LONDON (Alliance News) - Asiamet Resources Ltd on Friday said it has raised GBP1.5 million through an oversubscribed private placement conducted by broker Optiva Securities Ltd.
Asiamet said it will issue 48.4 million shares at 3.10 pence per share to raise the funds. Asiamet shares were down 4.9% to 3.12p in London Friday.
Chief Executive Tony Manini said Asiamet is planning to push its Beruang Kanan Main copper deposit project in Indonesia through feasibility studies to progress the project, amid a concern its assets are "still substantially under-valued".
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Asiamet Res (ARS)