LONDON (Alliance News) - Natural resources investment firm Kennedy Ventures PLC on Wednesday said it has raised GBP1.3 million in a placing to back work on the Tantalite Valley tantalum mine in Namibia.
Kennedy said the net proceeds will be used by African Tantalum Pty Ltd, in which Kennedy owns a 75% stake, to implement plant enhancements at Tantalite Valley to improve utilisation rates and production levels.
Kennedy issued 13.9 million shares at 9.00 pence each to raise the money. Shares in the firm were up 13% to 10.73p on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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