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: extractive industries
UKOG becomes debt free
UK Oil & Gas plc has fully repaid the balance of the convertible loan facility with RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. The company, with assets in the UK and Turkey, said it was now debt free. The £2m loan dated from 2023.
Crogga appoints new directors
Crogga (UK) Ltd has appointed two new directors while a third directorship has ended. Companies House recorded that Mark Pearce and John Lovelady became directors on 12 June. Richard Donoghue’s appointment as a director ended on the same date. The company is targeting the Crogga gas field, offshore Isle of Man.
Prospex secures 10 more years for El Romeral
Prospex Energy plc has secured a 10-year extension to the El Romeral natural gas production joint venture near Carmona east of Seville in Spain. CAMPAIGN The company has a 49.9% working interest and Warrego Energy Ltd has 50.1% in the El Romeral power plant, operated by Tarba Energia S.L to generate electricity. Warrego is now […]
Arkle survey indicates Makgadikgadi brines
Arkle Resources plc said survey analysis across its two Makgadikgadi blocks indicated the presence of a conductive layer, expected to be brines, averaging 30 metres deep. SAMPLING Four wide spaced transient electromagnetic lines were completed across the near 1,000 km2 area in the salt pans of northeast Botswana, with results pending. Samples of the brines […]
EGT encouraged by Limni sampling
European Green Transition plc reported “encouraging” results from diligence sampling at its copper tailings recycling option at the past producing Limni mine in western Cyprus. PROGRESS From 68 samples, the company found acid soluble copper ranging from 0.41% to 0.92% in crusts, “clearly” demonstrating the presence of copper in water at surface. EGT said that […]