Power Metal Resources plc’s exploration fieldwork has returned “very significant” copper results at its proposed 12.5% earn-in on Block 8 in the Hazm area, northwest Oman. AL MAIDAR The concession is held by Australian-listed Alara Resources Ltd and Awtad Copper LLC. A review of historical technical, geophysical and geological data has pinpointed an initial five target areas on […]
Metals & Minerals
Red Rock issues 700m shares
Red Rock Resources plc in is talks to sell some of its assets as it issued, in aggregate, 714,055,114 new shares to settle accrued interest, fees, a subscription and a debt. BUYERS A total 54,911,214 shares issued each at 0.041p are for accrued interest on a four-month extension from 18 November 2024 to the term of […]
Red Rock talks on DRC award affected by unrest
Red Rock Resources plc said it remained confident of reaching a settlement on its arbitration award in the Democratic Republic of Congo despite unrest in the country. PRIORITY The company was due to meet its local partner this week to try to reach an agreement. However “military developments” in the east of the country and […]
Kavango issues 1.48bn shares
Kavango Resources plc issued 1.48 billion shares following publication of its prospectus approved by the Financial Conduct Authority. LISTING The shares issue relates to a £10 million fundraise in 2024 involving 938,028,569 and 547,995,076 new ordinary shares, comprised of a conditional placing and convertible loan notes, respectively. Following admission, Kavango’s total issued share capital will […]
Oriole renews Wapouzé for further two years
Oriole Resources plc has secured a further two years for its 85%-owned Wapouzé limestone property in northern Cameroon. INVESTMENT The project lies 20km to the north of the company’s Bibemi gold exploration area. Although initially focused on gold, sampling results in September 2023 showed high grade carbonate material which could be used in the country’s cement […]
UEE appoints Tyler Evans as a director
Uranium Energy Exploration plc has appointed Tyler Evans as a director, with effect from 27 January. Companies House recorded the change to the board, which also comprises Mario Visconti, Power Metal Resources plc chief executive Sean Wade and Andrew Webley.