Alba Mineral Resources plc has raised £75,000 before expenses by placing 600 million new ordinary shares each at 0.0125 pence to an institutional investor.
Following admission, the company’s ordinary shares in issue will total 11,541,721,949, with none held in treasury.
Alba’s assets include the Dolgellau gold belt, including the historic gold mines of Clogau-St David’s and Gwynfynydd in North Wales.
The company also currently owns 28.14% of its spin-out GreenRoc Strategic Materials plc exploring for graphite and ilmenite in Greenland.
Alba is also earning into the Finnsbo rare earth project in eastern Sweden and has options over the Norrby and Glava projects in Sweden and gold licences in northern Tanzania.
The company additionally holds 11.765% in the Horse Hill oil project in Surrey.