28th Jan 2019 11:38
LONDON (Alliance News) - Rockfire Resources PLC on Monday said it raised GBP500,000 in a share placing to private investors to fund new drilling campaigns.
The company issued 58.8 million shares at 0.85 pence each, with a warrant attached to each exercisable at 1.5p within 15 months.
Rockfire Resources shares were trading down 5.3% at 0.90 pence each on Monday.
"In addition to the development of our 100%-owned copper and gold assets in Queensland, there are currently a number of highly appealing deposits potentially becoming available as access to appropriate finance and operational knowledge is limiting other Australian-focused exploration companies in our region," Chief Executive Officer David Price said.
He added: "We are now ready to increase our momentum as we undertake critical, vigorous and exciting exploration."
As part of the placing, Chair Gordon Hart subscribed for 8.8 million shares, with attached warrants, for GBP75,000.
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Rockfire Resources