22nd Apr 2015 07:26
LONDON (Alliance News) - Tengri Resources PLC on Wednesday said it has raised USD1 million in convertible unsecured loan notes in order to back the Taldybulak gold and copper project in the Kyrgyz Republic.
Tengri said the new capital has been provided by funds managed by Argyle Street Ltd and TIH Ltd. The loans are convertible to Tengri shares at a price of 5 pence per share, a 48% premium to its closing price on Tuesday.
Shares in Tengri were untraded Wednesday morning, having last traded at 3.4 pence.
The funding will be used to back the progression of feasibility and technical studies at the Taldybulak and Andash gold and copper projects, Tengri said.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Tengri Resources