Galantas Gold Corporation said it had signed a further loan agreement for US$530,000 and extended its current £1.06 million loan with Ocean Partners UK Ltd for the Cavanacaw mine in Omagh, Northern Ireland. USES The Canadian company said it would use the funds to development underground mining operations and for working capital. Ocean Partners offers […]
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Anglesey Mining starts work on Parys TMS
Anglesey Mining plc has started work on the tailings management system (TMS) for its base and precious metals project at Parys Mountain in North Wales. KNIGHT PIÉSOLD Parys Mountain hold a copper-zinc-lead-silver-gold with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the indicated category and 11.7Mt at 2.8% combined […]
Neptune begins drilling Ofelia exploration well
Neptune Energy has started drilling on the Ofelia exploration oil well in the Norwegian sector of the North Sea. OFELIA The Ofelia prospect is located 13km north of the Gjøa field within the Neptune-operated PL929 licence, and lies in one of Neptune’s core areas and close to existing infrastructure. The reservoir target is the Lower […]
Power Metal increases Canadian uranium assets
Power Metal Resources plc has increased its Canadian uranium portfolio to 10 properties and plans more acquisitions in the area surrounding the prolific Athabasca Basin in Saskatchewan, Canada. PROPERTIES The three new properties, covering 271km2, include Porter Lake, Old Woman Rapids and Reindeer Lake and take the company’s total holding to 721km2. TERMS Power Metal’s costs […]
Red Rock issues £623,000 of convertible notes
Red Rock Resources plc has issued £623,000 of convertible notes with accompanying warrants to high net worth investors. CONFIDENCE The company said that £367,000 of subscriptions for the notes were new subscriptions, and £256,000 were conversions of debt facilities. The notes were issued at par and are convertible into ordinary shares of £0.0001 in Red […]
Deltic-Shell commit to drilling Selene
Deltic Energy plc and joint venture partner Shell UK Ltd have made the investment decision to drill the high impact Selene gas prospect off the northeast coast of England. SCHEDULES The company added that the timing of a well slot had yet to be confirmed and would be subject to drilling schedules. This is expected […]