Tungsten Company News Directory

Colt Resources Announces Shares for Debt Agreement

Colt Resources Inc. (TSXV:GTP) announced that in connection with its previously announced offer for the conversion in shares of its senior secured dept in the aggregate principal amount of US$2.7 million, it has entered into agreements with all of its remaining note holders.

Almonty Announces its Decision not to Proceed with an Offer for Ormonde Mining

Almonty Industries Inc. (TSXV:AII) announced that it has decided not to proceed with an offer for Ormonde Mining (LSE:ORM), following the confirmation earlier today that Ormonde had gained shareholders approval to receive financing from Oaktree Capital. Accordingly, Almonty is restricted under Rule 2.8 of the Irish Takeover Rules.

Blackheath Resources Hires Mineralia for Borralha Preliminary Environmental Services and Internal Scoping Studies

Blackheath Resources Inc. (TSX:BHR) reported that it has enganged Mineralia Minas, Geotecnia e Construcoes, Lda., a geological and engineering firm that has commissioned over 11 quarries and mines in Portugal, to provide environmental services and internal scoping studies for the Santa Helena Breccia, located within the Borralha Tungsten Mine in northern Portugal.

Blackheath Resources Commissions Mineralia Minas for Environmental Services, Internal Scoping Studies at Borralha

Blackheath Resources Inc. (TSX:BHR) has commissioned Portuguese geological and engineering firm Mineralia Minas, Geotecnia e Construcoes, Lda., to provide environmental services and internal scoping studies for the Santa Helena Breccia within the historic Borralha Tungsten Mine in Portugal. Mineralia will be providing environmental and water table impact studies, initial scoping studies, and drill targeting for the next round of drilling.

Colt Resources Enters Agreement with Senior Secured Note Holder for Debt

Colt Resources Inc. (TSXV:GTP,FWB:P01,OTC:COLTF) reported its offer to convert shares of its senior secured debt of US$2,700,000 to all of its existing senior secured note holders. In connection with this, Colt entered an agreement with Mr. Richard Quesnel, one of the note holders, to issue 14,233,857 units at a deemed price of CA$0.175 per Unit in payment of a US$2,000,000 senior secured note and all accrued interest.

Colt Resources Increases Investment in Colt Resources Middle East

Colt Resources (TSXV:GTP) reported that in April 2015, the Company increased its investment to 15.76% on its associate, Colt Resources Middle East (CRME). Colt Resources subscribed to 2,000,000 shares of CRME at a price of $0.20 per share. CRME is a private company that acquires near-term production assets in the Middle East.