Nighthawk remains jolly 09/02/2012
US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Pennsylvania-focused Atlantic Coal has raised £400,000 at 0.7p for working capital and to help with a takeover.
The London-based company, which lost £1.6 million in the first half of last year, recently signed a non-binding memorandum of understanding to buy Maple Carpenter Creek, a Montana deposit with an estimated 380 million tonnes of coal, for shares. Steve Best, managing director of AIM-quoted Atlantic, says the placing proceeds will ‘allow us to continue our work with Maple Carpenter Creek’.
He adds the money will also provide extra working capital following the company’s termination of an earlier supply agreement for its Stockton colliery with another company, Pagnotti, a move which Atlantic has claimed will save it $10 million (£6.2 million) over the life of the mine. Floated in 2007 at 2p, Atlantic’s shares fell at one point as low a 0.33p and now trade at 0.53p, down 0.18p this morning, valuing the company at £7.3 million.
Subscribe today and save 50%. Receive company watch recommendations and extensive company profile tips, released two months ahead of the market.
Advertisement
£100 credit when you open five trades within 60 days – terms apply. Spread Trading is not for everyone please ensure you understand the risks as you may lose more than your initial deposit. Click here for more information.
This unique study analyses the shareholdings of companies listed on AIM, extracting trends including rankings of the value and number of their investments.
Please click here to order your copy of the report or call 0207 250 7056.
Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.
If you're interested in business tax updates visit our specialist tax guide website.
Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.
Advertisement
US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Africa-focused Tower Resources (TRP) has raised £5.4 million via a placing with a mixture of institutional investors and directors.
Beleaguered travel operator Thomas Cook (TCG) has reported a loss of £91 million its first quarter also announcing the sale of its Indian division.
AIM-quoted Chariot Oil and Gas (CHAR) has completed a 3D seismic survey across its central blocks.
Aminex (AEX) and Solo Oil (SOLO) both reported the Ntorya-1 well had 'not encountered' sandstone intervals after drilling 2500 metres.
Brady (BRY), the supplier of software to the commodities sector, is to raise £18 million to fund two acquisitions.