31st Oct 2018 09:40
LONDON (Alliance News) - Cradle Arc PLC said Wednesday it raised GBP396,000 in a discounted share placing to go towards work at a mine in Botswana.
Shares in the Africa-focus base and precious metals company were down 12%, trading at 1.05 pence each on Wednesday.
The company issued 44.0 million shares at 0.90p each to new and existing shareholders.
Cradle Arc will use the proceeds to complete the rehabilitation and improvement of the processing facilities at the Mowana copper mine in Botswana, and address the "intermittent breakdowns and interruptions" that led to the company failing to meet its third quarter production target.
Related Shares:
CRA.L