Tungsten West plc is in discussions for additional funds after its revised plans failed to meet the $49 million loan terms from Orion Resource Partners for the Hemerdon tin-tungsten mine in Devon. FINANCES In its audited results for the year ended 31 March 2022, the company said that the agreed financing package through a royalty […]
Tag: finance & funding
United receives £165,000 via warrant exercise
United Oil & Gas plc received £165,000 following two notices to exercise warrants for a total of 11,550,00 new ordinary shares of £0.01 each in the share capital of the company. The warrant shares are £0.0142857 pence per share, pursuant to the warrant instruments granted on 31 July 2017. Following the issue of the warrant […]
Prospex Energy raises £1.87m through loan notes
Prospex Energy plc has raised £1.87 million via the issue of unsecured convertible loan notes to further the Selva gas discovery (37%) on the Podere Gallina permit in the Po Valley, Italy. TERMS A total of 27 individual subscribers include all four current directors and one former director of the company. The loan notes are […]
Anglesey PFS shows Grängesberg potential
Anglesey Mining plc said that the Grängesberg iron ore project in Sweden could resume mining as one of Europe’s largest individual producers of iron ore concentrates. PRODUCTION Micon International’s revised pre-feasibility study shows post-tax net present value (NPV) of US$688 million, based on 2.3 – 2.5Mtpa of iron ore concentrate production grading 70% Fe. Post tax […]
Rockhopper raises $3.4m via open offer
Rockhopper Exploration plc said it had raised US$3.4 million (£2.8m) from an open offer in respect of 39,652,160 units. The number represents more than 69% of the 57,310,264 available open offer units. In addition to the placing and subscription on 15 June, Rockhopper has now raised in aggregate US$10.4 million (£8.5 million).
Oriole to raise £400,000 via placing-subscriptions
Oriole Resources plc has conditionally raised £400,000 comprising an equity raise, directors’ subscriptions and a salary sacrifice scheme. FUNDRAISE The fundraise comprises £300,000 in a placing and £40,000 from subscriptions by certain directors through the issue of 188,888,888 new ordinary shares at the placing price of 0.18 pence per share, equal to a 14% discount. […]