Rambler Metals and Mining PLC - a copper and gold miner with sites in Newfoundland and Labrador, Canada - Raises GBP1.9 million via a share placing, with 9.3 million new shares placed at 20 pence each. Funds will be used to close Rambler's debt financing with Newgen Resource Lending Inc and continue funding mine development.
"This Placing was required to bridge the financial requirements of the company to the closing of the debt facility with NewGen which is expected by the end of August 2021," said Chief Executive ​​Toby Bradbury. "Delays to supplies for the operation as a downstream impact of Covid-19 and the ongoing competition for skilled resources make it prudent to supplement the Company's finances at this time."
Current stock price: 21.00 pence
Year-to-date change: down 41%
By Josie O'Brien; josieobrien@alliancenews.com
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