Scotgold Resources Ltd said it could appoint administrators over the coming days after a prospective investor withdrew from financing discussions for the Cononish gold-silver mine. The Australian company, which last week put some of its staff on unpaid leave, also faces action from an unnamed creditor. In a statement today, Scotgold said: “The company has […]
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CMR signs binding heads of terms earn-in for Zagora
Critical Mineral Resources plc (CMR) has signed a binding heads of terms to earn-in to the Zagora cobalt project in Morocco. MILESTONES The project, 25km southwest of Zagora City and 90km south of the Bou Azzer mining district, has shown near-surface cobalt mineralisation with the “potential for a shallow discovery”. CMR said that assays from […]
Orcadian raises £350,000 via subscription
Orcadian Energy has raised gross £350,000 via issuing 2,916,666 new ordinary shares each of £0.12 of the company. The fundraise, part of a direct subscription with new investors, is at a discount of approximately 14% to the closing mid-price of an ordinary share in the company on 29 September 2023. Proceeds will go towards working […]
Scirocco receives approval to sell Ruvuma interest
Scirocco Energy plc has received approval from the Tanzanian Minister of Energy to its 25% interest in the Ruvuma gas asset. With all conditions precedent now satisfied, Scirocco and purchaser ARA Petroleum Tanzania aim to complete the transaction in the coming weeks.
Cornish Metals grants 800,000 options to CDO Fawzi Hanano
Cornish Metals Inc will issue 800,000 options over common shares to its chief development officer Fawzi Hanano. The options have an exercise price of £0.18 per share, the same as those granted earlier in 2023 and the investment price paid by Vision Blue Resources in the £40.5 million fundraise in May 2022. The granted options […]
Scirocco agrees further time to complete Ruvuma sale
Scirocco Energy plc has amended the deadline, from 30 September to 20 October 2023, to complete the sale of its Ruvuma gas interest to ARA Petroleum Tanzania (APT). PRUDENT The company said that “significant” progress had been made and that it was awaiting final approval from the Tanzanian Minister for Energy to satisfy all conditions […]