Red Rock Resources plc aims to finalise its $10 million arbitration award either this week or next in the Democratic Republic of Congo. PROGRESS The company said it expected an initial $2.5 million from its local partner with $7.5m pending. The figures represent 50.1% of what was received by its partner from the buyer and […]
Legal
Galantas cancels shares-warrants for marketing firms
Galantas Gold Corporation has cancelled shares and warrants issued to two marketing companies instead of payment in cash on order of the TSX Venture Exchange. CHIEF EXECUTIVE In March 2023 the company engaged Grit Capital Corp for 26 weeks to conduct advertising campaigns for a fee of US$65,000 plus HST*. Galantas paid Grit an initial […]
Red Rock offered Central America oil and gas assets
Red Rock Resources plc said it had been conducting due diligence on a private offer of “some promising hydrocarbon assets” in Central America. PROGRESS Chairman Andrew Bell added that the assets had the potential to restore the company’s “nine-year-old oil and gas function”. “We are always ready to look at highly prospective projects, especially ones […]
Kavango extends Hillside option to review tax changes
Kavango Resources plc has agreed a 90-day extension to the Hillside gold option in Zimbabwe in order to review changes to tax laws. UNCERTAINTY The company said that, based on technical data gathered from exploration including initial core review, it had intended to exercise the option today. The extension follows uncertainty over the impact of […]
Ascent faces U-turn ruling on partner’s insolvency
Ascent Resources plc faces an “unprecendented situation” after its Slovenia joint venture partner Geoenergo d.o.o. received approval to enter insolvency. REDRESS Ascent previously sought legal advice to stop the move and said that the court had not accepted Geoenergo’s creditor position and not approved the self-declared insolvency application. A hearing had been due on 23 […]
Ascent Slovenia stops partner’s insolvency move
Ascent Resources plc has stopped its Slovenia joint venture partner, subject of an arbitration tribunal over funds owed, from entering self-declared insolvency. ABUSE In October 2023, the tribunal ruled Ascent’s entitlement to proceeds above the baseline production profile from all wells in the Petišovci onshore gas concession area. The company said its subsidiary Ascent Slovenia […]