Golden Metal Resources plc reported bonanza silver grades and a magnetic bullseye anomaly overlapped by a uranium target at Garfield in Nevada, USA. NEW-STYLE DEPOSIT Assay analysis, from geological mapping and rock sampling at the project within the Walker Lane mineral belt, confirm silver grades of up to 1,225g/t silver, including 18.35g/t silver and 1.89% copper. The […]
Author: editorial
Oriole directors exercise warrants over 17.4m shares
Oriole Resources plc received notice that four directors exercised warrants over a total 17,444,445 new ordinary shares of 0.1p each at an exercise price of 0.25 pence per share. Independent non-executive director Eileen Carr received 9.5 million shares; chief executive officer Tim Livesey (2,777,778); chief financial officer Robert Smeeton (3.5m) and executive director, exploration & business […]
United given $3.8m default notice for Abu Sennan
United Oil & Gas plc has received a default notice for US$3,822,143 outstanding cash calls for the Abu Sennan licence in which it tried to sell its 22% interest. DISCUSSIONS The company has 30 days, beginning 28 January, to address the November 2023 notice from operator Kuwait Energy Egypt Ltd under their joint operating agreement […]
Oriole notes strong due diligence results at Mbe
Oriole Resources plc reported strong results from due diligence sampling at its 90%-owned Mbe orogenic gold project in Cameroon. DILATION Joint venture BCM International Ltd, already signed to the Bibemi project, completed the work as part of the conditional earn-in agreement. The Australian company collected 639 in-situ pit (channel chip) and outcrop (rock chip) samples […]
United agrees two-year extension to Walton Morant
United Oil & Gas plc has agreed a two-year extension to the initial exploration period of its 22,400km2 Walton Morant block offshore Jamaica. CONFIDENT Pending the final signature by the Ministry of Science, Energy, Telecommunications and Transport (MSETT) on an amendment to the production sharing agreement (PSA) the licence will run to 31 January 2026. The company […]
Ascent faces U-turn ruling on partner’s insolvency
Ascent Resources plc faces an “unprecendented situation” after its Slovenia joint venture partner Geoenergo d.o.o. received approval to enter insolvency. REDRESS Ascent previously sought legal advice to stop the move and said that the court had not accepted Geoenergo’s creditor position and not approved the self-declared insolvency application. A hearing had been due on 23 […]