Golden Metal Resources plc has raised £750,000 through a direct subscription from Purebond Ltd. USES The company issued 5 million new ordinary shares of 1.0p each, representing 5.5% of the enlarged issued share capital of the company, at an issue price of 15p per share. The subscription price is a premium of 5.3% to the […]
Author: editorial
Union Jack expects West Bowlegs well to spud soon
Union Jack Oil plc expects drilling to start soon at its recently signed farm-in on the West Bowlegs prospect in Seminole County, Oklahoma. PRODUCTION The company said operator Reach Oil & Gas Company Inc had signed a drilling contract for the Andrews-1-17 well with a local firm. Groundworks are complete and a spud date due […]
Kavango nears revenue in Zimbabwe
Kavango Resources plc said its new Zimbabwe mining subsidiary will this month start generating revenue with the Hillside gold project. PROSPECTS Kavango Mining (Pvt) Ltd signed its first contract to begin immediate gold mining by taking over operations for 100% revenue. Today’s news follows Kavango’s plans to generate early cash flow by extracting gold from […]
Cadence aims to cut costs and extend Amapá
Cadence Minerals plc expects to save costs and could extend operations at the Amapá iron ore project in northeast Brazil. FINANCING Nearly complete optimisation studies will reduce plant capital expenditure and an additional processing flow sheet aims to increase product quality to 67% iron ore concentrate. This contrasts with the previously proposed 62% and 65% […]
Kavango looks to early cash flow from Nara gold dump
Kavango Resources plc could see early revenue from “significant” near-term gold production at tailings dumps on its Nara gold option in Zimbabwe. MINERAL RESOURCE ESTIMATE The project comprises 45 contiguous gold claims, each of 10 hectares, covering four historic mines. The company’s inaugural mineral resource estimate on two dumps combined showed an indicated 293,000 tonnes […]
Helium One nears Itumbula West-1 appraisal
Helium One Global Ltd is preparing to move beyond exploration following drill stem test results from the Itumbula West-1 well at Rukwa, Tanzania. EVALUATION The test measured a maximum flow rate of 0.5 million cubic feet per day containing 4.7% helium, without any artificial lift, from the factured Basement and faulted zone. Flow rates in […]