Critical Mineral Resources plc’s chairman has agreed to acquire the balance of the July convertible loan notes. VOTING RIGHTS Dominic Traynor will purchase in cash £325,619.17 of the balance due under the loan notes from the loan note holders. Under the terms of the CLNs, Mr Traynor will convert the balance into 29,601,743 new […]
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Ascent acquires 49% in Utah-Colorado licences
Ascent Resources plc has acquired a 49% interest in 119,000 acres of helium-rich oil and gas licences in the Paradox Basin across Utah and Colorado, USA. ZONES The US$2 million acquisition, supported by a $475,949 fundraise at a 203% premium, is from Houston-based operator American Helium LLC. Ascent will pay $1.75m with 27,650,000 new Ascent […]
Kavango secures £10.27m financing
Kavango Resources plc has secured strategic financing of £10,277,868 comprising a placing and convertible loan notes. LISTING The placing of 938,028,569 new ordinary shares of £0.001 each at 0.7 pence per share will raise £6,566,200, subject to a Financial Conduct Authority approved prospectus and shareholders. The company’s deputy chairman Peter Wynter Bee has additionally agreed […]
EGT positive on final drill results from Olserum
European Green Transition plc reported positive results from the final five drill holes at the Olserum rare earth element project in Sweden. TARGETS The company, which previously confirmed the district-scale potential of its licence, has intersected mineralisation in all 13 drill holes. Recent results are for three holes at Djupedal prospect and two holes from […]
Fulcrum increases gold recoveries at Sylvanite
Fulcrum Metals plc has increased gold recoveries by up to an “exceptional” 63% for phase I at the Sylvanite gold tailings project in Kirkland Lake, Ontario. POTENTIAL A significant reduction in leach times of up to 94% was also recorded. The company is testing Extrakt Process Solutions LLC’s processing non-toxic technology through a four-phase programme. The […]
Europa ends Whisby 4 royalty agreement
Europa Oil & Gas (Holdings) plc has ended the royalty agreement over the Whisby 4 well in East Lincolnshire with operator and licence holder BritNRG. UNCERTAINTIES The company said the agreement had generated no income for it and that the North Kesteven project would need further investment for a potential cash return. The carrying value […]