Cadence Minerals plc has asked to meet the Mexican Government over the as yet unverified revocation of its Sonora lithium mining concessions and “related acts and omissions by Mexico”. TREATY The concessions include those granted to Mexilit S.A. de CV and Minera Megalit S.A. de CV, in which Cadence holds a 30% stake through its […]
Legal
Capricorn receives tax notice for Sangomar sale
Capricorn Energy plc said it would defend its position against tax notice relating to a product sharing contract over the Sangomar oil field, offshore Senegal. TRANSFER In 2020 Woodside Energy acquired the entire interest in the project belonging to the company, then known as Cairn Energy. Woodside received notice from the Senegalese Tax Authority that […]
Reabold requests valid resolutions to requisition general meeting
Reabold Resources plc said that last week’s notice to requisition a general meeting was invalid because of “material deficiencies” under section 303 of the Companies Act 2006. ACTIONS Pershing Nominees Ltd, which owns a total 7.84% representing 13 beneficial owners, called for shareholders to vote on, among other matters, the removal of Reabold’s co-chief executive […]
Scotgold considers administration after funding talks fail
Scotgold Resources Ltd could appoint administrators in the next few days after advanced talks failed with a strategic investor for Cononish gold-silver mine. In a statement today the company said: “Unfortunately, these discussions have not resulted in an investment at this time. “Therefore, the directors, having assessed the options open to them, are now considering […]
Ascent awarded proceeds from all Petišovci wells
Ascent Resources plc said it had received confirmation of its subsidiary’s entitlement to proceeds from all the wells in the Petišovci onshore gas joint venture in Slovenia. RESOLUTION The arbitration tribunal’s decision follows the hearing against the company’s partner Geoenergo. Disagreement arose from the companies’ different interpretations of baseline production and the number of wells […]
Angus to resume testing at Balcombe
Angus Energy plc will restart testing the Balcombe well site in West Sussex, after the High Court dismissed a judicial review from objectors. HYDRAULIC FRACTURING The Balcombe-2Z well was drilled almost a decade ago, and in November 2018 the company as operator conducted a short-term, inconclusive test. Project partners of PEDL244 at the time comprised […]