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LONDON (Alliance News) - Alba Mineral Resources PLC on Tuesday said it raised GBP500,000 via placing of shares to accelerate exploration activities.
The firm issued 250 million shares at 0.2 pence each. Alba Mineral shares were trading 1.4% lower on Tuesday at 0.21p.
Alba said it will use the funds raised to carry out a maiden drilling programme at Amitsoq, the firm's graphite project in southern Greenland, and to accelerate its activities at the Clogau gold project in north Wales.
Admission of the new shares to trading on AIM is expected on June 18, following which the company will have 3.52 billion shares in issue.
