13th Jan 2016 08:13
LONDON (Alliance News) - Premier African Minerals Ltd shares dropped on Wednesday morning after the company issued shares at a discount to its share price to fund the ongoing underground mining development at its RHA tungsten project in Zimbabwe.
The company raised a total of GBP232,000 from the issuance of 70.3 million new shares at a price of 0.33 pence per share - more than a 30% discount to the company's closing share price on Tuesday of 0.475p.
Premier African shares were trading down 16% to 0.401p on Wednesday morning.
The shares issued represent around 6% of the company;s enlarged issued share capital.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Premier African Minerals