Egdon Resources plc has repaid the £1 million facility loan to Union Jack Oil plc and recorded £2m revenue from its onshore oil projects. FINANCES The company’s unaudited report for Q3 of its financial year (February to April 2022) showed revenue of £2.23m (2021: £0.31m and H1 2022: £2.55m). Egdon said that revenue was primarily […]
Finance
Tertiary records £600,000 losses from copper projects
Tertiary Minerals plc reported operating losses of £604,213 from its copper portfolio in Nevada and Zambia. FINANCES The company’s unaudited results for the six-month period ended 31 March 2022 showed an impairment of £361,379 relating to the Pyramid gold-silver project in Nevada. This followed reverse circulation drilling at the project failing to demonstrate mineralisation at […]
Angus to acquire remaining Saltfleetby stake for £14m
Angus Energy plc has signed an agreement to acquire the remaining share from its joint venture partner in the onshore Saltfleetby gas project in east Lincolnshire. SUBSCRIPTION The company will acquire the entire issued share capital of Saltfleetby Energy Ltd (SEL), which owns a 49% working interest in the project, from the seller Forum Energy […]
Power Metal receives £18,750 through warrant exercise
Power Metal Resources plc said it had raised £18,750 after receiving notices to exercise warrants over 2,500,000 new ordinary shares of 0.1 pence each. These were at an exercise price of 0.75p per warrant share.
Scotgold repays Bridge Barn loan with revenue from gold sales
Scotgold Resources Ltd has repaid the short-term loan plus interest from Bridge Barn Ltd with just over £1 million revenue from its April 2022 gold concentrate sales. Bridge Barn is owned and controlled by one of Scotgold’s non-executive directors Nathaniel Le Roux. The Australian company used the £250,000 for working capital requirements affected by shipment […]
Scotgold receives first £1.2m tranche of Fern Wealth loan
Scotgold Resources Ltd said it had received and completed the first tranche of the new loans drawn down for £1.2 million from Fern Wealth GmbH. TRANCHES The amount is part of the £3m deal agreed with the syndicate of high net worth individual during April 2022, with the remaining £1.8m drawdown on or before 30 […]