LONDON (Alliance News) - Kemin Resources PLC Wednesday said it has conditionally raised roughly GBP2.1 million in a share placing, funds it said it will use to continue to develop its tungsten and molybdenum assets in Kazakhstan.
The tungsten and copper exploration and development company said it placed a total of 22.8 million shares in the placing with institutional investors, at 9 pence per share.
Kemin Resources shares were up 4.7% at 8.90 pence Wednesday morning.
Besides using the proceeds to continue the development of its tungsten and molybdenum assets, Kemin also said it will use the funds for general working capital purposes.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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