United Oil & Gas plc has conditionally raised £1 million via an oversubscribed discounted placing of 457.5m new ordinary shares with new and existing shareholders. DIRECTORS’ DEALINGS The company issued 500m new ordinary shares each of £0.00001 at a price of £0.002 each, representing 76.18% of the company’s issued ordinary share capital. The fundraise was completed […]
Tag: extractive industries
Tertiary to own 90% of Zambia copper assets in new JV
Tertiary Minerals plc will control 90% of its Zambia copper projects under a signed new joint venture agreement with its local partner. STRUCTURE The deal covers the Jacks, Mukai and Mushima North exploration licences currently 100% held by partner Mwashia Resources Ltd. The agreement results in a new Zambian company (Newco) of which Tertiary’s 96% […]
Oriole’s partner starts infill sampling at Mbe
Oriole Resources plc reported the start of infill sampling at the early-stage 312km2 Mbe gold project on the Eastern Central Licence Package in Cameroon. ANOMALISM The company believes it has identified targets “indicative of a corridor of gold mineralisation” running across all five of its Eastern CLP licences. Earn-in partner BCM International Ltd completed its […]
Serica completes 30% acquisition of GBA licences
Serica Energy plc has completed its 30% non-operated acquisition in the Great Buchan Area licences P2498 and P2170 from Jersey Oil & Gas plc. DEVELOPMENT The GBA contains oil and gas accumulations 150km northeast of Aberdeen, and comprises the largest field Buchan, now renamed Buchan Horst, and Verbier. Project partners are now operator NEO Energy […]
Kavango progresses Zimbabwe projects ahead of drilling
Kavango Resources plc has progressed exploration activities towards new or expanded drilling programmes at its gold projects in southern Zimbabwe. PREPARATIONS Acquired in July 2023, the Hillside project in Matabeleland comprises 40 contiguous gold claims and contains a historic high-grade underground mine. Kavango plans 16-line km induced polarisation surveys over four of the prospects, aimed […]
Scirocoo sets date for requisitioned general meeting
Scirocco Energy plc will convene a requisitioned general meeting on 19 March to vote on a resolution for the company to distribute cash to its shareholders. Forest Nominees Ltd, holder of 78,978,978 shares on behalf of G.P. (Jersey) Ltd, is also calling for Scirocco to sell its material assets and return any cash proceeds to […]