21st Mar 2014 18:26
LONDON (Alliance News) - North River Resources PLC Friday raised GBP200,000 through a placing of about 30.8 million shares and said its definite feasibility study remains on track.
"This placing is for a small top-up to our working capital. In terms of funding, our emphasis is now switching towards project development finance, both debt and equity, where interest is good, alongside working capital. The company is also working up its application for a mining licence for the Namib Lead Zinc mine in mid-April and we expect to finalise the feasibility study for the project around the same time," Marin French, managing director, said in a statement.
North River shares Friday closed down 2% at 0.735 pence.
By Samuel Agini; [email protected]; @samuelagini
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