Investors in Tower Resources PLC (AIM:TRP) should be pleased with the news of a new, more beneficial, funding route for drilling offshore Cameroon.
Tower on Monday announced it is redrawing its funding plans for drilling the NJOM-3 well at the Thali project, as a planned farm-out of 49% to Beluga Energy for US$15mln was shelved. A new proposal is being worked on by all the parties, Tower noted.
Mosman Oil and Gas Ltd (AIM:MSMN) has raised £1.1mln of new capital through a placing to fund the drilling of its first re-development well at the Challenger project in Texas.
At Challenger, 97% owned by Mosman, the plan is to start drilling in August or September. The target is to increase Mosman’s net production to 245 barrels of oil per day (boepd), from around 130 boepd.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) is to receive a grant of up to A$200,000 (£113,000) under the Western Australian government's Exploration Incentive Scheme (EIS).
The grant will be used to co-fund exploration at Greatland's 100%-owned Rudall licence, which is located 20km southeast of Greatland's Havieron gold-copper resource in Western Australia.
Neuroimaging specialist IXICO PLC (AIM:IXI, OTC:PHYOF) has won its third Huntington’s Disease (HD) contract in the space of two months.
It is part of a consortium of biopharma businesses and charities developing imaging biomarkers (tell-tale signs) that could lead to early detection of the degenerative brain condition.
Caerus Mineral Resources PLC has released results from exploration on its Kambia-Kapedes project licences in Cyprus.
The first batch of partial assays of chip-channel samples from recent exploration work returned peak gold assays of 7.4 grams per tonne gold and 5.3 grams gold.
Seeing Machines has won its first contract with a Japanese carmaker for driver monitoring technology
The contract, worth an initial A$$21mln, is due to start production in 2025 and takes the total number of contracts with vehicle makers (OEMs) globally to nine.
Ora Banda Mining Ltd (ASX:OBM) has made tracks on stage one of its operational reset plan (ORP), which covers the Davyhurst gold play in Western Australia’s Eastern Goldfields.
The ORP is described as an important step-change for Ora Banda as it works to consolidate its operations, cut costs and focus on cash generation over the next two years.