Two directors at the heart of a boardroom tussle for control of Global Lithium, including chair Ron Mitchell, will resign at this afternoon's annual general meeting.
Global Lithium’s commitment towards curbing costs and operational spending has continued, with chief financial officer Matthew Allen to be made redundant from the role next month.
Our weekly appointments wrap includes Jorja Brady, James Komninos, Chris Jas, Ed Armstrong, Katie Tovich, Sandy Sibenaler, Matthew Allen, Christian Owen and Kirsty Sutherland.
Surveying firm Veris has made a number of changes to its board, including Adam Lamond stepping out as managing director, as it deals with the impacts of the coronavirus pandemic.
Oil and gas explorer Otto Energy is looking to raise up to $17.5 million, despite current market conditions, to fund the development of its well in the Gulf of Mexico.
North America-focused Otto Energy is seeking to raise $11 million via a share placement and $20 million through a one-for-five rights issue, both at an issue price of 5.3 cents per share.
Otto Energy is seeking to participate in exploring for oil and gas in Alaska through a $US4 million ($A5.4 million) investment in Austrian company Borealis Petroleum.
Otto Energy says the sale of its Galoc oil field assets in the Philippines to Singapore-based energy company Risco Energy Investments for $113.4 million will help fund exploration activities for two years and return capital to shareholders.
Is $1,500 per day plus all reasonable expenses a good rate of pay for the top executive at a junior mining company in the midst of a cost-cutting drive? Read Business News' latest quarterly salary survey to learn more.
