Altona Rare Earths plc has agreed a £250,000 loan to advance the prefeasibilty study for Monte Muambe in northwest Mozambique. The two-tranche loan from Catalyse Capital Ltd, which has previously supported the company, will progress work focused on metallurgy. The repayment date is 20 December 2024 and the loan carries a fixed interest of 20% […]
Tag: loan
Serica secures new $525m loan with $1bn potential
Serica Energy plc has signed a new US$525 million secured reserves based lending facility, with the potential to double the figure to more than $1 billion. QUALITY The new transaction simplifies the company’s financing arrangement by replacing the existing RBL and junior facilities with a single facility. The existing RBL facility has $271m drawn and […]
Angus issues shares for £3m loan
Angus Energy plc received shareholders’ approval in yesterday’s general meeting to issue 516,033,308 shares at 0.66 pence to Kemexon Ltd in exchange for a £3 million loan. Following the issue of the shares, Angus will have 4,142,893,340 ordinary shares in issue, each with one vote. The company holds no ordinary shares in treasury.
Orcadian secures further six months to repay $1m loan
Orcadian Energy plc has agreed a six-month extension to repay a £1 million loan to Shell International Trading and Shipping Company Ltd. OPTIONS The North Sea oil and gas company’s deadline for the third extension is now 13 March 2024. Orcadian, which currently holds £92,000 cash and a monthly burn rate of less than £20,000, […]
Orcadian agrees more time to repay £1m loan to Shell
Orcadian Energy plc has secured an extension to the repayment date of its $1 million loan plus interest to Shell International Trading and Shipping Company Ltd (Stasco). PILOT FIELD The deadline for repayment has been extended from today to 13 September 2023. Orcadian, which currently holds £95,000, said it was in discussions with Stasco for […]
Angus in talks to refinance debts with $25m loan
Angus Energy plc has signed a non-binding conditional agreement for an 18-month loan of up to US$25 million with Aleph Commodities Ltd. If both parties proceed, the funds will refinance the £7.35m outstanding under the senior facility and the £3m and £6m bridge loans. The company is also in discussions with another financial provider for […]