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Zanaga Iron Ore Co Ltd - iron ore miner in Republic of Congo - Enters into a share subscription agreement with institutional investor Shard Merchant Capital Ltd. Zanaga will issue up to 21 million ordinary shares in up to three tranches of up to seven million shares each. SMC will attempt to place the new shares with investors and pay Zanaga 95% of the gross proceeds. Zanaga will use the money for general working capital, including the provision of further contributions to the Zanaga iron ore project's operations.
Current stock price: 6.17 pence
Year-to-date change: down 27%
By Tapan Panchal; tapanpanchal@alliancenews.com
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