IOG plc has appointed Les Wood as an independent non-executive director (NED) with immediate effect. He will in due course become chair of the company’s audit committee. Mr Wood has 35 years’ experience in financial and operational delivery for independent and integrated energy companies across multiple jurisdictions. As chief financial officer (CFO) and executive director […]
Author: editorial
Horizonte advances Araguaia ahead of production
Horizonte Minerals plc has advanced its Araguaia nickel project by completing the earthworks, 95% of detailed engineering and progressing electro-mechanical installations at the site in northeast Brazil. PREPARATIONS The company remains on schedule for production in Q1 2024 with 50% of the Araguaia Line 1 construction programme now complete, on budget, and 90% of the total capital […]
Scotgold long hole stoping ‘performing well’
Scotgold Resources Ltd said its new approach of long hole stoping was “performing well and in line with management’s expectation” at the Cononish gold and silver mine near Tyndrum in Scotland. CONSISTENT During the first week of April, the company changed its plans from extracting ore via level development and cut-and-fill stoping, following poor gold […]
Scotgold targets up to £2m in further fundraise
Scotgold Resources Ltd aims to raise £1.5 to £2 million via an open offer and a subscription for its operations at Cononish gold and silver mine near Tyndrum in Scotland. OPEN OFFER Existing shareholders can subscribe for up to 10,065,262 new ordinary shares of 15 pence to raise up to a maximum of £1.5m. Directors participating include […]
Hummingbird progresses Yanfolila-Kouroussa
Hummingbird Resources plc maintained steady performance at its Yanfolila gold mine in Mali while remaining on schedule for first gold pour at Kouroussa, Guinea. CONTRACT Results for Q1 2023 showed production continuing from the end of the previous year with 27,262 ounces (Q4 2022: 28,264: Q1 2022: 15,548). Q1 2023 all-in sustaining cost (AISC) from […]
UKOG finds oil shows in Pinarova-1 well
UK Oil & Gas plc (UKOG) said it had encountered oil shows in drill cuttings from 300 to 400 metres depth in the Pinarova-1 exploration well within the target Eocene Hoya limestone in Turkey. SWAB TESTING The company’s joint venture aims to discover whether the Pinarova structure is connected to an underlying 9km2 light oil […]