Condor Gold plc and Metals Exploration plc have agreed the terms and conditions to the Metals’ recommended offer for Condor. DIVERSIFICATION Announced two days ago, the offer is intended to be implemented by means of a court-sanctioned scheme of arrangement, although Metals reserves the right to a takeover offer. Completion of the acquisition, which includes the flagship […]
Tag: gold
Tertiary begins drilling at Brunton Pass
Tertiary Minerals plc has started an additional drilling programme in its portfolio of licences with operations at the Brunton Pass copper-gold project in central Nevada, USA. UNPARALLELED The company plans four reverse circulation percussion drill holes each to an average depth of 350 to 400 metres. Tertiary said that two holes holes would test for […]
WGE survey indicates numerous anomalies at Lorne
Western Gold Exploration Ltd reported “strong depth and near-surface potential” from a 779-line km helicopter survey at the Lorne porphyry district in Argyll, Scotland. WIDESPREAD Magnetotelluric (MT) geophysics over the Lagalochan and Ardlochan prospects also identified “other possible porphyry-related centres” across the company’s Crown Mines Royal licence. The Canadian company said it was the first […]
Hummingbird faces delisting and buyout
Hummingbird Resources plc could be delisted and bought out after it agreed to convert US$30 million debt into shares for its main creditor. CHALLENGES Negotiations on debt restructuring continue with the company’s primary lenders Coris Bank International and CIG SA and its largest shareholder Nioko Resources Corporation. Hummingbird said that challenges at Yanfolila in southern […]
Ormonde-TRU positive on Golden Rose assays
Ormonde Mining plc’s investee has returned positive assays from exploration at the Golden Rose copper-gold project in the central Newfoundland gold belt, Canada. MODEL The company highlighted “significant” copper values from the Jacob’s and King George prospects, of up to 3.7% copper. Owner-operator TRU Precious Metals Corp, in which Ormonde owns 36.3%, also recorded anomalous values […]
Alba raises £300,000 via placing
Alba Mineral Resources plc has raised £300,000 by a placing of one billion new ordinary shares at 0.03 pence per ordinary share. USES Following admission, the company’s total ordinary shares in issue will number 10,736,939,266, with none held in treasury. Alba today also opened a separate retail offer at the same price per share to […]