14th Apr 2016 07:57
LONDON (Alliance News) - Sierra Rutile Ltd on Thursday said it has raised USD20.0 million through an oversubscribed share placing with new and existing institutional investors.
The rutile producer said it placed a total of 70.1 million shares at 20.00 pence per share to raise the funding. Shares in Sierra Rutile were down 5.6% to 22.41p Thursday morning.
The funds will be used to provide additional working capital to the company as it works to increase its production through expanding dry mining operations at its site in Sierra Leone.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
SRX.L