11th Jul 2014 09:11
LONDON (Alliance News) - Tertiary Minerals PLC said Friday it has raised GBP420,000 through the placing of 7.3 million shares at 5.75 pence with institutional investors.
Shares in Tertiary were trading up 2.9% at 6.18 pence Friday morning.
The company said it will use the funds to continue evaluation of its fluorspar projects, and for working capital purposes.
"This fund-raising will allow the company to maintain momentum on its key fluorspar projects and in particular to continue with drilling on our exciting MB Fluorspar project in Nevada where we have already defined a large maiden Mineral Resource," said Chairman Patrick Cheetham in a statement Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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