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LONDON (Alliance News) - Kodal Minerals PLC on Tuesday said it has issued shares to cover part of the payment due under its drilling contract for the Grimeli copper and zinc project in western Norway.
Kodal has issued 26.6 million shares at 0.158 pence per share, which would be worth GBP42,028, to the unnamed drilling contractor on the project in part-payment for services provided. Shares in Kodal were up 5.0% to 0.147 pence on Tuesday.
Kodal said the issue covers the second payment due under the drilling contract and said it will make a further and final payment in due course.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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