Oriole Resources plc has conditionally raised £400,000 comprising an equity raise, directors’ subscriptions and a salary sacrifice scheme. FUNDRAISE The fundraise comprises £300,000 in a placing and £40,000 from subscriptions by certain directors through the issue of 188,888,888 new ordinary shares at the placing price of 0.18 pence per share, equal to a 14% discount. […]
Finance
Galantas raises $500,000 in warrant exercises
Galantas Gold Corporation received gross proceeds of CAD$503,600 after receiving notices to exercise by the company’s former president and chief executive. The early exercise of 920,000 warrants was at an exercise price of CAD$0.33 by G&F Phelps Ltd, a company wholly owned by Roland Phelps. The company received a further notice to exercise 500,000 warrants […]
Orcadian to raise £1 million via placing
Orcadian Energy plc said it is to raise £1 million gross through the placing of 2,857,143 ordinary shares to certain institutional and other investors at a price of 35 pence per share. DIRECTOR DEALING Chief financial officer Alan Hume has subscribed for 228,571 placing shares for £80,000, taking his total held to 4,036,960, representing 6.1% of the enlarged […]
Cora Gold retains Lionhead support for Sanankoro
Cora Gold Ltd said that its lead investor would continue its support even if the company missed the deadline for a definitive feasibility study (DFS) at the Sanankoro gold project in southern Mali. LIONHEAD In September 2021, Lionhead Capital Advisors Proprietary Ltd and Cora entered a US$25m mandate and term sheet to fund the development […]
Cornish Lithium to receive further £9m
Cornish Lithium Ltd said that TechMet Ltd will invest a further £9 million at 20 pence per share, following the scoping study for the Trelavour hard rock lithium project. SCOPING STUDY The option is the second tranche of TechMet‘s £18m funding package announced in November 2021. The scoping study sets out the design and economics […]
Cadence looks to future value after losses
Cadence Minerals plc swung to a loss during 2021 but said its assets, particularly iron ore and lithium, would perform well in the future. FINANCES In its annual results for the year ended 31 December 2021, the company reported a loss of £0.14m (2020: £7.82m profit) due to reduced realised and unrealised profits and losses for […]