29th Oct 2013 14:20
LONDON (Alliance News) - Stellar Resources said it has raised GBP2.25 million through a placing in order to pursue further investment opportunities in the resources sector.
The exploratory mining company, with operations in South Wales, said it has raised GBP800,000 by way of a firm placing of 200 million new shares and it has raised a further GBP1.45 million through a conditional placing, both of which are subject to shareholder approval.
The company said its firm placing shares and conditional placing shares, when issued, will represent roughly 85.9% of the company's enlarged issued share capital.
Stellar Resources shares were up 12% to 0.644 pence, putting them in the top ten AIM movers Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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