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Tungsten West raises £6.95m via CLNs

Posted on Author editorial Comment(1)

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.

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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 £2m.

The aggregate fundraise is part of the company’s measures, which also include cutting costs, to meet contractual liabilities and pay for expenditure at Hemerdon.

The fundraise is subject to shareholder approval.

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One Reply to “Tungsten West raises £6.95m via CLNs”

  1. Pingback: Tungsten West starts open offer to add to £6.95m fundraise for Hemerdon costs - Extractive Industries

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