Finance Metals & Minerals News

Galantas to raise C$4m via private placement

Galantas Gold Corporation said it aimed to raise CAD$4 million (£2.56m) through a private placement for its operations at Cavanacaw gold mine in Omagh, Northern Ireland. USES The Canadian company added it would use the net proceeds to explore and develop the Joshua target, working capital and general corporate purposes. TERMS Galantas has entered into […]

Finance Metals & Minerals News

Tungsten West needs further funds for revised mine plan

Tungsten West plc is in discussions for additional funds after its revised plans failed to meet the $49 million loan terms from Orion Resource Partners for the Hemerdon tin-tungsten mine in Devon. FINANCES In its audited results for the year ended 31 March 2022, the company said that the agreed financing package through a royalty […]

Finance Metals & Minerals News

Power Metal sells Reitenbach uranium property

Power Metal Resources plc has conditionally sold its 100% owned Reitenbach uranium property east of the Athabasca Basin in Northern Saskatchewan, Canada. TEATHERS FINANCIAL Teathers Financial plc will buy Reitenbach which is one of Power Metal’s ten uranium properties. The investment company was incorporated in the UK on 1 March 1907 under its former name of CA Sperati […]

Finance Metals & Minerals News

Tertiary sells Finnish gold royalty

Tertiary Minerals plc is to sell its royalty interests in the Kaaresselkä and Kiekerömaa gold projects in Finland for CAD$200,000 to Aurion Resources Ltd. USES The binding agreement will also see Tertiary become once more a shareholder in Aurion with the issue of 83,333 common shares in the Canadian company. Tertiary executive chairman Patrick Cheetham […]

Finance Metals & Minerals News

Galantas closes $530,000 loan with Ocean Partners

Galantas Gold Corporation said it had closed the US$530,000 (£435,000) loan agreement with Ocean Partners UK Ltd for its operations at Cavanacaw mine in Omagh, Northern Ireland. DIRECTOR ROLE Ocean Partners is closely associated with Brent Omland, a director of the Canadian mining company. Mr Omland is also chief financial officer of Ocean Partners and […]

Finance News Oil & Gas

IGas repays $4m debt on higher commodity prices

IGas Energy plc has repaid $4 million debt of its reserves-based loan leaving net debt of £8.2m. FLEXIBILITY The company holds $22m (£18.1m) of debt capacity and, as at 29 July 2022, cash balances were £2.4m. “Higher commodity prices continue to drive strong operating cash flow generation giving us financial flexibility,” said chief executive Stephen […]