Finance Legal News Oil & Gas

Ascent cancels Beryl’s £1m subscription

Ascent Resources plc has cancelled the delayed £1 million subscription by Beryl International Pty following developments in the arbitration over its onshore Slovenia gas joint venture. TERMINATION Ascent’s reasons for the move include the possible receipt of Slovenia funds, a recent £400,000 fundraise, Beryl’s failure “to provide confidence” on its ability to complete its commitment […]

Finance Metals & Minerals News

Cadence agrees up to $10m loan for Amapá

Cadence Minerals plc has agreed up to a US$10 million loan to develop the Amapá iron ore project in Brazil, including optimisation studies on the processing route and environmental licensing. TRANCHES A commitment of an initial tranche of $2m has been agreed with Riverfort Global Capital Ltd to be entered into by RiverFort Global Opportunities […]

Finance Metals & Minerals News

Power Metal receives £43,750 via warrant exercise

Power Metal Resources plc received £43,750 from the exercise of warrants by former chief executive Paul Johnson over 6,250,000 new ordinary shares. The shares of 0.1 pence each in the company were exercised each at a price of 0.7p. As a result, Paul Johnson and Michelle Johnson will hold 82,250,000 Power Metal shares equating to 3.98% of issued share capital. Following admission, […]

Equipment & Logistics Finance Metals & Minerals News

WCM secures ‘multi-million pound’ deal for Woodhouse

West Cumbria Mining Ltd (WCM) has completed a new “multi-million pound funding package” for Woodhouse Colliery, near Whitehaven. WORKSTREAMS The undisclosed amount will finance the next development phase throughout 2023 and the start of construction in 2024. WCM previously published its backer as Australian investment company EMR Capital Resources. The company said it had also […]

Finance Metals & Minerals News

Potential Adeline buyer sets exploration budget

Chesterfield Resources plc noted its potential purchaser of the Adeline copper project has earmarked C$2m (£1.18m) for summer exploration on the asset in Labrador, eastern Canada. ACTIVITIES Sterling Metals aims for a 2,500 metre drill campaign in addition to the C$500,000 (£296,000) airborne survey planned over the licence area. The finance will come from the […]