Hartshead Resources NL has submitted a new development programme with lower costs for the Anning and Somerville gas joint venture within P2607 in the UK southern North Sea. FUNDING Each field will retain an unmanned production platform and three production wells. Changes include the export of gas from Somerville through a 24 inch pipeline to […]
Tag: finance and funding
Metals extends £5.5m bridging term loan
Metals Exploration plc has extended the term of its £5.5 million unsecured bridging term loan facility with Drachs Investments No 3 Ltd to 31 March 2025. The company agreed the December 2024 loan in connection with its acquisition of Condor Gold plc. Drachs holds 12.4% of Metals’ issued share capital.
Kavango issues 1.48bn shares
Kavango Resources plc issued 1.48 billion shares following publication of its prospectus approved by the Financial Conduct Authority. LISTING The shares issue relates to a £10 million fundraise in 2024 involving 938,028,569 and 547,995,076 new ordinary shares, comprised of a conditional placing and convertible loan notes, respectively. Following admission, Kavango’s total issued share capital will […]
Panther raises £455,000 via discounted placing
Panther Metals plc has raised £455,000 via a conditional 37.5% discounted placing of 910,000 ordinary shares of no par value at 50 pence per placing share. DOTTED LAKE The placing is subject to publication of a prospectus, expected in mid-February 2025. Each placing share will have one warrant attached to subscribe for one new ordinary share at a […]
Tungsten West raises £2.8m via CLNs
Tungsten West plc conditionally raised £2.8 million by adding a further tranche to its existing 2023 convertible loan notes. HEMERDON Certain existing CLN holders subscribed for tranche G in part A for £1.9 million and part B for £900,000. The company also proposes a “major” capital raise expected from the beginning of Q2 2025 which […]
Hummingbird secures further loan
Hummingbird Resources plc has increased its debt with a US$5 million unsecured interest-free loan from its major investor CIG SA. Funds will be used to pay the first instalment to the Government of Mali, where the company owns the Yanfolila gold mine. The loan has a fixed $2.8mn royalty payable between 1 March 2025 and […]