Red Rock Resources plc raised £535,840 before expenses by placing 376,028,070 new ordinary shares each of £0.0001 in the company at 0.1425 pence per placing share. USES Following admission, the company’s total issued share capital will consist of 1,958,538,069 ordinary shares, each with one voting right. Red Rock holds no shares in treasury. Net proceeds will fund the company’s […]
Tag: gold
New Ballarat confirms ‘extensive gold’ from Berringa drill
New Ballarat Gold Corporation (NBGC) reported “extensive gold confirmed” from diamond drill results at the Berringa gold mine joint venture (JV) project in Victoria, Australia. POTENTIAL Partners comprise Red Rock Resources plc (51.1%) and Power Metal Resources plc (49.9%). The limited 988m inaugural drill programme of six holes aimed to test three potential sites of South […]
Kavango in talks for £6m investment
Kavango Resources plc is in talks for a £6 million investment in the company and a potential new project for gold exploration in Zimbabwe. INVESTOR The investment by a single investor would be via a non-brokered direct subscription for a proposed price of 1p per share. The transaction is subject to regulatory and shareholder approvals. […]
Alba ‘very bullish’ as losses rise with operations on hold
Alba Mineral Resources plc reported an increase in losses but remained “very bullish” while it continues to await permits for the Clogau-St David’s gold mine in Wales. FINANCES Final results for the year ended 30 November 2022 showed operating losses of £1,623,000 before impairments (2021: £1,067,000). The figure reflected a full year of administrative expenses […]
Galantas to extend loans after losses rise
Galantas Gold Corporation aims to extend its current loans after it recorded more than a three-fold increase in losses at Cavanacaw gold mine in Omagh, Northern Ireland. FINANCES For the year ended 31 December 2022, Galantas’ financial statement showed net loss rose to C$16,633,939 due to a property, plant and equipment impairment of $10,124,920 (2021: loss […]
Hummingbird begins commissioning Kouroussa plant
Hummingbird Resources plc has started commissioning of the processing plant ahead of first gold pour this quarter at Kouroussa open pit gold mine in Guinea. PREPARATIONS The high grade gold mine, at over 4 g/t, is the company’s second operating gold asset in West Africa, after Yanfolila in Mali. Hummingbird said that practical completion on […]