Strategic Minerals plc has raised gross £4.7 million, through direct subscriptions for 134,285,712 new ordinary shares of 0.1 pence each, at 3.5p per new ordinary share.
TVRs
The company, which owns Cornwall Resources Ltd, said that the subscription was led by a “prominent international investor” who had made the approach.
The issue price is a discount of 16.7% to the closing mid-market price of Strategic’s shares on 18 March 2026.
Following admission, the company’s issued share capital will comprise 2,818,775,969, with voting rights.
Net proceeds will “significantly” accelerate the Redmoor tungsten-tin-copper project, operated by Cornwall Resources, in the southeast of the county.