Anglesey Mining plc has raised £415,000 via a placing of 32.5 million ordinary shares with certain institutional and other investors and a subscription of 9m ordinary shares, all at 1 pence per share.
Net proceeds will go towards developmental work at Parys Mountain, advancing development options at Grängesberg iron ore mine, debt repayment and general working capital.
Subscribers include chief executive Rob Marsden for 1m ordinary shares, taking his total to 1,251,103 shares, representing 0.27% of the enlarged share capital.
Interim chairman Andrew King subscribed for 2m shares (2m; 0.43%).
Substantial subscriber Energold Minerals Inc subscribed for 6m ordinary shares, increasing its holding to 95,108,204 equal to 20.6%.
Following admission of a total 41.5m ordinary shares, the company’s ordinary shares in issue will number 461,593,017 with voting rights.