Sunda Energy plc has been awarded non-operated interests in two petroleum service contracts for licence areas, offshore the Philippines. HIGH IMPACT The company bid in a group with operator Triangle Energy (Global) Ltd, PXP Energy Corporation and The Philodrill Corporation. Sunda holds a 37.5% interest in the two blocks located in the southwest of the […]
Tag: joint venture
Helium One agrees JV for Rukwa
Helium One Global Ltd has secured a Government free carried interest of 17% under a new joint venture for its mining licence in the southern Rukwa Rift Basin, southwest Tanzania. SONGWE The new joint venture will be incorporated as Songwe Helium Ltd, of which Helium One will own 83%. The company will appoint three board […]
Red Rock pays part of Australia JV share purchase
Red Rock Resources plc has paid part of the amount due to acquire its partner’s 49% share in their Australian gold exploration joint venture. CLNs The company announced earlier this year its intention to purchase Power Metal Resources plc’s share in New Ballarat Gold Corporation plc. NBGC, held by local operator Red Rock Resources Australasia […]
CMR sets up JV trading arm in Morocco
Critical Mineral Resources plc has agreed a joint venture to trade mined metals and industrial minerals from Morocco. EXPERTISE The 70-30% deal is with “a Moroccan trading company” which has access to sources of mined materials and international customers. Both partners will also “source metal and mineral concentrates and raw ores” before arranging delivery to […]
Sunda applies for Philippines offshore licences
Sunda Energy plc has applied for two offshore licence areas in the Philippines containing “several material gas discoveries and significant upside potential”. STRATEGY The applications were made in a joint venture partnership with three other companies. If successful, the company expects to hold a 37.5% non-operated interest in any service contracts awarded. The applications were […]
Power Metal extends uranium JV due diligence
Power Metal Resources plc has extended the due diligence period for the creation of a uranium-focused joint venture in Canada. PROGRESS The June agreement for the company’s entire Saskatchewan portfolio with ACAM LP includes a £2m subscription and a £10m non-binding term sheet. Power Metal holds 16 properties over a combined 92,407ha (924.07km2), surrounding and within […]