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LONDON (Alliance News) - Anglesey Mining PLC said Monday that it will raise GBP200,000 in gross proceeds via a discounted share placing for developing the Parys Mountain zinc-copper-lead deposit in North Wales, UK, and for general working capital purposes.
The miner has entered into a placing agreement to issue 9.4 million new ordinary shares at 2.135 pence per share, a discount of 9.1% to the closing middle market price of 2.35 pence per ordinary share at the close of business on Friday. Net proceeds from the placing will amount to GBP180,000.
Shares in Anglesey were trading 1.7% higher at 2.39 pence each at around midday Monday.
"We are very pleased to announce this financing, which represents significant support for Anglesey Mining, and we look forward to completion of the optimisation study and to expedite development of the Parys Mountain project," said Chief Executive Bill Hooley.
