GCM Resources PLC - London-based mining and energy company - Raises gross proceeds of GBP500,000 via a direct subscription for shares at 1.65 pence each. The subscription price represents a discount of 38% to the closing price of 2.65p on Thursday. The net proceeds of the fundraise will be used to provide GCM with a source of general working capital to progress its existing projects. Adds that it will need to carry out an additional fundraise before the end of May 2024 to fund its working capital for the next 12 months.
Current stock price: 2.80 pence
12-month change: down 99%
By Holly Beveridge, Alliance News reporter
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GCM Resources (GCM)