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Argos Resources raises USD550,000 to extend Falkland Islands licence
Wed, 7th Apr 2021 12:36
(Alliance News) - Argos Resources Ltd has raised USD550,000 as part of its bid to extend a licence in the Falkland Islands, it announced on Wednesday.
The money was raised through the subscription to 14.4 million new shares at a price equivalent to 2.75 pence each by new shareholders and Executive Chair Ian Thomson.
The drilling and production licence, PL001, covers an area of 1,126 square kilometres in the North Falkland Basin.
Argos Resources said it remained engaged in discussions with counterparties who had expressed an interest in participating in drilling in the area covered in the license.