Oriole Resources plc has completed converting the last two tranches of gross salary, totalling £51,000, under its directors’ salary sacrifice scheme which will be extended. COMPANY SHARE The company used the 30-day VWAP on 31 August 2022 (0.1785 pence) and 30 September 2022 (0.194 pence) respectively, for 17,427,633 new ordinary shares of 0.1p each. Following […]
Author: editorial
Hummingbird partner to take 100% of Dugbe
Hummingbird Resources plc said that its joint venture partner will exercise its right to take 100% ownership of the 2,559 km2 Dugbe gold project in southern Liberia. TERMS The project lies within the southwestern corner of the Birimian Supergroup which hosts most West African gold deposits. Hummingbird identified two deposits of Dugbe F and Tuzon […]
Hurricane Energy initiates own sale process
Hurricane Energy plc said it would begin a formal sale process after receiving an unsolicited cash offer from an unnamed bidder for the company. INDICATIVE OFFER The offshore oil and gas company added that the indicative offer of 7.7 pence per share was at a premium of “only 13%” compared with the mid-market closing price of 6.8 pence per […]
Reabold completes Corallian £32m sale
Reabold Resources plc said its investors can expect payouts following completion of the sale of its investee company Corallian Energy Ltd to Shell UK Ltd. CONSIDERATION The company expects that payment of the initial gross consideration of £10 million (c. £3.2m net to Reabold) will be made to Corallian shareholders (including Reabold) over the coming […]
Cadence to increase stake in Amapá iron ore
Cadence Minerals plc said it intended to increase its stake from 27% to 30% in the Amapa iron ore project in Brazil. FINANCE The company added it would retain its first right of refusal to acquire 49% of the asset. Cadence will earn the additional 3% through conversion of loans, capitalisation of management, consultancy, and […]
Cornish Metals signs additional rights at South Crofty
Cornish Metals Inc has increased its acreage by signing a lease for certain mineral rights next to its South Crofty tin project in Cornwall. GREAT FLAT LODE The Canadian company said that the deal with Roskear Minerals LLP is for a 49 hectare area adjacent to the southern boundary of its underground permission area. The […]