Finance Metals & Minerals News

Conroy to raise £259,000 in discounted fundraise

Conroy Gold and Natural Resources plc is to raise £259,000 via a 27% discounted placing and subscription for a total 5,452,631 ordinary shares in the company. DIRECTORS The placing raised £87,500 through the issue of 1,842,105 new ordinary shares of €0.001 each at a price of 4.75 pence. The subscription of 3,610,526 new ordinary shares […]

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IOG extends administration period

IOG plc, operator of the Saturn Banks gas project in the southern North Sea, has entered a 12-month extended period of administration. The company last year faced rising costs along with demands to repay postponed interest under a €100 million senior secured bond. IOG appointed administrators in October 2023. Companies House recorded the extension, with […]

Finance Metals & Minerals News

CRL to co-lead research at new £4.5m centre

Cornwall Resources Ltd will use its Duchy licence as a “physical laboratory” to develop new ideas and sustainable extraction focused on tin, tungsten, lithium and other “critical minerals”. FUNDING The company said it would co-lead one of the trans-disciplinary work packages within the £4.5 million Green Economies Centre based at the University of Exeter and […]

Finance News Oil & Gas

Viura-1B initial drill results exceed expectations

Prospex Energy plc reported “better than expected” preliminary results from drilling the Viura-1B development well in northern Spain. GAS SHOWS Drilling began on 22 June and has reached the reservoir with operations due to begin appraisal of a deeper section of the well.  The company said that deeper appraisal could “significantly” increase revenues and create […]

Finance News Oil & Gas

Borders & Southern raises £1.5m

Borders & Southern Petroleum plc has raised £1.5 million before expenses by issuing 100m new ordinary shares at a 16.67% discounted price of 1.5 pence per new ordinary share. DIRECTORS DEALINGS The fundraise comprised placing 69,666,666 ordinary shares and subscription of 30,333,334 ordinary shares. Non-executive chairman Harry Dobson subscribed for 28m shares taking his total […]

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Hummingbird mulls selling non-core assets

Hummingbird Resources plc has secured a US$30 million loan as it initiates an independent review of its West Africa operations, including the possible sale of its non-core assets. KOUROUSSA The company’s largest shareholder CIG SA lent $20 million, payable in tranches, and consolidated a previous US$10 million short-term loan. Hummingbird said it anticipated changing the […]