Sunda Energy plc has agreed an unsecured loan with its chief executive officer Andy Butler for up to £1.5 million to finance the proposed purchase of an oil and gas exploration, development and production portfolio. CHUDITCH-2 The company has drawn down the first £400,000 of the loan to fund transaction costs of the proposed acquisition […]
Tag: acquisition option
Ormonde uneasy on Portsoy option value
Ormonde Mining plc has given a mixed reaction to its 18.9% investee Peak Nickel Ltd’s option offer for Winshear Gold Corp to acquire the Portsoy licence in Aberdeenshire. CHALLENGING If exercised, the Canadian explorer would need to complete a £3 million drilling programme for 1,000m over five years, with a minimum annual spend of £300,000. […]