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 […]
Finance
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 […]
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 […]
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 […]
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 […]
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 […]