30th Mar 2015 12:13
LONDON (Alliance News) - Xtract Resources PLC on Monday said it has raised GBP1.75 million in a share issue to support work at the Chepica Gold and Copper Mine in Chile and on the sulphide copper tailings dumps in South Africa.
Xtract said it has issued 1.17 billion shares at 0.15 pence per share. Shares in Xtract were down 20% on the news to 0.172 pence, one of the worst performers in the AIM All-Share index.
It intends to use the proceeds of the placement to back further work at the Chepica project in Chile and on the sulphide copper tailings dumps in South Africa.
"We are delighted to have received strong support on this placing and the team are incredibly excited about the development work in Chile and the newly acquired Copper tailings project in South Africa," said Xtract Chief Executive Jan Nelson.
By Sam Unsted; [email protected]; @SamUAtAlliance
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