31st Mar 2016 10:14
LONDON (Alliance News) - Metminco Ltd on Thursday said it has raised funds to back ongoing work on the Quinchia gold project in Colombia.
Metminco is in the final stages of acquiring Minera Seafield SAS, the owner of the Quinchia project, from RMB Australia Holdings Ltd.
The company on Thursday said it has raised GBP500,000 through the issue of 250.0 million shares at 0.2 pence per share. Metminco shares were down 15% to 0.207p.
The funds will be used to complete a feasibility study, plant infrastructure and working capital for the Quinchia project.
By Sam Unsted; [email protected]; @SamUAtAlliance
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