Cornish Metals Inc ended last year with a significant increase in cash despite nearly doubling losses at its copper-tin project in Cornwall. FINANCES The Canadian company published its annual results on the same day it announced that Sir Mick Davis‘s Vision Blue Resources Ltd will be the ‘controlling person’ with the completion of a £40 […]
Tag: copper
Cornish Metals shareholders back VBR control for £40.5m
Cornish Metals Inc said its shareholders had accepted Vision Blue Resources Ltd (VBR) ownership of up to 43% to secure £40.5 million for the South Crofty tin-copper project. RESOLUTIONS The Canadian company added that the Secretary of State had confirmed no action would be taken under the UK National Security and Investment Act 2021 in […]
Anglesey raises £864,416 via placing-subscription
Anglesey Mining plc said it had raised a total of £864,416 gross proceeds from a placing and subscription. DEBT RESTRUCTURING A placing of 22,829,705 ordinary shares with institutional and other investors at a price of 3.4 pence per share raised £776,210. Chairman John Kearney and chief executive officer Jo Battershill subscribed for an additional 2,594,284 […]
Power Metal restructures Australia subsidiary
Power Metal Resources plc has restructured its subsidiary with interests in Australia by acquiring 100% of Pardoo Resources Pty Ltd holding gold-copper interests in the Paterson Province. STRUCTURE Power Metal owns 83.33% of First Development Resources (FDR UK). Pardoo is an Australian exploration holding company which holds projects in trust for First Development Resources Pty Ltd (FDR Australia). In 2021, […]
Caerus notes ‘ready-made’ drill targets
Caerus Mineral Resources plc reported high grade gold assays made for a target ready to drill at its Kambia – Kapedes copper-gold project in Cyprus. KAMBIA The Kambia mine operated between 1952 and 1960 primarily as a pyrite mine and the Kokkinovounaros (Red Hill) auriferous gossan was discovered and mined for a short time during the 1930s. […]
Kavango notes potential second target at Great Red Spot in KSZ
Kavango Resources plc said it had found a second target, similar to the Oylmpic Dam polymetallic operation, in the Great Red Spot (GRS) in its Kalahari Suture Zone (KSZ) nickel-copper project in Botswana. GREAT RED SPOT The company added that the GRS conformed to an idealised model for a large iron oxide copper-gold (IOCG) style […]