Almonty Industries announced today that it received a letter of commitment from an industry participant with respect to the funding of the equity component of the overall financing package needed to bring the Sangdong Mine into production. It will be provided by an industry participant by way of a loan financing. As a result, the mine would essentially be 100% debt financed without dilution of shareholders. In order to [...]
Cub Creek commences production Mannheim. Cub Creek Energy (CCE) has started producing oil and gas from its Vail Pad today. Nine horizontal wells were drilled in June and July and completed in September 2016. Cub Creek's working interest in these wells is close to 100%. The company will report the results of the first 30 days of production in mid-December 2016. In the meantime, two more wells were drilled on the companies [...]
Deutsche Rohstoff: Hammer Metals provides exploration update for the Mount Isa Region Deep drilling activity commenced on the "Kalman" tenement Mannheim/Perth. Today, Hammer Metals of which Deutsche Rohstoff owns 17.84% provided an update on its most recent exploration activities in the Mount Isa region and announced the commencement of diamond core drilling activities on its 100% owned "Kalman" ground. Since the "Kalman [...]
Deutsche Rohstoff: Management Board Changes Jan-Philipp Weitz to become CFO/Jörg Reichert resigns Mannheim. Jan-Philipp Weitz, currently Head of Business Development at Deutsche Rohstoff AG, will take on the role of Chief Financial Officer (CFO) beginning January 1st 2017. He will take on the finance department of the group from CEO Thomas Gutschlag, who currently serves as CEO as well as CFO of the group. Next to [...]
Deutsche Rohstoff: Hammer Metals releases results from Millennium and Scalper drilling campaigns New resource estimate for Kalman with higher grades Mannheim/Perth. Hammer Metals, 17.84 % owned by Deutsche Rohstoff, announced further results of its completed drilling campaigns on their "Millennium" and "Scalper" tenements. The company also announced a new resource estimate for its 100% owned "Kalman" deposit. Since the [...]
Cub Creek drills two additional wells Wells from Vail-pad will commence flow back soon Mannheim. Cub Creek Energy (CCE) has started drilling two additional horizontal wells from its Markham pad. Management of Cub Creek and Deutsche Rohstoff decided last week to drill the two wells after they had been permitted at the end of September. CCE has already drilled 10 wells from this pad between end of July and early October [...]
Hammer Metals, 17.84 % owned by Deutsche Rohstoff, announced the first results of the current exploration campaign at the Millennium area today. Over the past months a total of 25 holes were drilled. The geochemical analyses have now been completed for 18 holes. As an example, significant mineralization was observed over 4 meters at 0.51 % cobalt and 0.46 % copper intersected in drill core MIRC013 or 12 meters at 0.19 [...]
Hammer Metals announced today that it has finalized terms for a share placement for the issue of new shares to raise approximately AUD 2.25 million. The placement will consist of approximately 32.2 million shares at 7 cents per share. It will be made in two tranches, as the placement capacity limitations under ASX listing rules require Hammer Metals to obtain shareholder approval for a portion of the placement. A general [...]
Deutsche Rohstoff's US subsidiary Elster Oil & Gas (EOG) announced today that production from new horizontal wells has started. Six new wells were drilled over the last months from the so called "Wind" pad in EOG's project area in the North-Western part of the Wattenberg Oil field in Colorado. EOG's working interest in the wells amounts to roughly 50%. It is expected that all new wells will produce oil by September 2016 [...]
Deutsche Rohstoff AG: Almonty increases Sangdong Reserves by 78% and signs letter of commitment with KD Bank over CAD 67.9 million Heidelberg. Almonty Industries, of which Deutsche Rohstoff currently holds 12.58%, is pleased to announce a 78% reserve increase at its Sangdong project in South Korea. As a result of ongoing exploration activities over the last months the project now contains 7.9 million tonnes of ore [...]
Almonty Industries (DRAG share 13.26%) and the Australian company ATC Alloys Ltd. jointly announced today that Almonty has decided to place an offer to acquire all outstanding shares of ATC Alloys, deviating from a first agreement made in April. ATC is listed at the Australian Stock Exchange ("ASX"). The management of ATC Alloys supports the transaction and has already agreed to sell its shares. The shareholders of ATC [...]
Deutsche Rohstoff: Creditreform confirms BB+ rating Heidelberg. Creditreform Rating AG has confirmed the BB+ company rating of Deutsche Rohstoff as part of the yearly rating update. The outlook is stable. The rating of Deutsche Rohstoff has not changed since the first rating in 2013. Creditreform highlights the very stable financial situation and the solid equity ratio of Deutsche Rohstoff. In addition, the current [...]
