20th Aug 2015 07:11
LONDON (Alliance News) - Sula Iron & Gold PLC shares were trading lower on Thursday morning after the company said it will raise GBP400,000 via a discounted share placing.
Sula said it will issue 66.7 million shares at 0.6 pence per share. Shares in the company were down 28% in early trade to 0.61 pence, the worst performer in the AIM All-Share.
Sula said it will use the net proceeds from the issue for working capital purposes and to fund a scout drilling programme at the Ferensola gold project in Sierra Leone.
By Sam Unsted; [email protected]; @SamUAtAlliance
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