Alba Mineral Resources plc has raised £380,000 before expenses through the issue of 584,615,385 new ordinary shares at a price of 0.065 pence per ordinary share.
Following admission, the company’s total number of ordinary shares in issue will be 8,318,304,381. Alba holds no ordinary shares in treasury.
Proceeds will be used at the company’s 100% owned Clogau-St David’s gold mine, the waste tip and the wider Dolgellau gold field in Wales.
Funds will also go towards marketing, offtake discussions, development work to establish a fully traceable mine-to-market supply chain, due diligence and option fees or deposits for potential acquisitions and investments, and for general working capital.