Sunda Energy plc has signed has a letter of intent with Finder Timor-Leste B.V. to work together to secure a drilling rig for their respective operations offshore Timor-Leste. SCHEDULE Sunda is preparing to drill an appraisal well in the Chuditch gas field in 2027, later than the planned Q2 2026, while Finder proposes to drill […]
Tag: letter of intent
Fulcrum extends LoI date for Tully sale
Fulcrum Metals plc has extended the binding letter of intent to no later than 30 September 2025 for the sale of its 458-acre Tully gold project in Timmins, Ontario. PAYMENT The extension provides potential buyer with Loyalist Exploration Ltd more time to complete its CA$1,500,000 fundraise. The new deadline will also result in a further […]
Fulcrum to sell Tully gold project
Fulcrum Metals plc has signed a binding letter of intent to sell its 458-hectare Tully gold project in the Timmins mining district, Ontario. EXPOSURE Canadian purchaser Loyalist Exploration Ltd will pay CA$500,000 cash and issue 89,255,000 common shares to Fulcrum on completion of the transaction, representing 19.9% of its issued enlarged share capital. Fulcrum will […]
Guardian looks to expand with Tempiute option
Guardian Metal Resources plc looks to grow its portfolio with a binding letter of intent for an option to acquire the Tempiute tungsten mine and mill in south-central Nevada, US. RESOURCE The potential acquisition from Hinkite Resources LLC lies 290km by road from the company’s flagship Pilot Mountain tungsten project and less than 240km north […]
Power Metal signs LoI for Qatan earn-in
Power Metal Resources plc has signed a letter of intent for a binding agreement to earn a 49% stake in the Qatan exploration licence in southern Saudi Arabia. HABDAH The deal with Al Masane Al Kobra Mining Company will see Power Metal spend US$3 million on designing, conducting and funding all exploration and resource work. The company […]
Helium One issues notice to rig operator over delays
Helium One Global Ltd has taken legal advice and issued a rectification notice to its planned rig operator following continued delays to drilling operations at Rukwa in Tanzania. OPTIONS The company has had a series of issues over rigs since November 2022 when it had to change operator because of third-party legal complications. In January […]