Galantas Gold Corporation has entered into an agreement with Ocean Partners UK Ltd to sell call options on 6,000 oz gold over 12 months on behalf of the company for US$804,000. USES Ocean will sell the call options at 500 oz per month from February 2024 to January 2025 at a strike price of $1,775 […]
Tag: metals and minerals
Oriole to write down £1.45m for Thani Stratex gold
Oriole Resources plc said it would write down £1.45 million for the carrying value of its Thani Stratex interest after its investee company relinquished the Hodine gold exploration licence in Egypt. BUSINESS STRUCTURE The licence, containing the Anbat and Hutite projects, lies in the southeast of the country. Oriole holds a 24.94% interest in privately-owned […]
WCM’s plans for coal mine approved
West Cumbria Mining Ltd (WCM) has received approval to develop the United Kingdom’s first deep coal mine in 30 years near Whitehaven off the coast of Cumbria. NET ZERO Secretary of state for levelling up, housing and communities Michael Gove granted his consent in a 419-page letter published on the night of 7 December. “The […]
Horizonte draws down first tranche of $346.2m debt for Araguaia
Horizonte Minerals plc said it had drawn down the first tranche of the US$346.2 million senior debt facilities for its 100%-owned Araguaia nickel project in Brazil. CONDITIONS The move follows the company satisfying all conditions precedent and also unlocks the balance of the funding to complete construction and commissioning of the project. Horizonte company has […]
Power Metal identifies visible sulphides in T1-3
Power Metal Resources plc has identified visible sulphides in one of its target areas at the 1,723km2 Molopo Farms Complex nickel-platinum group element project, southwest Botswana. DRILL TARGETS In September 2022, the company began its inaugural drill programme for 2,600m and reported visible sulphides in its first drill hole in target area T1-6. Power Metal has […]
Caerus to sell copper assets for larger projects
Caerus Mineral Resources plc plans to sell its Cyprus copper assets to two of its shareholders, PM Ploutonic Metals Ltd and Indo-European Mining PR Ltd, and evolve into a battery metals company. STRATEGY Caerus has signed a binding heads of agreement with the two companies, signalling the end of its direct involvement in Cyprus. The […]