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Chesterfield Resources PLC - copper and gold explorer in Cyprus and in Labrador, Canada - Raises GBP700,000 from sale of 10.0 million new shares at 7 pence. One warrant for an additional share at 12p comes with each two placing shares. Cash will be used for exploration, working capital, and for the cost of seeking a secondary listing on the TSX-V exchange in Toronto. "The company has a busy six months ahead," says Executive Chair Martin French. Director Peter Damouni steps down from the board immediately to take up an executive role elsewhere, but invests GBP100,000 in the Chesterfield funding round and will remain an advisor.
Current stock price: 6.90p, down 4.9% on Wednesday
12-month change: down 46%
By Tom Waite; thomaslwaite@alliancenews.com
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