Alba Mineral Resources plc has raised £750,000 before expenses via a placing of 600 million new ordinary shares at a price of 0.125 pence per ordinary share.
Existing shareholders and other investors who did not have the opportunity to participate in the placing, have a broker option allowing subscriptions up to £100,000 in total on the same terms.
On admission, the total number of ordinary shares in issue will be 7,721,568,996. The company holds no shares in treasury.
USES
Proceeds will advance activities at Clogau-St David’s gold mine including the lower Llechfraith workings and the waste tip, as well as geophysical surveys within the Dolgellau gold field.
Funds will also go towards due diligence on potential acquisitions and investments and for general working capital.
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