Chesterfield Resources plc noted its potential purchaser of the Adeline copper project has earmarked C$2m (£1.18m) for summer exploration on the asset in Labrador, eastern Canada. ACTIVITIES Sterling Metals aims for a 2,500 metre drill campaign in addition to the C$500,000 (£296,000) airborne survey planned over the licence area. The finance will come from the […]
Tag: fundraise
Golden Metal raises £1.98m and begins trading on AIM
Golden Metal Resources plc raised £1.98 million via a placing and subscription for the start of its trading today on the alternative investment market (AIM). TERMS The fundraise, through issuing 23,317,643 new ordinary shares of £0.01 each, is part of the admission process. Placing shares totalled 12,449,208 new ordinary shares and subscription shares totalled 10,868,435. Every two […]
Tungsten West raises £6.95m via CLNs
Tungsten West plc has raised £6.95 million from placing convertible loan notes (CLNs) as part of its fundraise of up to £9m for Hemerdon tin-tungsten mine in Devon. LIABILITIES The company said that the conditional placing with investors was oversubscribed. Tungsten West still has to hold an open offer to raise up to a further […]
Tungsten West to raise up to £9m as cost cutting starts
Tungsten West plc has started “major” cost cutting alongside up to a £9 million fundraise to meet “contractual liabilities” and pay for “significant annual expenditure” at its Hemerdon tin-tungsten mine in Devon. NEW DEBT The company aims to raise a minimum of £5m and up to £6.95m through a placing, not underwritten, of convertible loan […]
Galantas increases target fundraise to C$2.75m
Galantas Gold Corporation said that additional interest had prompted it to increase the previously announced non-brokered private placement and target fundraise from C$2 million to $2.75m. USES In March, the Canadian company announced an offering of up to 5,555,555 units of the company, each at C$0.36, which is now raised to 7,638,888 units. Net proceeds […]
Cora Gold closes fundraise at $19.8m
Cora Gold Ltd has now closed its fundraise for gross proceeds of $19.803 million for its Sanankoro gold project in southern Mali. Since receiving $15,855,000 in February, the company has raised $3,928,169.26, before expenses, through the proposed issue of 80,660,559 new ordinary shares to certain existing shareholders and new investors. On admission, Cora’s share capital […]