Finance Metals & Minerals News

Anglesey raises £864,416 via placing-subscription

Anglesey Mining plc said it had raised a total of £864,416 gross proceeds from a placing and subscription.

DEBT RESTRUCTURING

A placing of 22,829,705 ordinary shares with institutional and other investors at a price of 3.4 pence per share raised £776,210.

Chairman John Kearney and chief executive officer Jo Battershill subscribed for an additional 2,594,284 new ordinary shares at the same price, raising a further £88,206.

NameAmount
subscribed in
Subscriptions

Holding of
Existing
Ordinary
Shares
No. of Ordinary Shares
held post Admission
of the Placing Shares
% of Ordinary
Share Capital held
post Admission of
the Placing Shares
John Kearney 1,297,1421,297,1420.5
Jo Battershill1,297,1422,087,6883,384,8301.2
Each of John Kearney and Jo Battershill participated on the same terms as all other placees (Anglesey Mining)

A total of 25,423,989 new ordinary shares will be issued and a further 6,681,000 new ordinary shares issued to the company’s largest shareholder Juno Ltd in accordance with the Juno debt restructuring.

USES

Anglesey Mining will use the proceeds to advance its copper-zinc-lead-silver-gold project at Parys Mountain.

This includes infill drilling of the Northern copper zone, confirmatory metallurgical testwork, tailings storage design work, environmental and permitting activities, and general working capital.