Oriole Resources plc reported the start of infill sampling at the early-stage 312km2 Mbe gold project on the Eastern Central Licence Package in Cameroon. ANOMALISM The company believes it has identified targets “indicative of a corridor of gold mineralisation” running across all five of its Eastern CLP licences. Earn-in partner BCM International Ltd completed its […]
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Serica completes 30% acquisition of GBA licences
Serica Energy plc has completed its 30% non-operated acquisition in the Great Buchan Area licences P2498 and P2170 from Jersey Oil & Gas plc. DEVELOPMENT The GBA contains oil and gas accumulations 150km northeast of Aberdeen, and comprises the largest field Buchan, now renamed Buchan Horst, and Verbier. Project partners are now operator NEO Energy […]
Kavango progresses Zimbabwe projects ahead of drilling
Kavango Resources plc has progressed exploration activities towards new or expanded drilling programmes at its gold projects in southern Zimbabwe. PREPARATIONS Acquired in July 2023, the Hillside project in Matabeleland comprises 40 contiguous gold claims and contains a historic high-grade underground mine. Kavango plans 16-line km induced polarisation surveys over four of the prospects, aimed […]
Scirocoo sets date for requisitioned general meeting
Scirocco Energy plc will convene a requisitioned general meeting on 19 March to vote on a resolution for the company to distribute cash to its shareholders. Forest Nominees Ltd, holder of 78,978,978 shares on behalf of G.P. (Jersey) Ltd, is also calling for Scirocco to sell its material assets and return any cash proceeds to […]
UKOG employee benefit trust subscribes for 3bn shares
UK Oil & Gas plc employee benefit trust (EBT) today subscribed for 3,005,000,000 ordinary shares in the company to return the EBT ordinary shareholding to its original 10% of the issued share capital. The company signed a loan agreement with EBT trustees Alum Trustees Ltd to fund the subscription, at a price per share of £0.0001, […]
FCM raises £166,500 via chairman’s placing shares loan
First Class Metals plc has raised £166,500 via a private placing of 3.7 million ordinary shares of 0.1p each, at a price of 4.5p. The placing price is a 10% premium to the middle market price of ordinary shares at the close of business on 21 February 2024. Having insufficient headroom to issue and admit […]