Western Gold Exploration plc said it had completed its previously announced non-brokered private placement for C$1,243,580 via a private placement. The company issued 17,765,428 common shares each at a price of C$0.07. Monaco-based Zila Corporation, which held 14.07% of WGE’s issued and outstanding common shares, acquired 4,285,714 shares for C$300,000. The investor now holds 11,334,388 […]
Tag: gold
Galantas completes trial stoping at Cavanacaw
Galantas Gold Corporation said it had increased confidence in developing Cavanacaw gold mine after completing trial stoping at the site in Omagh, County Tyrone. OPTIMISATION The Canadian company successfully mined and backfilled six stopes using a narrow vein, modified Avoca longhole open stoping method, in two separate blocks. A planned minimum stope width of 2.2 […]
FCM completes McKellar-Enable sale
First Class Metals plc has sold its McKellar gold-VMS and Enable gold-silver properties to the Seventy Ninth Group Ltd for a total £270,000 and agreed a £230,000 loan with the purchaser. OPPORTUNITIES The company said that Seventy Ninth Resources Ltd, which is preparing to list on the Toronto Stock Exchange Venture, continued to progress due […]
Golden Metal begins largest geophysics
Golden Metal Resources plc has started its largest geophysics programme to date before drill targeting at the Garfield copper-gold-silver and Pilot Mountain tungsten-garnet projects in Nevada, USA. STRATEGY In May, the company confirmed new anomalies at Garfield and expanded the licensed area while also beginning a 2,000-metre drilling campaign in the Desert Scheelite zone at Pilot. Golden […]
Red Rock opts for lower cost sea freight
Red Rock Resources plc said a rise in air freight rates had led it to transport testing and production equipment by sea to its Bilbale and Boulon gold projects in Burkina Faso. LOGISTICS Containers have been loaded ahead of ships setting sail, although maritime rates have also increased. Initial earth moving and trucking equipment, generators […]
Oriole receives $220,000 from Turkey legacy assets
Oriole Resources plc said it had received US$220,000, with a further $80,000 later this quarter, from its interests in the Turkish gold mining projects of Hasançelebi and Doğala. PARTNER The company will use the total sum for exploration in Cameroon. The original 2019 deal saw the company’s local subsidiary sign a $1.38 million exploration agreement […]