Ascent Resources plc has stopped its Slovenia joint venture partner, subject of an arbitration tribunal over funds owed, from entering self-declared insolvency. ABUSE In October 2023, the tribunal ruled Ascent’s entitlement to proceeds above the baseline production profile from all wells in the Petišovci onshore gas concession area. The company said its subsidiary Ascent Slovenia […]
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Power Metal signs non-binding MoU with Saudi Arabia
Power Metal Resources plc has agreed a non-binding memorandum of understanding with Saudi Arabia for potential exploration projects in the country. TECHNICAL The MoU was signed with the Ministry of Investment of the Kingdom of Saudi Arabia (MISA) at the recent Future Minerals Forum in Riyadh. Both parties will explore the possibility of a joint collaboration for “high value-added” investment […]
Corcel awards 3m share options to directors-executives
Corcel plc has granted a total 307,033,155 five-year share options to directors and key executives. An aggregate 15,745,290 options fall under the company’s existing enterprise management scheme. Each option entitles the holder upon exercise to one ordinary share of £0.0001 of the company. One third of the options issued will vest in December of each […]
Scirocco Energy CEO Tom Reynolds resigns
Scirocco Energy plc chief executive officer Tom Reynolds is resigning after shareholders earlier this week voted to sell the company’s interest in biogas and renewables. STRATEGIC OPTIONS Mr Reynolds stepped down as a director with immediate effect and will remain CEO until 12 July 2024 or an earlier date in agreement with the company. The […]
UKOG raises £750,000 via 3.7bn share placing
UK Oil & Gas plc (UKOG) raised gross £750,000 via a placing of 3,750,000,000 new ordinary shares at a price of 0.02 pence per share. The placing price represents a 20% discount to the closing price of 0.0250 pence per ordinary share on 11 January 2024, and 13% of the enlarged issued share capital. CMC Markets […]
CAML plans exploration with $57m and new licence
Central Asia Metals plc (CAML) ended 2023 with $57.2 million cash and growth plans with a new mid-scale copper exploration licence in Kazakhstan. EXPLORATION The company formed a new subsidiary CAML Exploration in an arrangement with a team from Terra Exploration. “Potential target areas have been reviewed and remain under review, and currently one exploration […]