17th Mar 2014 13:11
LONDON (Alliance News) - AIM listed mineral exploration and development company Sunrise Resources PLC said Monday that it had raised GBP525,000 in a share placing.
Sunrise placed 116.7 million shares at a price of 0.45 pence with institutional and other investors and a Director.
It will used the funds for its projects in Australia and Nevada. It expects the first drill programme at the Cue diamond project to start within the next few weeks.
Chairman Patrick Cheetham invested GBP20,000 and GBP35,000 respectively in the placing and subscription. This takes Cheetham's share in the company to 3.7%.
Shares in Sunrise were trading down 6.4% at 0.515 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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