Finance News Oil & Gas

Orcadian raises £350,000 via subscription

Orcadian Energy has raised gross £350,000 via issuing 2,916,666 new ordinary shares each of £0.12 of the company. The fundraise, part of a direct subscription with new investors, is at a discount of approximately 14% to the closing mid-price of an ordinary share in the company on 29 September 2023. Proceeds will go towards working […]

Finance Legal Metals & Minerals News

Scotgold staff on unpaid leave

Scotgold Resources Ltd has placed employees on “short term unpaid leave” and is talks with an “administration specialist” while it faces action from a creditor. FINANCING The Australian company continues “financing discussions” to develop its Cononish gold and silver mine and reached an advanced stage with “confirmatory diligence being undertaken”. “These have not yet reached […]

Equipment & Logistics Finance News Oil & Gas

Oil-based fluids to boost West Newton flow rates

Reabold Resources plc said that the Environment Agency had approved the use of oil-based drilling fluids during drilling and testing the West Newton B-2 well. FUNDING The variation of the permit for the West Newton B well site allows joint venture partner and operator Rathlin Energy (UK) Ltd to use oil-based fluids within the Permian […]

Equipment & Logistics Finance Metals & Minerals News

Scotgold review focuses on top down LHS mining

Scotgold Resources Ltd has outlined priorities identified from its continuing review of the revised mining plan and schedule for the Cononish gold-silver mine near Tyndrum. TOP-DOWN LHS The company, which still needs to pay debt interest, said that the mine plan and schedule until July 2025 focuses on transitioning to top-down long hole open stope […]