SolGold said it had entered agreements to place almost 22 million shares at £0.035 per share with UK institutional and other third-party investors, raising AUD1.14m in the process. The company said it intended to use the funds to continue its exploration and project development efforts across projects in the Solomon Islands, Ecuador and Australia.
Edenville Energy, the African energy exploration and development company, rose 5% on Monday morning after it announced "very encouraging" results from analysis of its Mkomolo deposit on the Rukwa Coalfield project in south western Tanzania. The company said he results would have a positive impact on its resource statement when it is updated in 2013.
Solo Oil said it was looking for a partner to participate in the next phase of exploration and appraisal at its Ruvuma product sharing agreement in Tanzania. The firm, which holds a 25% working interest in Ruvuma, said majority stakeholder Aminex had appointed investment bank FirstEnergy Capital to manage the farm-out of up to 50% of the two companies' respective working interests.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Young workers exiting UK over tax and economic outlook concerns, warn wealth managersYoung professionals are scoping out cities and countries with lower tax burdens and a greater quality of life, according to wealth managers
-
Savers tell Reeves: we'll snub stocks and shares ISAs even if cash limit is cutChancellor Rachel Reeves could find her rumoured plans to get Britain investing in UK Plc by cutting the cash ISA limit backfire as most savers have said they still wouldn’t switch to stocks and shares if she goes ahead with the move
