Scirocco Energy plc said it had agreed an amendment to repaying the outstanding $545,000 investment facility with USA-based investor Prolific Basins LLC. RUVUMA CASH The company defaulted on the loan after shareholders defeated two resolutions at the general meeting in early August. Scirocco today said that it would use available cash resources, strengthened by the […]
Tag: loan
Europa agrees £1m loan from Union Jack
Europa Oil & Gas (Holdings) plc has agreed a £1 million loan from Wressle onshore hydrocarbon partner Union Jack Oil plc for its developments that could include the Serenity offshore oil discovery. TERMS The loan is for 18 months and secured against an unencumbered 10% interest in the Wressle field (PEDL180, and PEDL182), with associated […]
Galantas agrees further $530,000 from Ocean and extends £1m loan
Galantas Gold Corporation said it had signed a further loan agreement for US$530,000 and extended its current £1.06 million loan with Ocean Partners UK Ltd for the Cavanacaw mine in Omagh, Northern Ireland. USES The Canadian company said it would use the funds to development underground mining operations and for working capital. Ocean Partners offers […]
Scotgold lowers output guidance as it mulls Covid loan
Scotgold Resources Ltd slightly lowered its production guidance for March due to slow recruitment and training as the junior miner said it was considering a Covid-19 government loan. The Australian company said that the delay to production had resulted in a negative impact on the company’s cash position. Scotgold reported it had made some progress […]