LONDON (Alliance News) - Sovereign Mines of Africa PLC on Wednesday said it has made two new board appointments and raised GBP500,000 through a share subscription agreement.
The gold miner, which owns properties in the Republic of Guinea, has appointed Giles Clarke as its chairman and Rupert Fraser as non-executive director. Clarke is the chairman of Amerisur Resources PLC, the London-listed oil and gas firm, mining exploration and development company Ironveld PLC and natural resources investing company Kennedy Ventures PLC.
Fraser is a non-executive director at Ironveld.
In addition, the pair have participated in a GBP500,000 fundraising by Sovereign Mines, through which it has issued 500.0 million shares at 0.10 pence per share.
Clarke bought GBP100,000 worth of shares, while Fraser bought GBP125,000.
Shares in the company were up 63% to 0.220p on Wednesday morning, the best performer in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Ironveld (IRON)