Union Jack Oil plc has decided not to acquire a further 25% interest in the Claymore Piper complex royalty units in the North Sea. CORE PROJECTS In March 2021, the company acquired a 2.5% interest in the complex, which at the time it said was attractive, cash generating and high yielding, and consistent with its […]
Tag: UK extractive industries
Union Jack raises £3m via placing
Union Jack Oil plc has raised £3 million by way of a placing of 13,636,364 new ordinary shares of 5 pence each at a price of 22 pence per new ordinary share. USES Funds raised will be mainly used at the company’s onshore hydrocarbon projects in Wressle and Biscathorpe.
Red Rock locates anomalous areas ahead of drilling at Mikei
Red Rock Resources plc has recorded four important anomalous areas in the Masurura area at the Eastern licence as the company prioritises drill targets for its 100% owned Mikei gold project (MGP) in Kenya. SURVEYS The MGP comprises two prospecting licences, PL/2018/0202 and PL/2018/0203 covering 245 km2,over the Migori greenstone belt. The company first collected […]
Tungsten West holds MRE of 328Mt at Hemerdon
Tungsten West Ltd announced a JORC mineral resource estimate (MRE) of 328Mt at 0.12% WO3 [tungsten oxide] and 0.03% tin at its Hemerdon project in the village of Plympton in Devon. MINERAL RESOURCE ESTIMATE The MRE, effective of 7 December 2020, was prepared by Mining Plus UK in accordance with the JORC Code 2012. Inclusive […]
Anglesey Mining swings to £3.7m profit
Anglesey Mining plc swung to a profit of £3.7 million for the last financial year, compared with a £0.3m loss the previous year, due to its 12% holdings in Labrador Iron Mines in Canada. FINANCES In its full year results ended 31 March 2021, the company reported no revenues from its own base and precious […]
Cairn Energy nears end of tax dispute with India
Cairn Energy plc announced that it had nearly resolved the outstanding tax issues with India and soon expected to complete its acquisition in Egypt. INDIA Cairn said that a near-term India resolution would see up to $700m (£500m) returned to shareholders via special dividend and buyback, subject to approval. The remainder will be retained to […]