UK Oil & Gas plc (UKOG) has secured a £3 million loan to fund planned activities over the next 12 months at its onshore operations in England and Turkey. USES The loan, from previous lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd, holds 0% interest and is repayable 18 months after each […]
Tag: finance & funding
Conroy to raise £400,000 via discounted shares
Conroy Gold and Natural Resources plc has raised £400,000 by issuing nearly three million new ordinary shares to two investors. TERMS A total of 2,962,962 new ordinary shares of €0.001 [sic] will be issued, each at 13.5 pence and representing a discount of 9.2% to the closing mid-market price of 14.875 pence on 19 June […]
Cornish Lithium announces advisory board
Cornish Lithium today said that in December 2022 it established an “advisory board” experienced in environment, social and governance (ESG), public relations and finance. MEMBERS Kate Harcourt has more than 30 years’ experience across the mining industry and was appointed Cornish Lithium’s ESG officer in April 2021. She also serves as non-executive director to Condor […]
Corcel completes Kwanza oil and gas acquisition
Corcel plc completed the acquisition of its 90% interest in Atlas Petroleum Exploration Worldwide Ltd with assets in the Kwanza basin, onshore Angola. CONTRACTS The company last week signed the risk service contracts for blocks KON-11, KON-12 and KON-16 and other conditions precedent are also satisfied. The issue of shares for the transaction, announced in May […]
Tungsten West expects to cut jobs by 42%
Tungsten West plc said it expected to reduce its workforce by 42% as part of cost cutting measures at Hemerdon tin-tungsten mine in Devon. SAVINGS The company forecasts redundancies and resignations will meet the targets in its nearly completed cost reduction programme which began in April 2023. “Monthly recurring payroll costs are expected to reduce […]
i3 settles £22m debt and agrees C$100m Trafigura loan
i3 Energy plc has settled its outstanding £22 million senior secured guaranteed loan notes, due 31 May 2023, and agreed a C$100 million loan from Trafigura Canada Ltd. TRAFIGURA LOAN The offshore UK and Canada-focused company said that the loan would provide “greater financial flexibility and enhanced credit capacity” for its business plan. Part of […]