Europa Oil & Gas (Holdings) plc has agreed to swap revenue from its share of the Wressle onshore oil joint venture for US$500,000, paid upfront. RESOURCES The payment to an unnamed Canadian investment company will equal 4.5% of the gross revenues from the Wressle 1 well in North Lincolnshire. Europa said that the agreement is […]
Tag: finance and funding
United raises £140,000 via placing
United Oil & Gas has raised gross £140,000 through a placing of 100 million new ordinary shares of £0.0001 each at a price of 0.14 pence per share with an existing shareholder. TVRs The placing utilises the company’s current remaining share issuance authority, excluding existing warrants. Following admission, United’s total issued share capital will comprise […]
FCM investor appoints administrators
First Class Metals plc said it was seeking new funding after its largest investor The Seventy Ninth Group Ltd appointed administrators. DISCUSSIONS The move follows a current fraud investigation by City of London Police into Seventy Ninth and the subsequent resignation of the chairman of both companies David Webster. In December 2024, FCM secured a […]
Kavango secures $5m CLN
Kavango Resources plc has secured a US$5 million convertible loan note for mine development, equipment and construction of a gold processing plant at Hillside in Matabeleland, Zimbabwe. MINING The interest-free CLN is with a consortium of Zimbabwe-registered pension funds, whose agent and administrator is Comarton Consultants (Private) Ltd. The funds can be drawn in three […]
Focus raises £317,500 via placings
Focus Xplore plc has raised an aggregate £317,500 via placing new ordinary shares to progress activities in Ontario, Canada. TVRs The fundraise started in February under the company’s previous name of Katoro Gold with a placing of 635 million new ordinary shares, at a placing price of 0.05p per placing share to raising £307,500. The […]
Redmoor exploration bolstered by £1m fundraise
Cornwall Resources Ltd’s parent company has raised £1 million via a 25% discounted placing of 333,333,333 new ordinary shares to certain investors at a price of 0.3 pence per share. TUNGSTEN Strategic Minerals plc said that proceeds of the oversubscribed placing would be mainly used to progress the Redmoor tungsten-tin-copper project in Cornwall and for […]