LONDON (Alliance News) - FinnAust Mining PLC on Tuesday said it is holding talks on a GBP5.0 million equity fundraising to back work on the Pittufik titanium project in Greenland.
FinnAust said it is holding talks on potentially raising the money via a placing of shares. The funds would be used to pay for feasibility studies, an environmental impact assessment, a social impact assessment, a resource assessment, and detailed engineering studies at Pituffik.
FinnAust said a further announcement will be made once its discussions with investors conclude.
Shares in the company were up 0.4% to 8.16 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
