The company has paid the final instalments totalling A$5.1 million for the plant site.
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The transformational transaction strengthens the balance sheet and funds a multi-year exploration program, setting Buru up for future success through internal funding.
The Alaska-focussed explorer is preparing to restart the Icewine-2 well testing programme which aims to be a commercial test of the HRZ shale discovery
The well is expected to access gas and condensate in the Caley Member at a depth of about 5,300 metres.
FAR’s share price has been increasing along with the oil price and is trading near 12-month highs.
The oil price has more than doubled since early 2016 to over US$70 per barrel.
Existing shareholders are also being given the chance to participate in a share purchase offer to raise up to $4 million.
The proposed HPA plant in Malaysia will be fed by the company's kaolin mine.
Investors are crossing days off the calendar as the second half of the Icewine-2 well programme looms following the arctic winter in Alaska
The company’s Kvanefjeld Project is envisaged to be a globally significant producer of rare earth materials
Cash on hand should gain momentum as production increases towards the target rate of 3,000 bopd.
The signing of a Maritime Boundary Treaty with Timor-Leste has enabled the company to progress its development strategy.
The company has an ambitious work programme mapped out for its acreage on Alaska's North Slope
The primary objective of the well is to assess the gas and liquids potential in the Caley Member.
Analysts at Hartleys view Carnarvon as one of the best stocks to target to gain leverage to the oil price recovery.
The company is developing its flagship 100% owned Kvanefjeld Project in Greenland.
Toro’s flagship asset is the 100% owned Wiluna Uranium Project, consisting of six calcrete-hosted uranium deposits.
Drilling has started at the Phoenix South-3 well with drilling to start next month at Dorado-1 well.
The objective is to fully evaluate the gas and condensate discovered earlier
The on-site storage tanks are full with an inventory of some 5,000 barrels of oil.
Further positive results from ongoing optimisation have Kvanefjeld on track to be one of the simplest, lowest-cost rare earth producers globally.
Carnarvon had a cash balance of A$48.1 million at the end of the March quarter, leaving it well-placed to fund an active period of exploration.
Finalisation of the purchase is another important milestone in progressing the HPA project.
A comprehensive feasibility study was completed in 2015 and updated following pilot plant operations in 2016.
The semi-submersible drilling rig will now be anchored in place and ballasted.