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 […]
Tag: loan
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 […]
Europa repays £1m loan to Union Jack
Europa Oil & Gas (Holdings) plc said it had repaid in full the £1 million loan from Union Jack Oil plc to drill the SA02 well in the Serenity field. TERMS The loan was secured against a 10% interest in the Wressle field (PEDL180 and PEDL182), including the associated infrastructure. Europa has also repaid the […]