Power Metal Resources plc has signed a letter of intent for a binding agreement to earn a 49% stake in the Qatan exploration licence in southern Saudi Arabia. HABDAH The deal with Al Masane Al Kobra Mining Company will see Power Metal spend US$3 million on designing, conducting and funding all exploration and resource work. The company […]
Tag: letter of intent
Helium One issues notice to rig operator over delays
Helium One Global Ltd has taken legal advice and issued a rectification notice to its planned rig operator following continued delays to drilling operations at Rukwa in Tanzania. OPTIONS The company has had a series of issues over rigs since November 2022 when it had to change operator because of third-party legal complications. In January […]
Golden Metal signs letter of intent for tungsten off-take
Golden Metal Resources plc has signed a non-binding letter of intent for a tungsten concentrate off-take agreement from its Pilot Mountain tungsten project in Nevada. WESTERN SUPPLIES The deal with Global Tungsten & Powders LLC (GTP) of Towanda, Pennsylvania is subject to due diligence and to Golden Metal securing funds to develop the project. GTP develops, manufactures […]
Helium One to share drill rig for Rukwa campaign
Helium One Global has signed a letter in intent (LoI) for an oil and gas drill rig for the drilling campaign planned to start during Q3 at Rukwa in Tanzania. COST SAVINGS The company, along with Australian firm Noble Helium also operating in the area, signed the agreement with Tunisian drilling contractor Sofori* for the […]