Scotgold Resources Ltd raised £1.5 million before expenses via a placing of 2,142,857 depositary interests of no par value in the company at a price of 70p per new ordinary share. Bridge Barn Ltd, a company owned and controlled by Scotgold’s chairman, Nathaniel (Nat) le Roux, will provide additional debt funding of £500,000 if required.
Tag: gold
Hummingbird finds new gold ounces at Yanfolila
Hummingbird Resources plc said it had discovered new ounces of gold and will double its 2021 exploration budget to $10 million at Yanfolila, southern Mali. The news comes as the company published a new internal mineral resource estimate (MRE) following its £5m 2020 exploration programme. Hummingbird said it had met last year’s three objectives which […]
Oriole cuts losses by 81% and raises £2.37m
Oriole Resources plc reduces losses by more than 80% and raised £2.37 million through its portfolio of assets in Africa and Turkey. The company said that the significant reduction was partly driven by an unrealised foreign exchange gain of £317,000, compared with a £445,000 exchange loss in 2019. The remaining sum of £578,000 was the […]
Altus finds potential new zone at Tabakorole gold project
Altus Strategies plc said it had discovered a potential new parallel zone of mineralisation at the Tabakorole gold project in Southern Mali. The final results from a 6,300 metres reverse circulation (RC) drilling programme also show an extension of the current strike length of the project. Exploration at Tabakorole is funded by Marvel Gold Ltd […]
Oriole agrees gold exploration budget for Senala
Oriole Resources plc said it had reached an agreement over an underspend with its joint venture partner of £1.8 million at the Senala gold project in Senegal. Earlier in March, IAMGOLD Corporation had requested to carry forward US$172,000 from Year 3 into Year 4. bityl.co/660c As per the terms of the option agreement, IAMGOLD proposed […]
RRAL appoints David Holden as board director
Red Rock Resources Australasia Pty Ltd (RRAL) has appointed exploration manager David Holden as a new board director. Mr Holden has extensive geological and public company experience, at both CTO and CEO level.