Power Metal Resources plc raised £300,000 following completion of irrevocable insider warrant exercises. Value Generation Ltd, a private company beneficially owned by Power Metal’s chief executive Paul Johnson, completed its irrevocable undertaking to exercise warrants to subscribe for 10 million new ordinary shares of 0.1p each at an exercise price of 1.0p per ordinary share raising £100,000. Following admission […]
Tag: extractive industries
Kavango completes first drill hole at Hukuntsi at KSZ
Kavango Resources plc has completed the first geological borehole in Target Area A in the Hukuntsi (northern) section of the Kalahari Suture Zone (KSZ) project. TA2DD001 Hole TA2DD001 was drilled to 578m, after which the company signed an addendum to the current drill contract with Equity Drilling & Mindea Exploration and Drilling Services (Pty). This will see […]
Horizonte holds £22m as Araguaia financing nears completion
Horizonte Minerals plc maintained a strong cash position while costs rose during H1 2021 at its Araguaia ferro-nickel project in Brazil. RESULTS In its unaudited interim results for six months to 30 June 2021, the company reported it held £22.2 million following an £18m equity fundraise in February 2021. Pre-tax losses were £2,291,336 (H1 2020: […]
Alba intersects significant graphite layers at Amitsoq
Alba Mineral Resources plc said its completed first drilling campaign had intersected “significant” graphite layers at the Amitsoq graphite project in southern Greenland. THICKNESS The company’s subsidiary Obsidian Mining Ltd completed its planned diamond drill programme at the Amitsoq Island deposit, part of the overall Amitsoq project, to establish an initial mineral resource. A total […]
Oriole completes half of CLP mapping-sampling
Oriole Resources plc has completed more than half of the mapping and sampling on its 3,592km2 Central Licence Package in central Cameroon. FIELD WORK The company completed the five easternmost licences, with results anticipated during Q3 2021, and has now paused activities for the rainy season. The programme will resume for the remaining three licences […]
Tertiary signs option for JV copper licences in Zambia
Tertiary Minerals plc has entered into an option agreement to acquire up to a 90% joint venture (JV) interest in five copper exploration licences covering 1,500 km2 in Zambia. PROSPECT The company’s 96% recently incorporated subsidiary Luangwa Minerals Ltd, secured the agreement with Mwashia Resources Ltd. The deal covers exploration licence 27069-HQ-LEL (Jack’s licence) and […]