Tullow Oil plc has secured a $400 million five-year debt facility and off-take contracts with Glencore Energy UK Ltd. BUSINESS PLAN The Africa-focused company will be able to draw down funds over a period of 18 months to manage its senior notes maturing in March 2025. Tullow has also signed oil marketing and offtake contracts with Glencore for […]
Tag: finance & funding
Red Rock raises £500,000 via CLNs
Red Rock Resources plc raised £500,000 from issuing convertible loan notes, each at a price of £10,000. As of 19 October, £210,000 had been raised before expenses by subscription to 21 notes, closing the first tranche of the notes issue. The company will use net proceeds for its gold project in Kenya, lithium assets in […]
Araguaia costs to rise 35% with first production delayed
Horizonte Minerals plc anticipates at least a 35% increase in overall capital expenditure and a delay to first production at its Araguaia nickel project in northeast Brazil. FINANCING The company said it was making “good progress” on the final detailed engineering and construction design for Line 1 but a review of costs for the design […]
Scotgold could appoint administrators ‘over coming days’
Scotgold Resources Ltd said it could appoint administrators over the coming days after a prospective investor withdrew from financing discussions for the Cononish gold-silver mine. The Australian company, which last week put some of its staff on unpaid leave, also faces action from an unnamed creditor. In a statement today, Scotgold said: “The company has […]
Cornish Lithium raises £5.1m via crowdfunding
Cornish Lithium plc has raised £5.1 million via crowdfunding for its projects in Cornwall. Funds will advance its Trelavour hard rock project and complete the engineering design work for a demonstration-scale geothermal waters extraction facility.
Helium One applies for 45m shares to trading
Helium One Global Ltd has applied for admission to trading 45,022,104 ordinary shares of no par value each in the capital of the company. The company said it would issue new ordinary shares “from time to time to satisfy certain options and warrants issued to the company’s directors, management, staff and other various stakeholders”. The […]