Power Metal Resources plc has reduced the number of its shares in issue from 2.2 billion to 100m after receiving approval at yesterday’s general meeting. Shareholders voted 80.05% in favour and 19.95% against to consolidate every 20 ordinary shares of 0.1p each in issue into one new ordinary share of 2p each. Following admission, Power […]
Tag: finance & funding
i3 Energy secures new CA$75m credit
i3 Energy plc has re-financed its existing CA$57m loan with a CA$75 million reserve-based credit facility. VALIDATION The new senior secured credit with a Canadian chartered bank comprises a $55m revolving facility and a $20m operating loan. The agreement also see repayment of $57m, which is the outstanding balance of i3 Energy’s existing $75m loan […]
Clontarf raises £400,000 via placing
Clontarf Energy plc has raised £400,000 before expenses via a placing of 1,142,857,143 new ordinary shares of 0.01p each in the company at a price of 0.035p per placing share. The placing shares represent approximately 18% of the company’s issued share capital as enlarged by the placing. Following admission, Clontarf will have a total of […]
Cadence aims to cut costs and extend Amapá
Cadence Minerals plc expects to save costs and could extend operations at the Amapá iron ore project in northeast Brazil. FINANCING Nearly complete optimisation studies will reduce plant capital expenditure and an additional processing flow sheet aims to increase product quality to 67% iron ore concentrate. This contrasts with the previously proposed 62% and 65% […]
Clontarf progresses bid to extract lithium in Bolivia
Clontarf Energy plc has made progress in the bidding process for direct lithium extraction from seven priority salt pans in Southern Bolivia. FINANCING The company’s joint venture with NEXT-ChemX Corporation proposes a pilot plant in partnership with state-owned lithium company YLB* by the end of 2024. On 4 March Clontarf submitted its qualification materials to YLB […]
Colle Santo could qualify for Italian funding
The Colle Santo gas project could be in line for Italian government financial assistance after it was seen to meet the country’s energy and economic needs. INCENTIVES Project partner Reabold Resources plc holds 26.1% of LNEnergy Ltd which has an option to acquire 90% of the field. Reabold said that the Ministry of Environment and Energy […]