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 […]
Tag: Corcel plc
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 […]
Corcel refines targets for inaugural drill at Mt Weld JV
Corcel plc’s joint venture partner has refined existing drill targets in preparation for an inaugural drill campaign at the Mt. Weld rare earth elements project near Laverton in Western Australia. MULTIPLE TARGETS Riversgold Ltd completed 3D inversion magnetics work had confirmed the validity of multiple magnetic targets and allowed refined planning for drilling, said Corcel. The […]
Corcel chairman swaps four months’ salary for shares
Corcel plc’s chairman will for four months receive shares in lieu of a monthly salary to reduce the company’s cash burn and ensure alignment with its shareholders. The company agreed to James Parsons’ proposal that beginning in February he will receive his monthly salaries and certain obligations from 2021 in the form of 16,910,618 new […]
Corcel completes debt restructuring to focus on Mt Weld
Corcel plc said it had refinanced its debt totalling £673,348 with lenders Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. REPAYMENTS The company will pay £235,671 cash in the coming three months and a 5% refinancing fee will be added to the outstanding balance. The remaining £471,343 will be subject to a twelve-month […]
Corcel agrees farm-out and JV for Mt Weld
Corcel plc has signed a farm-out and joint venture agreement for its recently acquired rare earth elements (REE) project at Mt Weld in Laverton, Australia. MT WELD In early December 2022, the company acquired licence P38/4489 holding a granted mineral tenement, located 1.4km (0.9 miles) west-north-west of Lynas Rare Earths Ltd’s Mt Weld REE mine. […]