Finance Metals & Minerals News

Horizonte reduces Araguaia construction work

Horizonte Minerals plc will reduce construction activities at its Araguaia nickel project while it tries to resolve lack of funds with senior lenders and cornerstone shareholders. DISCUSSIONS The company said it would progress only “critical work streams” while maintaining safety in order to manage resources and funds. In October, Horizonte warned of at least a […]

Finance News Oil & Gas

United cancels £5.7m Maria sale before giving up licence

United Oil & Gas plc has terminated the £5.7 million conditional sale of the Maria discovery and will withdraw from the central North Sea licence on its expiry at the end of this month. EXHAUSTED The company has several times extended the long stop date for Quattro Energy Ltd’s purchase of P2519, which depended on […]

Finance News Oil & Gas

Angus issues shares for £3m loan

Angus Energy plc received shareholders’ approval in yesterday’s general meeting to issue 516,033,308 shares at 0.66 pence to Kemexon Ltd in exchange for a £3 million loan. Following the issue of the shares, Angus will have 4,142,893,340 ordinary shares in issue, each with one vote. The company holds no ordinary shares in treasury.

Finance News Oil & Gas

Orcadian signs lock-in with shareholder for new investor

Orcadian Energy plc has signed a six-month lock-in agreement over 7,049,695 ordinary shares in the company to allow a third-party investment deal. NEW INVESTORS Former director Greg Harding and his wife Nora Harding agreed not to sell their 9.35% holding from 23 October for that period of time except in certain limited circumstances. Orcadian, which […]

Finance Metals & Minerals News

GreenRoc awarded £250,000 for graphite spheronisation plant FS

GreenRoc Mining plc has received £250,000 to help fund a feasibility study for a graphite spheronisation processing plant in the UK fed by concentrate from its Amitsoq project in Greenland. STUDY PARTNERS The Automotive Transformation Fund (ATF) awarded the grant under its recently closed feasibility study competition. GreenRoc said that the plant would produce active […]

Finance Metals & Minerals News Oil & Gas

Ascent signs £1.5m deal for MBD to take 20% control

Ascent Resources plc has signed a £1.5 million strategic collaboration for 20% of the company with investor MBD Partners SA. PREMIUM MBD will directly subscribe for 42,857,143 new ordinary shares of 0.5p each, at 3.5 pence per new share, a 35% premium to the closing bid price of 2.6 pence on 2 October 2023. Each […]