Corcel plc said that its partner Battery Metals Pty Ltd (BMA) intends to exercise its pre-emption rights to buy out the company’s 41% interest in the Mambare nickel-cobalt project in Papua New Guinea (PNG). LEGAL The move could hinder Corcel’s new joint venture Integrated Battery Metals (IBM) announced on 1 March to hold its PNG assets […]
Tag: Papua New Guinea
Corcel reports increase in costs while losses widen
Corcel plc reported widening losses at the end of year in which it expanded its metals assets in Papua New Guinea (PNG). FINANCES Final audited results for the year ended 30 June 2022 show losses of £2.1 million (2021: 1.2m). Administrative costs rose to £1.26m (2021: 1.0m) reflecting increased insurance costs, professional services costs, share […]
Corcel chairman converts debt for project funds
Corcel plc’s chairman has converted £128,586 debt into 8,572,400 new ordinary shares, locked up for 18 months, to fund the company’s projects in Canada and Papua New Guinea. LOAN The debt was converted by C4 Energy Ltd, controlled by chairman and director James Parsons. Mr Parsons has now increased his indirect interest in Corcel through […]