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LONDON (Alliance News) - Asiamet Resources Ltd on Wednesday said it has raised GBP1.5 million through a private placement.
The company issued 48.4 million shares at 3.1 pence per share and additionally issued 2.1 million warrants to its broker. Shares in Asiamet were down 1.2% to 2.96 pence Wednesday.
Asiamet, first announcing the placing last week, said the funds will be used to push its Beruang Kanan Main copper deposit project in Indonesia through feasibility studies to progress the project, amid a concern its assets are "still substantially under-valued".
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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