(Alliance News) - Alien Metals Ltd on Friday announced it has raised GBP350,000 through a share issue to fund further exploration work in Mexico.
Alien Metals has placed 233.3 million new shares at 0.15 pence each, through new joint broker SVS Securities PLC. First Equity Ltd is the firm's other broker.
Alien Metals shares were down 7.1% on Friday afternoon at a price of 0.13p apiece.
Chief Executive Peter Taylor said: "This modest round of strategic funding comes at a premium, underwrites ongoing exploration of the asset portfolio and opens new opportunities to consider complementary projects.
"I am pleased to welcome and secure the brokerage and research capabilities of SVS alongside those of First Equity."
On Thursday, the company announced a gold discovery at the Donovan 2 asset in Mexico. Funds raised will go towards work at Donovan 2, as well as the Los Campos and San Celso projects.
Alien Metals (UFO)