Hurricane Energy plc said it would soon clear its debts on the back of high oil prices and steady production at its Lancaster field, west of Shetland. PRODUCTION As of 16 July 2022, Lancaster was producing c.8,650 bopd from the P6 well alone with an associated water cut of c.46%. The company said that there […]
Finance
Anglesey PFS shows Grängesberg potential
Anglesey Mining plc said that the Grängesberg iron ore project in Sweden could resume mining as one of Europe’s largest individual producers of iron ore concentrates. PRODUCTION Micon International’s revised pre-feasibility study shows post-tax net present value (NPV) of US$688 million, based on 2.3 – 2.5Mtpa of iron ore concentrate production grading 70% Fe. Post tax […]
Tungsten West targets low cost mine operations
Tungsten West plc said it is to start construction immediately with lower-cost and streamlined production scheduled for H1 2023 at the Hemerdon tin-tungsten mine in Devon. INFLATION The decision follows a three-month technical and commercial re-evaluation of options for restarting production, which lead to a new development plan. The new plan is also in response […]
Power Metal receives £35,000 via warrant exercise
Power Metal Resources plc received notice to exercise warrants over 4,631,515 new ordinary shares of 0.1 pence each in the company at an exercise price of 0.75p per warrant share, for £34,736. Following admission, Power Metal’s issued share capital will comprise 1,502,733,450 ordinary shares of 0.1p each.
Condor receives £22,916 via warrant exercises
Condor Gold plc received total gross proceeds of £22,916.30 following notices to exercise warrants from CEO and executive chairman Mark Child and another shareholder. The company said it was issuing a total of 91.666 new ordinary shares with a nominal value of 20p each in the capital of the company at an exercise price of […]
Tertiary terminates Pyramid silver-gold project
Tertiary Minerals plc said it had terminated its Pyramid silver-gold project in Nevada, USA. PRIORITIES The move comes after drilling earlier in the year, which failed to show significant results at the North Ruth target. Executive chairman Patrick Cheetham added that decision followed positive results from Jacks copper project in Zambia and a company review […]