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Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, is pleased to announce that it has conditionally raised £600k in a placing, including £32k as subscriptions by certain Directors (together, the 'Placing').
The funds will be used to advance the Company's assets in Cameroon during the 2022/23 field season and, more specifically, will focus on drill target identification at the Central Licence Package ('CLP') Project, as well as on work to support the delivery of a JORC 2012-compliant Inferred Mineral Resource at the Bibemi Gold Project ('Bibemi').
Highlights
· £600k conditionally raised (before expenses) in a placing, including £32k subscriptions by certain Directors);
· In aggregate, 500,000,000 new ordinary shares ('Placing Shares') will be issued at a price of 0.12 pence per share (the 'Placing Price'). The Placing Price is equal to a 27% discount to the 14-day Volume Weighted Average Price ('VWAP') of the Company's ordinary shares at 27 October 2022;
· Immediately following the Placing, the Directors will collectively hold 3.39% of the issued share capital of the Company; and
· Proceeds will primarily be used to advance the Company's exciting exploration assets in Cameroon.
Oriole CFO, Bob Smeeton, said: "The Company has made great progress in advancing its gold assets in Cameroon, most recently with the announcement of a JORC-compliant Exploration Target at Bibemi, as well as excellent early-stage results from the CLP project. Our work continues to justify our belief that Cameroon has the potential to become a new district for gold exploration.
"The progress to date has been rapid and we are now entering a new field season that will see us advance Bibemi towards a maiden Mineral Resource on which the Company can build. We also anticipate that our greenfields exploration programmes at the CLP will help identify the first drill targets there, ahead of planned maiden drilling which is planned from Q4-2023 onwards.
"Consequently, the 2022/23 field season is relatively inexpensive and the fund raise announced today reflects that. As has been widely reported, the global economic conditions are extremely poor, and to be able to successfully complete a fundraise in these market conditions emphasises the demonstrable progress we are making in building market confidence in our assets, as a result of our ongoing work programmes. The raise, which was completed without the overhang of warrants, provides the funds we need to deliver meaningful progress at our exploration projects over the coming months and we look forward to keeping the market updated on that progress."
Still not showing on here so try this link
https://www.londonstockexchange.com/news-article/MSMN/cinnabar-development-well-planning-and-placing/15690793
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces that as a result of the work programme to bring the new development well at Cinnabar onto production, other near term production opportunities have now been identified.
Mosman has successfully drilled a development well at the Cinnabar project (Cinnabar-1), and flow rates will be announced when received. Mosman will use the results to update an independent Reserves Report on the Cinnabar property, which was previously produced for a third party.
Whist drilling the Cinnabar-1 well, attention was turned to the two older wells on the Cinnabar lease, which is Held by Production. These wells, Arco Fee G-1 ('G1') and Arco Fee G-2 ('G2') were originally drilled in the 1980's and both produced significant oil and some gas. Both wells are drilled to approximately 10,000 feet and completed for production.
Mosman has been working on near term opportunities to increase production at these two production wells and identified the following lower cost opportunities:
· Install artificial lift (eg. gas lift) to increase production from the existing G-1 well;
· Review the potential to recomplete G-1 well in deeper Wilcox zones;
· Workover the existing G-2 well with the intention of producing from the 1st Wilcox sand that was the main production sand in G-1 but has not been produced at G-2; and
· Review the potential to recomplete G-2 in deeper Wilcox zones.
The detailed desktop work required before field work has now commenced.
Mosman owns a c.75% working interest in the Cinnabar well and the Cinnabar lease. Mosman Operating LLC, a 100% owned subsidiary of Mosman, is the Operator of the lease.
Further to the announcement of 17 October 2022, Corcel provides the following update on the subscription by the Shandong New Power COSMO AMT ("NPC").
As announced on 17 October 2022, NPC has subscribed for 50,000,000 new ordinary shares at a price of 0.4 pence per new ordinary shares (£200,000). The subscriber's bank has confirmed funds have been sent, however following delays with the international transfer process, the Company has agreed to extend the settlement date to 31 October 2022.
Application has been made for the 50,000,000 Initial Investment to be admitted to trading on AIM and it is expected that their admission to AIM will take place on or around 31 October 2022 (" Admission").
Following Admission, the Company's total issued share capital will consist of 580,208,295 Ordinary Shares, with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 580,208,295 from Admission. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company pursuant to the FCA's Disclosure Guidance and Transparency Rules.
If it goes through, this link should take you straight there to register:
https://www.investormeetcompany.com/evgen-pharma-plc/register-investor
Drilling has started, further updates in due course, approx 2 weeks
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02579810-6A1114493?access_token=83ff96335c2d45a094df02a206a39ff4
I thought both Mark and Nigel had a tired look about them yesterday, i've seen that look many times in people who are working overtime to get a job done and they didn't have the demeanour of people trying to do me over. I think they're doing their best to progress with the means they have at their disposal.
Yeah it could have been handled differently but it's done now.
Keep in mind we're not a business that hold assets that we can go to the bank to borrow against.
They've put their money in as well and their averages took a battering same as ours. Yes, we have more shares in issue but we're moving forward quickly by way of exposure, contracts and revenues (to come).
And right now what with the Pumas releases and the World Cup fast approaching, plus designs, negotiations and contracts these guys are hands on, flat out and probably won't have a break for months and months.
We're a growth company and like they said, as revenues increase they hope we'll be at a point where we don't have to raise.
I look forward to the upcoming announcements on contacts and NFT releases which as per dgbell7 post at 09:20 are available to view.
LOL no, I'm just another optimist and Hepseal I'm not City either.
I may not like how it is right now but my hopes as to where we might be hasn't, just that it's going to take longer unless some BIG BIG news around contracts and profits are released.
I first bought a million of these in my wife's ISA in the low 20s, then I thought hang on, if she ever does one I'll be skint, so I bought a a couple of mil in mine at a good price but then hope got the better of me and I topped up a few times at the wrong price and amounts so my ave took a battering so isn't as good as hers.
Personally I don't think having faith and being optimistic about one's investment should be perceived as "ramping".
For those who took a dim view of his posts, did the fact that after all his doubts Steve_d was confident enough to buy in the other day give people encouragement to do the same? Maybe it did maybe it didn't, but he's certainly no "ramper", he's just another optimistic investor like rest of us... no offence intended here Steve.
All of us who are invested are hurting just the same.
I've emailed them all just now as well.