Altona Rare Earths plc has diversified its portfolio with an agreement to acquire the 616 km2 metals and diamond Kabompo South project in Northwestern Province of Zambia. EXCLUSIVE The deal with Sustineri Group Ltd and the beneficial owners of Phelps Dodge Mining (Zambia) Ltd is for the entire issued share capital of Phelps Dodge, holder of […]
Author: editorial
Alba Mineral raises £380,000 via placing
Alba Mineral Resources plc has raised £380,000 before expenses through the issue of 584,615,385 new ordinary shares at a price of 0.065 pence per ordinary share. Following admission, the company’s total number of ordinary shares in issue will be 8,318,304,381. Alba holds no ordinary shares in treasury. Proceeds will be used at the company’s 100% owned Clogau-St David’s gold mine, […]
Kouroussa production delayed by disputes
Hummingbird Resources plc warned of delayed commercial production at its Kouroussa mine where operations are still on hold following disputes with its mining contractor. BLASTING Corica Mining Services stopped work on 17 March at the Guinea mine in a dispute over contracts including pay. Hummingbird today said it had been in discussions with Corica, alternative […]
Baron completes Chuditch-2 geophysics
Baron Oil plc has completed its geophysical site survey at the planned drilling location for the Chuditch-2 appraisal well, offshore Timor-Leste. SEABED The company said that despite weather conditions causing operational delays its subsidiary has now incorporated the results into the geotechnical survey planning. Adverse weather also delayed the vessel due to conduct the geotechnical […]
UKOG granted one year extension for Loxley
UK Oil & Gas plc has been granted a one-year extension to its Loxley gas licence by the North Sea Transition Authority. The company must begin drilling the Loxley-1 appraisal well on PEDL234 retention area work programme no later than 30 June 2025. The deadline allows the company to retain the full 300 km² licence without […]
Power Metal reduces 2.2bn shares to 100m
Power Metal Resources plc has reduced the number of its shares in issue from 2.2 billion to 100m after receiving approval at yesterday’s general meeting. Shareholders voted 80.05% in favour and 19.95% against to consolidate every 20 ordinary shares of 0.1p each in issue into one new ordinary share of 2p each. Following admission, Power […]