30th Nov 2016 09:11
LONDON (Alliance News) - Anglesey Mining PLC on Wednesday said it has raised funds to be used to develop the Parys Mountain zinc, copper and lead mine in Wales.
Anglesey said the funds will back project development work on the mine, an updated scoping study on which is currently being put together.
The firm issued 12.0 million shares at 2.585 pence per share to raise GBP310,200 to fund work on Parys Mountain. Shares in Anglesey were up 35% to 4.40p on Wednesday.
"We are very pleased to announce this financing, which represents significant support for Anglesey Mining, and we look forward to completion of the updated scoping study and to expedite development of the Parys Mountain project," said Anglesey Chief Executive Bill Hooley.
By Sam Unsted; [email protected]; @SamUAtAlliance
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