UK Oil & Gas plc (UKOG) has secured a £3 million loan to fund planned activities over the next 12 months at its onshore operations in England and Turkey. USES The loan, from previous lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd, holds 0% interest and is repayable 18 months after each […]
Tag: loan
i3 settles £22m debt and agrees C$100m Trafigura loan
i3 Energy plc has settled its outstanding £22 million senior secured guaranteed loan notes, due 31 May 2023, and agreed a C$100 million loan from Trafigura Canada Ltd. TRAFIGURA LOAN The offshore UK and Canada-focused company said that the loan would provide “greater financial flexibility and enhanced credit capacity” for its business plan. Part of […]
Cadence agrees up to $10m loan for Amapá
Cadence Minerals plc has agreed up to a US$10 million loan to develop the Amapá iron ore project in Brazil, including optimisation studies on the processing route and environmental licensing. TRANCHES A commitment of an initial tranche of $2m has been agreed with Riverfort Global Capital Ltd to be entered into by RiverFort Global Opportunities […]
Block increases loan to $2m for Georgia drilling
Block Energy plc has increased its US$1.06 million loan, secured in February 2023, by $940,000 for its oil and gas operations in Georgia. DIRECTORS’ DEALINGS The funds will maintain scheduled liftings and accelerate procurement of materials to drill its next project I wells, the first of which is KRT-45Z, in the West Rustavi/Krtsanisi field. The […]
Galantas borrows £347,000 for Gairloch
Galantas Gold Corporation has agreed a £347,000 loan from major shareholder Melquart Ltd for the initial lease payment for the recently acquired Gairloch project in Scotland. TERMS The Canadian company is targeting the gold-bearing volcanogenic massive sulphide deposit on land owned by the Gairloch Estate in Wester Ross in the North-West Highlands. The loan is […]
Altona secures £150,000 loan for Monte Muambe
Altona Rare Earths plc has secured a £150,000 loan to complete its 2022 programme and assay costs for its Monte Muambe project in northwest Mozambique. MRE The company will draw down the short-term loan facility from Align Research Investments Ltd in two tranches during November at a fixed interest rate of 15%. “In order to […]