Corcel plc said that its partner Battery Metals Pty Ltd (BMA) intends to exercise its pre-emption rights to buy out the company’s 41% interest in the Mambare nickel-cobalt project in Papua New Guinea (PNG). LEGAL The move could hinder Corcel’s new joint venture Integrated Battery Metals (IBM) announced on 1 March to hold its PNG assets […]
Tag: Corcel plc
Corcel exercises option to acquire Canegrass lithium
Corcel plc has exercised its option to acquire the Canegrass lithium project in Western Australia. LOW COST The company signed a 30-day option period in February and, as agreed, will now issue vendor Huntsman Exploration Inc with 50,000,000 new ordinary shares at £0.004, equating to a total £200,000. “Building upon our recent acquisition and farm-out […]
Corcel completes £1m placing with cornerstone investor
Corcel plc has completed a placing for £1,055,515 with an oil and gas focused cornerstone investor group. USES The fundraising was at a price of £0.0035, representing a 11% premium to the closing price of 27 March 2023 and a 16.6% premium to the 30-day VWAP. Corcel issued 301,575,574 new ordinary shares of £0.0001 to a […]
Corcel renews Wowo Gap cobalt-nickel licence
Corcel plc has renewed its exploration licence 1165 to February 2024 for its 100% owned WoWo Gap cobalt-nickel project in Papua New Guinea. DEVELOPMENT The asset is part of the company’s recently announced restructure into an Asian-based joint venture. Corcel said it had of late focused on meeting commitments for the licence, which lies 200km from […]
Corcel signs 30-day option for Canegrass lithium
Corcel plc has signed an exclusive 30-day option to acquire 100% of the lithium rights of the Canegrass project in Western Australia. CANEGRASS The project, comprising several granted mineral tenements, extends over part of the Windimurra Igneous Complex, a large differentiated layered ultramafic to mafic intrusion within the Yilgarn craton. Canegrass is a conical to sheet-like […]
Corcel at advanced stage of Brazil mining-oil-gas deals
Corcel plc plans to extend its natural resource exploration and development reach to South America with a focus on Brazil, as part of its revised business strategy. MULTIPLE DEALS The company said it had been “actively screening industrial opportunities” for more than 12 months and was at an “advanced stage on multiple transactions across both mining and […]