UK Oil & Gas plc has appointed specialist adviser Envoi Ltd for the farm-out of up to 50% of the Loxley gas and hydrogen feedstock project. COSTS The farm-out aims to have the planned Loxley-1 appraisal drilling and testing programme carried by the future partner or partners. UKOG said that there were also separate “active […]
Finance & Funding
Kavango raises £3m via Purebond support
Kavango Resources plc has raised £3,085,366 by issuing 257,113,862 new ordinary shares in the capital of the company at a price per share of 1.2 pence, via an underwritten accelerated bookbuild. DIRECTORS The company’s major shareholder Purebond Ltd, which subscribed for 221,213,862 new ordinary shares, underwrote the accelerated bookbuild. Purebond’s previous May 2023 investment in […]
WCM needs ‘substantial’ additional funds
West Cumbria Mining Ltd said it would need “substantial” additional financing to develop and construct its underground coal mine and Woodhouse colliery in Whitehaven, Cumbria. EXPECTATION WCM’s 2023 annual report states that as at 31 December 2023, the group held cash reserves of £6.8 million which had fallen to £5.6m as at 5 April 2024 […]
Ascent to appoint David Bullion as NED
Ascent Resources plc intends to appoint David Bullion as a non-executive director among other board changes as it enters the mid-stream sector. Mr Bullion is CIO of American Helium and CEO of GNG Partners LLC, before which he held senior positions across the world during his 20 years with BP. Ascent also intends to appoint […]
Scirocco sets date for vote to cancel trading
Scirocco Energy plc shareholders will vote on 7 May on how the company should return cash to them and on cancellation of trading on AIM. Scirocco’s investors will also vote on re-registration as a private company and adoption of new articles of association. The company expects the final day of trading for existing ordinary shares […]
Horizonte could sell Araguaia as funding talks fail
Horizonte Minerals plc could sell its Araguaia nickel project in northeast Brazil, resulting in a loss for shareholders, after full funding talks failed. NICKEL MARKET The company added it had been unable to secure interest in the full financing needed, citing investors concerns over the nickel market. Horizonte’s options now include raising financing at the […]