Power Metal Resources plc has extended the due diligence period for the creation of a uranium-focused joint venture in Canada. PROGRESS The June agreement for the company’s entire Saskatchewan portfolio with ACAM LP includes a £2m subscription and a £10m non-binding term sheet. Power Metal holds 16 properties over a combined 92,407ha (924.07km2), surrounding and within […]
Tag: due diligence
Reabold warns of shares suspension under new directors
Reabold Resources plc warned it could be suspended from trading if shareholders approved proposed board directors without completion of due diligence. NOMAD Pershing Nominees Ltd requisitioned a general meeting, set for 10 January, on behalf of several beneficial shareholders for resolutions to remove and replace Reabold directors. Reabold added that its nominated advisor Strand Hanson […]
Red Rock opens talks on lithium sales to China
Red Rock Resources plc could have a potential mining/partner contract for its Zimbabwe lithium assets as the company also starts talks with agents in China on lithium ore sales. HIGHER PRICES From 10 to 14 August, a South African consultant geologist conducted due diligence on the site with the company’s subsidiary African Lithium Resources (Pvt) […]
Altona rules out Nankoma project
Altona Rare Earths plc has decided against exercising its option to acquire 51% of Leadway Group Ltd because it was unable to complete due diligence on the Nankoma project in Uganda. The company today said that Nankoma, a greenfield project, was considered a low-interest acquisition target by the board because there was no historical exploration data […]