Territory Resource Wrap – March 9

by | Mar 9, 2022 | Business, News Brief | 0 comments

The NT Independent is providing you with an update of resource news from across the Northern Territory. This week, a Russian director steps down from board of company with NT operations, Mosman Oil and Gas shares rise modestly and Eastern Metals expand their NT operations, plus more.

Core Lithium completes acquisition of six highly prospective leases adjacent to Finniss Lithium Project

Core Lithium Ltd has completed the acquisition of six highly prospective mineral leases next to its Finniss Lithium Project, located 88km outside of Darwin.

“We are very pleased to have successfully completed the acquisition of these highly prospective mineral leases to add further significant value to the Finniss Lithium Project,” managing director of the project Stephen Biggins stated.

Core Lithium was given notification by the NT Department of Industry, Tourism and Trade in late February with a $5 million cash payment to venders to complete the transaction.

Russian director steps down from Falcon board amid Russian/Ukraine conflict

One of Falcon Oil & Gas’, Origin Energy’s partner in the Northern Territory’s gas Beetaloo Basin, board members has stepped down after strong links to Vladimir Putin were revealed.

Maxim Mayorets – a representative of Russian oligarch Viktor Vekelsberg which owns approximately 16 per cent of Falcon Oil & Gas through his holding company Lamesa, was the member who stepped down.

Origin said it was “appalled by the Russian aggression and invasion of Ukraine” and was concerned about Lamesa’s investment in Falcon.

“Origin has no direct contact with Lamesa Holdings or any shareholders of Falcon, nor do these investors have any influence over activities in the Beetaloo Basin,” Origin energy released in a statement last week.

Mosman Oil & Gas shares rise

Shares in Mosman Oil & Gas Ltd rose last week after it was able to obtain a permit for its EP-145 exploration project, off the Central Land Council, in the Amadeus Basin outside of Alice Springs.

The permit will allow Mosman to undertake an environmental survey, for four months starting in March.

“This survey and a CLC heritage clearance survey are the only on-site survey requirements prior to the seismic acquisition,” Chairman of Mosman Oil & Gas Ltd. John W Barr said.

“Interpretation of the resulting seismic will be important in assisting Mosman to refine further our technical understanding of the sub surface structures and identify future drilling locations in EP-145 which is prospective for oil and gas, hydrogen and helium,” he said.

Eastern Metals expands its Territory project

Eastern Metals has expanded its Arunta Project, 600kms west of Alice Springs, after acquiring the Neutral Junction Project from Bowgan Minerals.

The new exploration licences span across an additional 504 square kilometres.

The new area is known to have anomalous copper from earlier exploration, managing director and chief executive officer Wayne Rossiter said.

“Our Arunta Project has been significantly enhanced with this acquisition which dramatically increases the scope to discover additional copper and gold resources along trend from the Home of Bullion Mine, in addition to targets already identified on existing tenure,” Mr Rossiter also stated.

 

(Visited 269 times, 1 visits today)

Ads by Google

Ads by Google

Adsense

Adsense

Adsense

Adsense

Adsense

Adsense

Adsense

Adsense

Adsense

Adsense

Adsense

Adsense