29th Aug 2018 12:40
LONDON (Alliance News) - Vast Resources PLC on Wednesday said it raised GBP863,750 before costs through a subscription to secure additional working capital.
The mining company said it issued 133.9 million shares at a price of 0.65 pence each. The stock was trading 5.5% lower on the day Wednesday at 0.62p per share.
Vast Resources said it will use funds to begin work on the Marange diamond fields in Zimbabwe and also provide funding for other interests in its portfolio.
"The opportunity which Vast has been offered in the Marange diamond fields in Zimbabwe is exceptional, and the board has established the absolute priority to begin due diligence works on the ground as quickly as practicable," said Chief Executive Andrew Prelea.
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