18th Feb 2025 10:31
Adriatic Metals PLC - operates Rupice silver mine and Vares processing plant in Bosnia and Herzegovina - Raises AUD80.0 million, about USD50 million, in a share placing with institutional investors. The two-tranche placing of 20.5 million Chess depositary interests at AUD3.90 per share, about 197 pence, was first announced after the London market close on Monday. The first tranche worth AUD43.3 million will take place immediately, while an additional AUD36.7 million in new shares require approval at a general meeting to be called for March. These are expected to start trading on March 20. The fresh cash will be used to expand the Vares processing plant and to develop the Rupice mine toward nameplate production in the second half of 2025. Read More
