Corcel plc has sold 20% of its Mt Weld rare earths project for A$1 million (£500,000) cash to a shareholder company controlled by nominated non-executive board member Antoine Karam. JOINT VENTURE The sale is to Italian private investment company Extraction Srl which currently holds 9.61% in Corcel. Mr Karam was nominated to the board by Corcel’s […]
Tag: rare earth elements
Corcel begins RC drill campaign at Mt Weld
Corcel plc has started a seven-hole reverse circulation (RC) drill campaign at the joint venture Mt Weld rare earth elements project near Laverton in Western Australia. PROGRAMME A sub-contractor for the company and its partner Riversgold Ltd will drill a total 2,000m on tenement P34/4489. The site’s four discrete undrilled magnetic features, interpreted to represent potential […]
Altona raises £2m on cusp of admission to main market
Altona Rare Earths plc has raised £2 million via an oversubscribed placing and subscription. USES The placing resulted in £1,720,800 along with £279,200 from the subscription through the issue of 40 million new ordinary shares each at 5 pence. Altona plans to use the funds to complete the inaugural JORC compliant mineral resource estimate and […]
Corcel refines targets for inaugural drill at Mt Weld JV
Corcel plc’s joint venture partner has refined existing drill targets in preparation for an inaugural drill campaign at the Mt. Weld rare earth elements project near Laverton in Western Australia. MULTIPLE TARGETS Riversgold Ltd completed 3D inversion magnetics work had confirmed the validity of multiple magnetic targets and allowed refined planning for drilling, said Corcel. The […]
Corcel completes debt restructuring to focus on Mt Weld
Corcel plc said it had refinanced its debt totalling £673,348 with lenders Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. REPAYMENTS The company will pay £235,671 cash in the coming three months and a 5% refinancing fee will be added to the outstanding balance. The remaining £471,343 will be subject to a twelve-month […]
Corcel agrees farm-out and JV for Mt Weld
Corcel plc has signed a farm-out and joint venture agreement for its recently acquired rare earth elements (REE) project at Mt Weld in Laverton, Australia. MT WELD In early December 2022, the company acquired licence P38/4489 holding a granted mineral tenement, located 1.4km (0.9 miles) west-north-west of Lynas Rare Earths Ltd’s Mt Weld REE mine. […]