West Cumbria Mining Ltd (WCM) has submitted two licence variations to applications for its proposed deep coal mine under the Irish Sea off the coast of Cumbria. DECISION On 15 January 2021, the Coal Authority received from the company an application for a conditional underground licence – variation for Whitehaven Offshore No.2 Area and for […]
Tag: extractive industries
Altona raises new funds after £11m impairment
Altona Energy plc recorded £11 million impairment of historic Australian coal assets as the company continues its transformation into an African-focused rare earths miner. For the year ended 30 June 2020, Altona reduced loss before taxation to £228,000 compared with £11.6m during 2019. The impairment of the intangible assets of £11,033,000 was due to Altona […]
Altona Energy share placing to raise £523,000
Altona Energy plc announced it had received subscription letters in respect of a further fundraising of approximately £523,000 before expenses, at an issue price of 6.5 pence per share. The company today said it had received £168,214 from the new investors and issued 2,587,909 new ordinary shares. The balance of the funds, £355,139, is expected […]
Power Metal looks to increase Ontario assets
Power Metal Resources plc plans to increase its interests in Ontario just days after the company’s acquisition of gold projects in the Canadian province. FOOTPRINT The company has signed a 30-day option for four gold exploration properties in the Hemlo-Schreiber greenstone belt for a total C$260,000. McKellar comprises 58 mining claims over 12.3km² prospective for […]
JOG’s new analysis shows 50% increase in Buchan estimate
Jersey Oil & Gas (JOG) announced that a new analysis showed a “significant” increase in 2C contingent resource estimate for the Buchan oil field within the Greater Buchan Area (GBA) in the Central North Sea. BUCHAN FIELD The independent upstream hydrocarbon company reported 126 million stock tank barrels (MMstb) of the P50 estimate of technically recoverable […]
Power Metal raises £97,737 via warrant exercise
Power Metal Resources plc said it had received £97,737 subscription monies following notices to exercise warrants over 12,631,578 new ordinary shares of 0.1 pence each in the company (warrant shares). The warrant shares are being issued pursuant to the exercise of 12,631,578 warrants at an exercise price of 0.75 pence per ordinary share of 0.1 […]