Cadence Minerals plc expects to see increased value for its portfolio of assets as its investee lithium company nears the start of trading in Australia. EVERGREEN The company today said that Evergreen Lithium Ltd had filed its prospectus with the Australian Securities & Investments Commission and the Australian Stock Exchange. Cadence owns approximately 15.8 million […]
Tag: Australia
Red Rock losses rise from Africa-Australia costs
Red Rock Resources plc reported an increase in losses of more than £1 million from its interests in Africa and Australia. FINANCES The company’s final audited results for the year ended 30 June 2022 showed that it had yet to generate revenue from its operations. Pre-tax loss of £2,800,000 (2021: loss of £1,699,000) was attributed […]
Cadence completes sale of Australian lithium assets
Cadence Minerals plc has completed the A$21.05 million (£12.08m) sale of its 31.5% stake in Lithium Technologies and Lithium Supplies (LT and LS) to Evergreen Pty Ltd. TRANSACTION Cadence received an initial AS$3.16m (£1.81m) in Evergreen shares and, subject to Evergreen achieving performance benchmarks, will receive in total A$6.63m (£3.8m) Evergreen will spend a minimum of A$4m over […]
Power Metal subsidiary in Australia raises £1.1m
Power Metal Resources plc said its subsidiary First Development Resources Ltd (FDR) had raised £1,125,000 ahead of planned listing in Q3 2022 on the London capital markets. FDR FDR is focused on gold-copper, uranium-rare earth element and potential lithium targets in Western Australia’s Paterson Province and the Northern Territory. Money raised will allow FDR to self-finance its operations including IPO listing advisory […]
Altus revenue reaches $1.7m from Newcrest royalties
Altus Strategies plc reported copper and gold royalty revenues of US$1.7 million (pre-tax) in the first quarter since acquiring the royalties portfolio from Newcrest Mining Ltd. INTERESTS The company currently owns 33 royalty interests including royalties on four producing mines of the Caserones copper mine in Chile, the South Kalgoorlie Operations (SKO) gold mine and […]
Power Metal prepares for Wallal drill contractor
Power Metal Resources plc has completed a desktop study and survey ahead of negotiations for a drill contract at its gold-copper Wallal project in the Paterson Province, Western Australia. LICENCES The company’s portfolio is through First Development Resources Ltd (FDR) and includes the Wallal tenements, Braeside West and Ripon Hills projects. Power Metal has a current effective interest of […]