Shanta Gold Ltd - gold mining company - Proposes to raise GBP31 million through placing, subscription and retail offer at a price of 16.5 pence per share, reflecting a 6.8% discount to Thursday's closing price at 17.70p.
Proceeds will go towards infill drilling, expansion drilling, technical studies and working capital over the next 36 months at the West Kenya project, and for general corporate purposes.
Liberum Capital Ltd, Tamesis Partners LLP and Cormark Securities Inc are acting as joint bookrunners.
Current stock price: 17.70 pence
Year-to-date change: up 85%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Shanta Gold (SHG)