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Ascent Resources PLC - onshore energy firm focused in Caribbean and Europe - Includes Environmental, Social & Governance principles, which involves the reclassification of stockpiled surface mining waste as a valuable asset for reprocessing and commercial sale to industry, governments and metals traders.
Ascent is looking at several potential projects in Hispanic America, South Africa and Australia, with opportunities in gold, silver, platinum, base metals and ferrochrome.
To assist with pursuing this new strategy, the company has raised GBP1 million through an oversubscribed subscription and placing of 10.0 million shares at a price of 10.1 pence each.
Ascent Resources now has 109.4 million shares issued overall.
"This is an important development for Ascent, as we look to broaden our business and identify rapid growth opportunities that add stability and balance to our portfolio. We believe that our skill sets can be very successfully deployed in the opportunity presented by the secondary mining of waste metals, where material volumes with significant economic upside can be reprocessed and sold all within an attractive ESG framework," said Chief Executive Officer Andrew Dennan.
Current stock price: 12.33 pence, up 6.1% on Thursday
Year-to-date change: up 97%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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