W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in
Spain and
Portugal, has completed a placement of 28,278,610 ordinary shares of 0.1p per share ( Ordinary Shares ) at 8p per Ordinary Share to raise
£2.26 million (the Placing ) before expenses to new and existing investors.
Michael Masterman, W s Chairman, intends to participate and invest
£250,000 on the same terms as the Placing, once the Company has published its accounts for the year ended
31 December 2020 and the Company is no longer in a closed period; this will increase the fundraising to c£2.5 million. The Company will publish its accounts in the coming weeks.
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
2. Proxy appointments which gave discretion to the Chairman of the AGM have been included in the For total for the appropriate resolution. 3. Votes For and Against any resolution are expressed as a percentage of votes validly cast for that resolution. 4. A Vote withheld is not a vote in law and is not counted in the calculation of the percentage of shares voted For or Against any resolution. 5. The number of shares in issue at 6:00 p.m. on 10 May 2021 was 427,599,808 ordinary shares, carrying one vote each, and at that time, the Company did not hold any shares in treasury. 6. The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company s website at
(SBC) finances and support services, requiring the local authority to take ‘urgent action’. External auditors Grant Thornton UK LLP released two heavily critical reports on Monday, May 10, of the council and laid out four recommendations after finding:
insufficient capacity and skills within the finance department,
inadequate preparation of financial statements,
inadequate general and earmarked revenue reserves,
inadequate governance, monitoring and controls over our outside groups and companies The 2018/19 accounts have been delayed multiple times and due to be discussed at an extraordinary audit and governance meeting on Tuesday, May 18. One of the ‘urgent actions’ the council must take is to ‘develop a clear, sustainable financial plan to significantly replenish its levels of useable reserves’ after the auditors found the council drained their reserves to £4.3 million in 2018/19.
Bibemi Gold Project Update
Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on
West Africa, provides an update on the recently completed maiden diamond drilling programme at its 51%-owned Bibemi gold project ( Bibemi ) in
Cameroon. Following the report of multiple holes showing evidence of visible gold mineralisation (announcement date
12 April 2021), the team completed the drilling programme on 25 April for a total 3,118 metres in 29 holes.
Since reporting results from the first hole, which confirmed orogenic-style gold mineralisation to a depth of more than 90 metres below surface (announcement dated
31 March 2021), the Company has been made aware of delays at the assaying laboratory in