Corcel plc has started a seven-hole reverse circulation (RC) drill campaign at the joint venture Mt Weld rare earth elements project near Laverton in Western Australia. PROGRAMME A sub-contractor for the company and its partner Riversgold Ltd will drill a total 2,000m on tenement P34/4489. The site’s four discrete undrilled magnetic features, interpreted to represent potential […]
Tag: Corcel plc
Corcel receives first tranche of £300,000 from placing
Corcel plc has received the initial £300,000 subscription of the total £1 million placing held at the end of March 2023. The company said it had used £100,000 of the amount received from its cornerstone investor to reduce its outstanding debt balance.
Corcel’s partner plans to buy 41% of Mambare
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 […]
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 […]