8th Jul 2015 07:16
LONDON (Alliance News) - Kennedy Ventures PLC on Wednesday said it has raised GBP1.4 million via a share placing to back the Tantalite Valley Mine in Namibia.
Kennedy holds a 75% stake in African Tantalum Pty Ltd, which owns the Tantalite Valley Mine, and is seeking to raise funds to bring the mine back into production.
It is issuing 26.7 million shares at 5.25 pence, a discount to its current share price. That sent its shares down 13% to 6.288 pence on Wednesday morning, one of the worst performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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