Angus Energy plc received shareholders’ approval in yesterday’s general meeting to issue 516,033,308 shares at 0.66 pence to Kemexon Ltd in exchange for a £3 million loan. Following the issue of the shares, Angus will have 4,142,893,340 ordinary shares in issue, each with one vote. The company holds no ordinary shares in treasury.
Author: editorial
Mechanical and electrical faults stop Tai-3 drilling
Further drill rig problems at the Tai-3 well have halted operations at Rukwa, southwest Tanzania. RESERVOIR TARGET Licence holder Helium One Global said that a mechanical and an electrical fault on 29 October during drilling the final section had resulted in a temporary rig shut down. “Whilst running back in hole following a drill bit […]
Anglesey shareholders oust chairman John Kearney
Anglesey Mining plc shareholders voted against re-electing chairman and director John Kearney after his nearly 30 years’ service with the group. INSTRUMENTAL At the company’s general meeting on 27 October, the resolution to re-appoint him received 93,533,645 votes in favour, 103,058,404 against with 256,302 withheld. Non-executive director Andrew King will act as interim chairman while […]
Upland cancels offer period over doubtful takeover bid
Upland Resources plc has terminated the offer period relating to an unsolicited approach earlier in the week for a possible takeover, which it rejected. REMOVAL In a statement on 27 October the company said: “The board of Upland now advises that it has received information that has cast significant doubt on the veracity of the […]
FCM granted exploration permits for North Hemlo-Esa
First Class Metals plc (FCM) has been granted two exploration permits for the company’s North Hemlo and Esa polymetallic properties in the Hemlo area of northwest Ontario. DRILL LOCATIONS The company said it was on target to bring four of its properties to drill-ready status, with the possible exception of Esa, and to drill one […]
Cornish Metals opens water treatment plant
Cornish Metals Inc. has commissioned and officially opened the water treatment plant in readiness for the start of dewatering the South Crofty tin mine. RED RIVER A high density sludge bed has built up within the plant and discharge of treated water from the mine into Red River will begin the week beginning 30 October […]