Galantas Gold Corporation has agreed a £347,000 loan from major shareholder Melquart Ltd for the initial lease payment for the recently acquired Gairloch project in Scotland. TERMS The Canadian company is targeting the gold-bearing volcanogenic massive sulphide deposit on land owned by the Gairloch Estate in Wester Ross in the North-West Highlands. The loan is […]
Tag: finance & funding
Block secures $1m loan to accelerate West Rustavi
Block Energy plc has closed a senior secured loan of US$1.06 million (£860,000) with various existing shareholders and two of its management. RELATED PARTIES Chief executive officer Paul Haywood provided $90,000 and chief operating officer Ken Seymour provided $100,000 of the loan. The company said that the funds would give additional headroom to accelerate its […]
Condor Gold raises £3.3m for La India sale
Condor Gold plc raised £3.3 million from an open offer of 12,156,374 shares and placing 3,004,999 new ordinary shares along with a previous £1m investment from the company’s chairman. FUNDRAISE The fundraise announced on 5 December allowed qualifying shareholders to subscribe for one open offer share for every six existing ordinary shares at a price […]
Angus targets £7m via placing and subscriptions
Angus Energy plc has to date raised £5.6 million of a target of £7.1m through a placing and subscriptions in two tranches. PLACING AND SUBSCRIPTIONS The company raised a total of £1.89m through the placing of 115,000,000 ordinary shares. The first tranche of subscriptions generated an initial £3.7m through the issue of 226,219,000 ordinary shares at 1.65p per […]
Galantas agrees $800,000 sale of call options
Galantas Gold Corporation has entered into an agreement with Ocean Partners UK Ltd to sell call options on 6,000 oz gold over 12 months on behalf of the company for US$804,000. USES Ocean will sell the call options at 500 oz per month from February 2024 to January 2025 at a strike price of $1,775 […]
Hurricane plans to return up to $70m to shareholders
Hurricane Energy plc is planning a “significant”capital reduction programme to distribute reserves of up to $70 million, equivalent to 3.1 pence per share, to shareholders. MEETING Hurricane said that the programme involved cancellation of the company’s share premium account of approximately $822.5m, in order to create distributable reserves. The company intends to start the programme in Q1 2023 should […]