Alba Mineral Resources plc has raised gross £800,000 by placing four billion new ordinary shares, at a 20% discounted price of 0.02 pence per ordinary share.
TVRs
Net proceeds will go towards drilling, blasting and processing at Clogau-St David’s gold mine in North Wales, and upgrading the processing plant.
Funds will also advance the Motzfeldt multi-metals project in southern Greenland, the Finnsbo gold-copper-rare earth elements project in Sweden and be used for general working capital.
Following admission, of both the placing shares and the Alba consideration shares, the total number of ordinary shares in issue will be 23,835,050,231, with equal voting rights.
The company does not hold any ordinary shares in treasury.