20th May 2015 07:14
LONDON (Alliance News) - Central Rand Gold Ltd saw its shares fall early Wednesday after the company raised GBP0.6 million in a discounted share placing.
Shares in Central Rand were down 17% to 11.5 pence after it said it has raised the funds by issuing 6 million shares via a placing and subscription at 10 pence a share.
The funds are to be used to back development of its surface mining operations in South Africa and to repay trade creditor balances related to the closure of its underground mining operations.
By Sam Unsted; [email protected]; @SamUAtAlliance
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