Alba Mineral Resources plc has exercised the earn-in option to acquire the Finnsbo rare earth project in eastern Bergslagen in Uppland, eastern Sweden. INTEREST The completed transaction involves payment to the project owners of £7,500 in cash and £7,500 in 30,512,612 Alba shares. Following admission the company will have 10,941,721,949 ordinary shares in issue, with […]
Tag: extractive industries
CMR to expand Morocco trading arm
Critical Mineral Resources plc aims to expand its Morocco joint venture trading arm from low-risk, short-term deals to multiple small mines with “good tonnage and high-grade products”. RURAL The company will also widen its target range of metals and include potentially industrial minerals. CMR has started discussions with “a number of potential providers” for additional […]
Serica production hit by longer delay
Serica Energy plc’s 2024 production fell slightly below the expected decrease due to longer delays following problems with the Triton FPSO vessel. COMPRESSORS The annual average totalled 34,600 boepd, less than December’s forecast of 35,000 to 36,000 boepd. The company said that a subsea intervention last year on the Bruce platform to ensure “enhanced production […]
Union Jack-Reach spud Moccasin 1-13 well
Union Jack Oil plc joint venture partner has spud the Moccasin 1-13 well, located in Seminole County, Oklahoma, USA. ZONES Operator Reach Oil and Gas Company Inc will drill the well, the partnership’s fourth, to a target depth of 5,500 feet. Union Jack, with a 45% working interest, said it had already met its costs […]
Beacon becomes cash shell after assets sale
Beacon Energy plc today became an AIM Rule 15 cash shell after creditors sold certain assets belonging to its German subsidiary to a third party, signalling the start of its liquidation. TRADING Rhein Petroleum GmbH had debts of €7.5 million following a poor show at the Erfelden field in Hessen and lack of “very significant […]
Condor shareholders approve sale
Condor Gold plc’s sale to Metals Exploration plc was today overwhelmingly approved by shareholders. HIGH COURT At a court meeting shareholders, together representing more than 75% of the voting rights, agreed to the sale by 99.41%. At a general meeting a total of 99.37% also voted in favour of the proposed transaction. Completion of the […]