Red Rock Resources plc and Power Metal Resources plc have started the incorporation of a new holding company for their joint venture in the Victoria gold fields, Australia. IPO The companies’ current joint company, Red Rock Australasia Pty Ltd (RRAL), will be held in New Ballarat Gold Corporation plc (NBGC). RRAL will become a wholly owned […]
Tag: gold
Altus discovers hard rock artisanal gold workings in Egyptian projects
Altus Strategies plc has discovered numerous hard rock artisanal gold workings at its Gabal om Ourada and Wadi Dubur projects in the Eastern Desert of Egypt. RECONNAISSANCE The company’s 100% owned subsidiary, Akh Gold Ltd holds gold exploration licences covering 1,565 km2. The 37 hard rock artisanal gold workings were discovered from field reconnaissance across two […]
Oriole raises £1.77m via placing-subscriptions
Oriole Resources plc said it had conditionally raised £1.77 million before expenses, comprising £1.75m in an oversubscribed placing and £20,000 as director subscriptions. The fundraise was through issuing a total of 416,470,880 new ordinary shares, of which 4,705,881 was for the directors, at a price of 0.425 pence per share. The proceeds from the placing […]
Caerus notes significant gold-copper at Kalavasos dump
Caerus Mineral Resources plc said it had identified significant copper and gold mineralisation in the dump evaluation programme and general exploration of the Kalavasos project in Cyprus. EVALUATION Gold grades in particular were in 85% of all samples collected and returned anomalous grades. The company added that subject to metallurgical test work, the grades were […]
Alba extends Dogellau gold field exploration licence
Alba Mineral Resources plc has expanded exploration with additional licences within and adjacent to the Dolgellau gold field in North Wales. LICENCE Alba’s wholly owned subsidiary Dragonfire Mining Ltd has been granted a new option agreement by The Crown to extend its existing exclusive exploration rights. The company said that the new six-year option agreement […]
RRAL discovers historic mine workings in Victoria
Red Rock Resources Australasia Pty Ltd (RRAL) announced it had discovered 150-year-old workings and well-developed adits at its gold exploration licences in the Victoria gold fields in Australia. JOINT VENTURE The joint venture company, between Red Rock Resources plc (50.1%) and Power Metal Resources plc (49.9%) said it had started a re-entry programme at the […]