First Class Metals plc (FCM) has received full payment of its 2022-23 Ontario junior exploration grant (OJEP) for work carried out on its flagship North Hemlo property. DISCOVERY OJEP helps junior mining companies finance early stage exploration projects in Ontario. The payment of CA$140,000 of the maximum $200,000 grant to FCM is for the successful […]
Author: editorial
Kistos spuds Benriach exploration oil well
Kistos Holdings plc reported progress on its drilling activities offshore United Kingdom and Netherlands. BENRIACH The Benriach exploration well, on block 206/05c (Kistos 25%) West of Shetland has been spudded by the Transocean Barents. Kistos said that operator TotalEnergies E&P UK estimated it was targeting P50 prospective resources of 638 bcf (160 bcf or 28mmboe […]
Predator issues 3m share options to Morocco director
Predator Oil & Gas Holdings plc has issued three million share options to Moyra Scott, drilling manager in Morocco. The award of unallocated share options is under the company’s existing option scheme following her appointment as a director of the group’s subsidiary Predator Gas Ventures Ltd. The options issued on 27 March 2023 are exercisable at […]
Angus agrees £3m loan with Kemexon
Angus Energy plc has agreed a £3 million junior debt facility from commodity trading house and the company’s 9.91% shareholder Kemexon Ltd. BRIDGE FACILITY The ‘bridge facility’ has an initial term of three months, extendable by paying a 3% roll fee for a further three months. The debt is priced at SONIA* + 15% and commits the company to issue […]
Corcel completes £1m placing with cornerstone investor
Corcel plc has completed a placing for £1,055,515 with an oil and gas focused cornerstone investor group. USES The fundraising was at a price of £0.0035, representing a 11% premium to the closing price of 27 March 2023 and a 16.6% premium to the 30-day VWAP. Corcel issued 301,575,574 new ordinary shares of £0.0001 to a […]
Clontarf signs direct lithium extraction JV in Bolivia
Clontarf Energy plc has signed a formal joint venture (JV) agreement with NEXT-ChemX for ion-targeting direct lithium extraction (iTDE) in Bolivia. TECHNOLOGY The deal follows February’s heads of agreement for the 50-50 JV to demonstrate the technical, commercial and environmental feasibility of iTDE. The JV will hold exclusive rights to deploy and commercialise NEXT-ChemX’s iTDE technology in Bolivia, and […]