Proceeds slated for drilling and exploration at Pallas Green project
By Devika Patel
Knoxville, Tenn., Sept. 1 - Minco plc said it raised £1.04 million in a private placement of shares.
The company sold 32,015,382 ordinary shares at 3.25p each. The per-share price represents a 3.85% discount to the Aug. 31 closing share price of 3.38p.
Proceeds will be used, in part, for ongoing exploration and drilling activities at the Pallas Green zinc-lead exploration project, where a major drilling program is in progress.
Minco is a precious and base metals exploration and development company based in Dublin.
| Issuer: | Minco plc
|
| Issue: | Ordinary shares
|
| Amount: | £1,040,500
|
| Shares: | 32,015,382
|
| Price: | 3.25p
|
| Warrants: | No
|
| Settlement date: | Sept. 1
|
| Stock symbol: | London: MIO
|
| Stock price: | 3.45p at close Sept. 1
|
| Market capitalization: | £9.56 million
|
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