RE: bankrupt12 Sep 2020 16:05
Why have we got this RNS? Thoughts?
Renewal of share authorities
The Company is seeking shareholder approval to renew its share authorities to allow directors to issue up to GBP250,000 of nominal value as ordinary shares in the Company for cash, on a non-pre-emptive basis. The Company is seeking to do this as it believes it is prudent to have sufficient capacity to raise funds at short notice if the opportunity arises. The Company has recently raised sufficient funds for its current exploration programme and the new authority is being sought to provide flexibility for management to rapidly accelerate exploration activity and/or new project acquisition opportunities should this be required in the future.