Power Metal Resources plc has raised a total of £1,080,000 via two placings, including one by a single investor, to fund drilling at its nickel sulphide project at Molopo Farms Complex, Botswana. PLACINGS The company said that the financing would also enable potential expansion of other priority exploration activities. In the first placing, Power Metal […]
Author: editorial
Block starts drilling well extension to test 200 MMbbls in Patardzeuli oil field
Block Energy plc has started drilling on the JSR-01DEEP well, an extension to the JSR-01 well, to test contingent resources of over 200 million barrels (MMbbls) in the Patardzeuli oil field in Block XIB in Georgia. PROJECT II The start of operations marks the beginning of Project II of the company’s three-project strategy in Georgia. Block […]
Red Rock intersects gold and mineralised zones at Bilbale
Red Rock Resources plc reported that three of four holes encountered gold and one intersected three gold mineralised zones from reverse circulation (RC) drilling at the Bilbale licence, southwest Burkina Faso. LICENCES Chairman Andrew Bell added that the mineralisation included a high grade zone near surface. The assets are held by Faso Greenstone Resources SARL […]
Prospex raises £500,000 via loan notes for Selva
Prospex Energy plc has raised £500,000 via the issue of unsecured convertible loan notes to existing and new investors. SUBSCRIBERS The company said that the loan notes had been issued to three individual subscribers. The loan notes hold 15% interest and are convertible into new ordinary shares at a price of 5.5p at any time […]
Scirocco shareholders request general meeting
Scirocco Energy plc said that a group of its shareholders had requested a general meeting to discuss strategy, share price and a revenue audit and funding of the Ruvuma gas interest in Tanzania. PROPOSED RESOLUTIONS The company added it would call a general meeting within 21 days of receiving a valid requisition. It will hold […]
Galantas receives C$264,333 via warrant exercise
Galantas Gold Corporation received C$264,333.60 (£174,000) from the early exercise of 700,000 warrants at C$0.33 and 83,334 warrants at C$0.40 by investor Ocean Partners UK Ltd. Following admission, Ocean Partners will have a 4,116,668 common shares representing 4% of the company’s issued share capita. The number of common shares in issue in the Canadian miner […]