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FinnAust In Talks To Raise GBP5 Million For Pittufik Project (ALLISS)

Tue, 22nd Nov 2016 13:24

LONDON (Alliance News) - FinnAust Mining PLC on Tuesday said it is holding talks on a GBP5.0 million equity fundraising to back work on the Pittufik titanium project in Greenland.

FinnAust said it is holding talks on potentially raising the money via a placing of shares. The funds would be used to pay for feasibility studies, an environmental impact assessment, a social impact assessment, a resource assessment, and detailed engineering studies at Pituffik.

FinnAust said a further announcement will be made once its discussions with investors conclude.

Shares in the company were up 0.4% to 8.16 pence on Tuesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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FinnAust In Talks To Raise GBP5 Million For Pittufik Project (ALLISS)

UK MIDDAY BRIEFING: FCA To Review Pensions, Life Insurance Policies

FinnAust Pretax Loss Widens On Expenses And Impairment Costs

UK WINNERS & LOSERS: Strategic Natural Rebounds; Life Insurers Fall

FinnAust Shifts Drill Rig As Ice Lake Conditions Turn Favorable At Outokumpu Project

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