Red Rock Resources plc has paid part of the amount due to acquire its partner’s 49% share in their Australian gold exploration joint venture. CLNs The company announced earlier this year its intention to purchase Power Metal Resources plc’s share in New Ballarat Gold Corporation plc. NBGC, held by local operator Red Rock Resources Australasia […]
Tag: joint venture
CMR sets up JV trading arm in Morocco
Critical Mineral Resources plc has agreed a joint venture to trade mined metals and industrial minerals from Morocco. EXPERTISE The 70-30% deal is with “a Moroccan trading company” which has access to sources of mined materials and international customers. Both partners will also “source metal and mineral concentrates and raw ores” before arranging delivery to […]
Sunda applies for Philippines offshore licences
Sunda Energy plc has applied for two offshore licence areas in the Philippines containing “several material gas discoveries and significant upside potential”. STRATEGY The applications were made in a joint venture partnership with three other companies. If successful, the company expects to hold a 37.5% non-operated interest in any service contracts awarded. The applications were […]
Power Metal extends uranium JV due diligence
Power Metal Resources plc has extended the due diligence period for the creation of a uranium-focused joint venture in Canada. PROGRESS The June agreement for the company’s entire Saskatchewan portfolio with ACAM LP includes a £2m subscription and a £10m non-binding term sheet. Power Metal holds 16 properties over a combined 92,407ha (924.07km2), surrounding and within […]
Imerys British Lithium sets up second drill on site
Imerys British Lithium Ltd said it had set up the second drill rig at its site in St Austell, Cornwall. JOINT VENTURE On its social media LinkedIn account the recently formed French-Australian company added it expected the third rig at the end of August. “We have drilled 22 holes so far in this programme, infilling […]
Orcadian mulls sale of Pilot oil licence
Orcadian Energy plc could sell the Pilot oil licence with the company’s finances “severely constrained” and a £1m debt to Shell due at the end of August. DISCUSSIONS The company, which also still needs to raise new finance in the short term for working capital, held £97,000 at end of July 2023. “A number of […]