Gunsynd PLC - London-based investment company focused on the natural resources, life sciences and alcohol sector - Invests GBP75,000 in the initial public offering of tin development and exploration company, First Tin PLC. The investment was via the subscription of 250,000 shares at 30 pence per share. This adds to the company's previous GBP15,000 investment in First Tin on March 24. Funds will be used for resource expansion drilling, feasibility/mine development studies and land acquisition cost, Gunsynd explains.
First Tin will own two tin projects in Germany and Australia on admission. Gunsynd adds that the tin developer is looking to rapidly move these projects into production.
Current stock price: 0.84 pence, up 4.7% in London
12-month change: down 54%
By Heather Rydings; heatherrydings@alliancenews.com
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Gunsynd (GUN)