19th Nov 2013 10:04
LONDON (Alliance News) - Alba Mineral Resources PLC Tuesday said its joint venture partner FOSSE Investments Limited has agreed to take shares in Alba in order for the company to further contribute to the joint venture account.
The uranium-focused exploration company, with operations in Mauritania, said it will satisfy GBP21,000 of the contribution it has agreed to make to the joint venture by the issue of 6 million shares to FOSSE at a price of 0.35 pence per share.
In August, the company announced that it wants to raise funds in order to advance its portfolio and it was in discussions over possible contracts and acquisitions in order to enhance shareholder value.
Alba Mineral Resources shares were down 20.0% to 0.300 pence, making it the top AIM loser in early trading Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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