Cornish Metals Inc ended last year with a significant increase in cash despite nearly doubling losses at its copper-tin project in Cornwall. FINANCES The Canadian company published its annual results on the same day it announced that Sir Mick Davis‘s Vision Blue Resources Ltd will be the ‘controlling person’ with the completion of a £40 […]
Finance
Altus Strategies to sell 30.1% stake in Alpha 3 SPV
Altus Strategies plc plans to reorganise its Australia portfolio with the sale of a 30.1% interest in Alpha 3 SPV Ltd for $5,267,500 in order to expand its Africa assets. PROCEEDS Alpha 3 is incorporated in the United Arab Emirates and owns a portfolio of 23 mining royalties in Australia, acquired from Newcrest Mining Ltd. […]
Cornish Metals shareholders back VBR control for £40.5m
Cornish Metals Inc said its shareholders had accepted Vision Blue Resources Ltd (VBR) ownership of up to 43% to secure £40.5 million for the South Crofty tin-copper project. RESOLUTIONS The Canadian company added that the Secretary of State had confirmed no action would be taken under the UK National Security and Investment Act 2021 in […]
Anglesey raises £864,416 via placing-subscription
Anglesey Mining plc said it had raised a total of £864,416 gross proceeds from a placing and subscription. DEBT RESTRUCTURING A placing of 22,829,705 ordinary shares with institutional and other investors at a price of 3.4 pence per share raised £776,210. Chairman John Kearney and chief executive officer Jo Battershill subscribed for an additional 2,594,284 […]
Union Jack confident after ‘financially transformational’ year
Union Jack Oil plc said it remained highly positive for the future following a nearly 12-fold increase in profits from its exploration and production assets in the UK. FINANCES The company’s audited results for the year ended 31 December 2021 showed revenues rose nearly 12-fold to £1,894,875 (2020: £158,004) from production at Wressle, Keddington oilfield […]
Altus’ loan facility with La Mancha extended by six months
Altus Strategies plc said that the maturity date of the strategic loan facility from La Mancha Fund SCSP has been extended by six months to 31 December 2022. FLEXIBILITY The company added that all other terms of the facility remain unchanged. La Mancha is Altus’ largest shareholder, owning 35.08% of the issued share capital. “The […]