Corcel plc has exercised its option to acquire 100% ownership of the Mt Weld rare earth elements project within licence P38/4489 near Laverton in Western Australia. LICENCE The project, covering 171 hectares, lies 1.4 km (0.9 miles) with the granted mineral tenement straddling the mine access road to Lynas Rare Earths Ltd’s Mt. Weld mine. Corcel […]
Tag: Corcel plc
Corcel reports increase in costs while losses widen
Corcel plc reported widening losses at the end of year in which it expanded its metals assets in Papua New Guinea (PNG). FINANCES Final audited results for the year ended 30 June 2022 show losses of £2.1 million (2021: 1.2m). Administrative costs rose to £1.26m (2021: 1.0m) reflecting increased insurance costs, professional services costs, share […]
Corcel looks to expand with PNG gold-copper
Corcel plc has applied for a gold-copper tenement covering 464 km2 vacant ground in Papua New Guinea (PNG). TENEMENT The company’s wholly owned subsidiary Niugini Nickel Pty Ltd (NN) submitted the application for a total 136 graticular sub-blocks. The site covers the Star Mountains gold-copper exploration project and has undergone “considerable work” by Highlands Pacific […]
Corcel signs Mt Weld rare earths option
Corcel plc has signed an exclusive 45-day option to acquire 100% of the rare earth element (REE) project within P38/4489, or Mt Weld, near Laverton in Western Australia. FEATURES The granted mineral tenement lies 1.4km (0.9 miles) west-north-west of Lynas Rare Earths Ltd’s Mt Weld mine. The project covers 171 hectares and the mine access road […]
Corcel raises £200,000 via placing to NPC
Corcel plc has raised £200,000 gross from issuing 50,000,000 new ordinary shares of £0.0001 each at £0.004 to its proposed joint venture partner Shangdong New Power COSMO AM&T (NPC). The company has also issued one warrant for every one share exerciseable at £0.005 at any time over the next year. On admission, the company’s total issued share capital will comprise 580,208,295 ordinary […]
Corcel looks to binding deal for Mambare-Wowo Gap
Corcel plc said that its proposed off-take partner had invited the company to move to a binding agreement for supplies from the Mambare (41%) and Wowo Gap (100%) nickel-cobalt projects in Papua New Guinea. AGREEMENT In January 2022, the company signed a non-binding memorandum of understanding (MOU) with Shandong New Powder Cosmo AM&T (NPC). A […]