Deltic Energy plc needs to find £15 million for its share of costs for the Pensacola discovery or withdraw from the project if it fails to find a farm-in partner by the end of May. CAPITAL The company also warned it might not be able to obtain alternative sources of capital or on acceptable terms. […]
Tag: finance and funding
Kavango raises £3m via Purebond support
Kavango Resources plc has raised £3,085,366 by issuing 257,113,862 new ordinary shares in the capital of the company at a price per share of 1.2 pence, via an underwritten accelerated bookbuild. DIRECTORS The company’s major shareholder Purebond Ltd, which subscribed for 221,213,862 new ordinary shares, underwrote the accelerated bookbuild. Purebond’s previous May 2023 investment in […]
WCM needs ‘substantial’ additional funds
West Cumbria Mining Ltd said it would need “substantial” additional financing to develop and construct its underground coal mine and Woodhouse colliery in Whitehaven, Cumbria. EXPECTATION WCM’s 2023 annual report states that as at 31 December 2023, the group held cash reserves of £6.8 million which had fallen to £5.6m as at 5 April 2024 […]
Ascent to appoint David Bullion as NED
Ascent Resources plc intends to appoint David Bullion as a non-executive director, among other board changes, as the company adds the mid-stream sector to its portfolio. Mr Bullion is CIO of American Helium and CEO of GNG Partners LLC, before which he held senior positions across the world during his 20 years with BP. Ascent […]
Horizonte could sell Araguaia as funding talks fail
Horizonte Minerals plc could sell its Araguaia nickel project in northeast Brazil, resulting in a loss for shareholders, after full funding talks failed. NICKEL MARKET The company added it had been unable to secure interest in the full financing needed, citing investors concerns over the nickel market. Horizonte’s options now include raising financing at the […]
GreenRoc receives $3.5m LoI
GreenRoc Mining plc said it had received a letter of intent for up to US$3.5 million from the Export-Import Bank of the United States. APPLICATION Valid until 14 April 2025, the LoI shows the US EXIM Bank’s willingness to consider financing GreenRoc for US export contracts relating to goods and services ordered by the company. […]