13th Jul 2015 09:17
LONDON (Alliance News) - Africa-focused miner Red Rock Resources PLC on Monday said it has issued a further tranche of shares, in addition to the two it issued last week, to raise another GBP75,000.
Red Rock said it would issue 157.9 million shares at 0.0475 pence per share due to strong investor demand for its shares. It was trading up 6.7% to 0.0488 pence on Monday.
The transaction comes after two other tranches were issued last week, one of GBP327,500 and one for GBP51,250. In total, Red Rock now has raised GBP453,750.
The proceeds will back its exploration activities in West Africa.
"We are glad to have the confidence of our new shareholders and to have achieved our originally targeted total investment and look forward to strong news flow in the months ahead," said Chairman Andrew Bell.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Red Rock Resources