BERLIN: Tesla plans to build a 25,000-euro ($26,838) car at its factory near Berlin, in a long-awaited development for the electric vehicle maker which is aiming for mass uptake of its cars, Reuters reported on Monday. Expanding into the mass market is critical to meeting Tesla’s aim of increasing vehicle deliveries to 20 million by…
Panoro Energy announces significant oil discovery offshore Gabon
OSLO, NORWAY: Panoro Energy ASA announced that the Hibiscus South well (DHBSM-1) has made a commercial oil discovery on the Dussafu Marin Permit offshore Gabon (Panoro Energy 17.5 percent working interest). Hibiscus South is located approximately five kilometres south-west of the BW Mabomo production platform from where the well was drilled to a total depth…
Power Metal sells Kavango shares for £556,000
LONDON, UK: Power Metal Resources PLC (AIM:POW), a metals exploration and development company, has sold its entire stake of 69.5 million shares in Kavango Resources plc (Kavango) for 0.8p per share, raising £556,000 in cash. Power Metal still holds 60 million warrants to buy new Kavango shares at a price of 4.25p or 5.5p, expiring…
GKN Aerospace and GE Aerospace sign new agreement to expand partnership
LONDON, UK: GKN Aerospace, a division of Melrose Industries PLC, has announced a new agreement with GE Aerospace, the global leader in aerospace engines, that will increase its participation in the GEnx programme and other GE engine platforms. The new agreement covers four areas: an expanded risk and revenue sharing partnership (RRSP) on the GEnx…
SDI Group acquires Peak Sensors Holdings for £2.4 million
LONDON, UK: SDI Group plc announced the acquisition of Peak Sensors Holdings Limited, a UK manufacturer of temperature sensors. Total consideration is forecast to be approximately £2.4 million. Peak Sensors is a leading UK manufacturer of temperature sensors, specialising in standard and bespoke thermocouples and resistance thermometers which are used in various industries, including glass,…
Pineapple Power Corporation to acquire Ilios Hydrogen Canada Limited
LONDON, UK: Pineapple Power Corporation has entered into a non-binding heads of terms to acquire 100% shares in Ilios Hydrogen Canada Limited, based in Vancouver, B.C., subject to legal, financial and other due diligence and entry into a legally binding sale and purchase agreement. Illios Hydrogen is a privately held, Canadian based, international developer of…
Nexa3D to acquire Essentium, expanding its 3D printing portfolio
CALIFORNIA: Nexa3D, a leader in ultrafast 3D printing, has announced its intention to buy Essentium, a maker of high-speed extrusion 3D printers and materials for aerospace, military, and defense applications. The deal, which is subject to certain conditions, would add high-speed extrusion (HSE) technology to Nexa3D’s product range. Nexa3D and Essentium aim to create a…
Vision Blue to invest US$40 million in Mayur’s Central Lime Project
SYDNEY, AUSTRALIA: Vision Blue Resources, a company led by former Xstrata CEO Sir Mick Davis, has signed an Investment Agreement with Mayur Resources Limited (ASX:MRL) to acquire a 49% stake in its Central Lime Project (CLP) in Papua New Guinea for US$40 million. The deal, which was announced in August 2023, is subject to certain…
Raiden Resources acquires 100% of lithium rights over Arrow Project
SYDNEY, AUSTRALIA: Raiden Resources Limited (ASX: RDN), a mineral exploration company, has announced that it has exercised its option to purchase 100% of the lithium, caesium and tantalum (LCT) rights over the Arrow Project from Arrow Minerals Limited (ASX: AMD), a gold and base metals explorer. The Arrow Project is located in the Gascoyne region…
Acrow to buy MI Scaffold for $36.4m and expand its industrial services
SYDNEY, AUSTRALIA: Acrow Limited (ASX: ACR), a leading provider of formwork and scaffolding solutions, has announced that it has signed a binding agreement to acquire MI Scaffold Pty Ltd, a leading provider of industrial scaffolding, access and rigging services in North and Central Queensland. The deal is valued at $36.4m on a cash-free, debt-free and…
Alliance Nickel sells gold subsidiary to focus on battery metals
SYDNEY, AUSTRALIA: Alliance Nickel Limited (ASX: AXN), an emerging battery metals producer, has announced that it has sold its gold exploration subsidiary, Golden Cliffs NL, to a subsidiary of Zeta Resources Limited (ASX:ZER), a major shareholder of Alliance. The sale price was $400,000 in cash. The move is part of Alliance’s strategy to focus on…
Develop Global completes acquisition of Essential Metals
SYDNEY, AUSTRALIA: Develop Global Limited (Develop), a diversified mining company, has successfully completed its takeover of Essential Metals Limited (Essential), a gold and base metals explorer, through a scheme of arrangement (the Scheme) that was implemented today. Under the terms of the Scheme, Develop acquired all of the issued shares in Essential and issued 1…