Corcel plc said it had refinanced its debt totalling £673,348 with lenders Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. REPAYMENTS The company will pay £235,671 cash in the coming three months and a 5% refinancing fee will be added to the outstanding balance. The remaining £471,343 will be subject to a twelve-month […]
Tag: Corcel plc
Corcel agrees farm-out and JV for Mt Weld
Corcel plc has signed a farm-out and joint venture agreement for its recently acquired rare earth elements (REE) project at Mt Weld in Laverton, Australia. MT WELD In early December 2022, the company acquired licence P38/4489 holding a granted mineral tenement, located 1.4km (0.9 miles) west-north-west of Lynas Rare Earths Ltd’s Mt Weld REE mine. […]
Corcel’s proposed director to subscribe for 38.8m shares intended for distribution
Corcel plc said that its proposed director Mr Yan Zhao will subscribe for a third of shares previously earmarked for distribution by private investment company AUSPECT Investment PTY Ltd. FUNDRAISE On 14 December 2022, Corcel announced it had raised £466,000 at a “significant premium” to the current share price from AUSPECT. The Australian company had told […]
Corcel raises £466,000 from private investor AUSPECT
Corcel plc raised £466,000 at a 95% premium to the current share price from private Australian investment company AUSPECT Investment PTY Ltd. AUSPECT was introduced by the company’s proposed director Mr Yan Zhao who is a non-executive director of Corcel’s proposed joint venture partner Shangdong New Power COSMO AM&T (NPC). Corcel issued 116,500,000 new ordinary shares of £0.0001 […]
Corcel exercises option to acquire Mt Weld REE
Corcel plc has exercised its option to acquire 100% ownership of the Mt Weld rare earth elements project within licence P38/4489 near Laverton in Western Australia. LICENCE The project, covering 171 hectares, lies 1.4 km (0.9 miles) with the granted mineral tenement straddling the mine access road to Lynas Rare Earths Ltd’s Mt. Weld mine. Corcel […]
Corcel reports increase in costs while losses widen
Corcel plc reported widening losses at the end of year in which it expanded its metals assets in Papua New Guinea (PNG). FINANCES Final audited results for the year ended 30 June 2022 show losses of £2.1 million (2021: 1.2m). Administrative costs rose to £1.26m (2021: 1.0m) reflecting increased insurance costs, professional services costs, share […]