribed and […]
Ascent Slovenia receives first payment of €650,560
Ascent Resources plc said it had received the first cash payment following the agreement on recognition of revenue at its joint venture (JV) onshore gas operations in Slovenia. REVENUES On 2 August the company and its local JV partner agreed Ascent’s entitlement to 90% of the hydrocarbon production revenues from the PG-10 and PG-11A wells […]
Galantas increases private placement target to C$6m
Galantas Gold Corporation said it had signed an amending agreement to increase the size of its proposed private placement of raising CAD$4 million to up to $6m (£3.9m). UNITS The deal is with Canaccord Genuity Corp, on behalf of itself and a syndicate of agents including Cormark Securities Inc. and Research Capital Corporation. The Canadian […]
Chesterfield to minimise dilutive capital raisings
Chesterfield Resources plc said it had completed the initial round of cost efficiencies to minimise the need for dilutive capital raisings. REDUCTIONS The company previously stated it hoped to source the capital from non-dilutive external sources for the development of its Adeline copper project in Labrador, Canada. Chesterfield today added it expected to reduce “ongoing […]