Ascent Resources plc said it was making progress on multiple fronts following last year’s restructuring of its board, strategy and portfolio of interests in Cuba and Slovenia. FINANCES In its interim results for the six months ended 30 June 2021, the company reported revenue of £nil with closing cash at £766,000 (H1 2020: £304,000). Losses for the period were […]
Tag: extractive industries
Cora Gold signs new $25m term sheet for Sanankoro
Cora Gold Ltd has signed a new US$25 million mandate and term sheet with investment firm, Lionhead Capital Advisors Proprietary Ltd, to develop the Sanankoro gold project in southern Mali. MINE ECONOMICS The agreement is conditional on, among other matters, the completion of a definitive feasibility study before the end of June 2022. The term […]
Chariot signs drill contract for Anchois gas appraisal well
Chariot Ltd has signed a contract with Stena Drilling to use its Stena Don drilling rig for the planned Anchois gas appraisal well within the Lixus licence, offshore Morocco. PROGRAMME Stena Don is a semi-submersible rig, suitable for drilling, completion and workover operations. Appraisal drilling is expected to start during December 2021 and take up […]
United notes exceptional H1 production at Abu Sennan
United Oil & Gas announced average H1 2021 production net to the company’s working interest of 2,730 boepd from the joint venture Abu Sennan licence in Egypt. WATER–CUT The company holds a 22% working interest in the licence comprised of seven producing oil fields operated by Kuwait Energy Egypt. The ASH field currently has three wells […]
Cora appoints key consultants for Sanankoro DFS
Cora Gold Ltd has appointed key consultants for the definitive feasibility study (DFS) for its Sanankoro gold project in southern Mali. COMPANIES DRA Global Group company, New SENET (Pty) Ltd will be the independent project manager to oversee the critical elements of the DFS. CSA Global (UK) Ltd has been appointed as geological and mining […]
Alba spin-out GreenRoc nears flotation on AIM
Alba Mineral Resources plc has released details for the listing of its spin-out company, GreenRoc Mining plc, focused on multi-element assets in southern Greenland. PROJECTS The new company comprises the Thule Black Sands ilmenite, Amitsoq graphite, Melville Bay iron and Inglefield multi-elements projects. On admission, due mid-September, gross funds of £5.12m are expected to be […]