21st Nov 2023 12:22
URA Holdings PLC - Africa-focused mineral exploration - Raises GBP1.0 million from the sale of 80.0 million new shares at 1.25 pence each. The cplacing and subscription is conducted as an accelerated bookbuild by Capital Plus and Peterhouse Capital. Chair Edward Nealon and three other directors buy a total of 11.1 million of the shares. URA had raised GBP240,000 in equity at the start of September. Like those funds, the fresh cash will be used to restart mining and processing operations at the Gravellotte emerald mine in South Africa. First emerald production is expected in the first quarter of 2024.
Current stock price: 1.28 pence, down 22% in London on Tuesday for GBP2.2 million market capitalisation
12-month change: down 1.6%
By Tom Waite, Alliance News editor
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