Prospex Energy plc has received €280,090 net owed performance bonds from the Italian state for completing the gas pipeline tie-in from the Selva gas field joint venture in Po Valley, Italy. AGREEMENT Project operator Po Valley Operations Pty Ltd (PVO) holds 63% and Prospex has a 37% working interest. PVO recovered gross performance bonds of […]
Author: editorial
Cadence agrees up to $10m loan for Amapá
Cadence Minerals plc has agreed up to a US$10 million loan to develop the Amapá iron ore project in Brazil, including optimisation studies on the processing route and environmental licensing. TRANCHES A commitment of an initial tranche of $2m has been agreed with Riverfort Global Capital Ltd to be entered into by RiverFort Global Opportunities […]
Cadence to save $28m by relocating Amapá rail loop
Cadence Minerals plc has identified savings of approximately US$28 million, or 24%, on the cost of refurbishing the port at the Amapá iron ore project in Brazil. UNLOADING The figure follows the company’s review of the scoping study, completed in March, and integration into the original pre-feasibility study published in January this year. “The savings […]
Corcel awards 3.5m incentive shares to CEO
Corcel plc has awarded 3,506,490 ordinary shares of £0.0001 each in the company under its share incentive plan (SIP) to chief executive officer Scott Kaintz. The company said that the awards were for the 2022-23 tax year as agreed in the trustees meeting held on 5 April 2023. Also in respect of the same tax year, Mr Kaintz […]
Aggregates West appoints Neil Gawthorpe as a director
Aggregates West Ltd has appointed Neil Gawthorpe as a director effective on 23 May 2023. The chief executive officer of parent company Tungsten West plc has also been appointed a director at Tungsten West Services Ltd. On 6 May, co-founder and former Tungsten West executive chairman Mark Thompson resigned from Aggregates West and ceased to […]
Hurricane Energy profits surge and debt clears
Hurricane Energy plc recorded a surge in post-tax profits from a “challenging and highly successful” year at its Lancaster field operations, west of Shetland. FINANCES Full-year results for the year ended 31 December 2022 showed company revenues increased to $310.8 million from six liftings of Lancaster crude (2021: $240.5m from seven liftings). Profit after tax for the period amounted to […]