Anglesey Mining PLC - London-based mining company with operations in north Wales, Sweden & Canada - Raises GBP864,416 through a placing of 22.8 million shares at a price of 3.4 pence per share, and an additional GBP88,206 via subscription of 2.6 million shares by certain directors at the issue price.
Proceeds from the placing will go towards advancing the Parys Mountain project through additional technical studies to an investment decision, partly repay its debt to shareholder Juno and for general working capital purposes.
WH Ireland and Canccord Genuity will act as bookrunners, with the former being appoints as joint broker.
"The completion of the placement and renegotiation of the Juno working capital facility is an important milestone for of Anglesey Mining. We are very pleased to welcome new investors onto the register and see the strong demand as recognition of the potential quality of the asset base. The placing will provide funds to generate strong news flow and potentially substantial value creation for Anglesey's shareholders," says Chief Executive Officer Jo Battershill.
Anglesey Mining will have 280.2 million shares issued overall following admission.
Current stock price: 3.79 pence, up 8.0% on Monday
12-month change: down 4.1%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Anglesey Mining (AYM)