Power Metal Resources plc has signed an option agreement, with a down payment on drilling, to acquire a 100% interest in two gold-nickel prospecting licences in the Tati Greenstone Belt (TGB), northeast Botswana. Following a 60-day period of due diligence, Power Metal may exercise the option through its newly formed 100% owned subsidiary Power Metal […]
Tag: extractive industries
Erris encouraged by Lead Trial scout drilling
Erris Gold Resources Ltd said it had finished scout drilling of six holes at the Lead Trial prospect in Perthshire. The company completed the drilling last week and the rig has now left the site. Erris said that its geologists were ‘very encouraged’ by the core and are awaiting assay results ahead of a major […]
Scotgold to use £2m director loan in two tranches
Scotgold Resources plc has provided a short-term director loan of £2 million for its subsidiary, SGZ Cononish Ltd (SCL), operating the gold mine near Tyndrum, Scotland. The loan was offered following delays in increasing production at the Cononish gold and silver mine. Nathaniel le Roux, William ‘Bill’ Styslinger, Peter Hetherington and Ian Proctor, together with […]
Helium One prepares to drill Tai prospect
Helium One Global Ltd said it had identified new priority drill-ready targets ahead of its drill campaign in June at the Rukwa project in Tanzania. The news comes as the miner completed its extended 200km infill 2D seismic campaign which began in February. Data acquisition commenced in mid-March and, following encouraging results, a further 50 line kilometres was […]
Altona nears end of Chambe due diligence
Altona Rare Earths plc said it was in the final stages of the due diligence process for its proposed acquisition of the Chambe ionic clay rare earths project in Malawi. LSE STANDARD MARKET The company added that in April it had started the application process for listing on the Standard Market of the London Stock […]
Chesterfield trebles cash reserves
Chesterfield Resources plc reported that its cash position trebled last year while pre-tax losses rose for its copper-gold-zinc-silver assets in Cyprus. In its annual report and financial statement for the year ended 31 December 2020, the group reported cash of £2,438,856 (2019: £748,596) with pre-tax losses of £871,261 (£536,121). In June 2020, the group added […]