LONDON (Alliance News) - Rambler Metals & Mining PLC said Thursday that it will raise a further GBP1.7 million via a discounted share open offer.
The company, which owns the Ming copper-gold mine in Canada, will offer up to 121.6 million shares at 1.4 pence per share, a discount of around 14% to the closing price per share as of Monday, the last practicable date prior to the date of the circular.
Shares in the company were trading 1.5% lower at 1.60 pence each on Thursday afternoon. Rambler will offer one share for every existing ordinary share under its open offer.
Earlier in March, the company raised USD11 million from the issue of 599.8 million shares at USD0.018 per share. The funds were used to repay USD1 million unsecured loan, funding of unspecified matters approved by the board and for working capital purposes.