Business
Placing and Appointment of Joint Broker
Placing and Appointment of Joint Broker.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0037B Alba Mineral Resources PLC 04 June 2019 \n\nAlba Mineral Resources plc\n(\"Alba\" or \"the Company\")\n \nPlacing and Appointment of Joint Broker\n \nAlba Mineral Resources plc (AIM: ALBA) is pleased to announce that it has raised £500,000 (before expenses) through the issue of 250,000,000 new ordinary shares at a price of 0.2 pence per ordinary share (the \"Placing\"), conditional on the admission of such new ordinary shares to trading on AIM (\"Admission\").\n \nThe placing proceeds are intended to be used principally in relation to the following project acceleration activities: \n \n- carrying out a maiden drilling programme at Amitsoq, our graphite project in southern Greenland which benefits from exceptionally high graphite grades, with drilling targeting a maiden JORC resource (proposed start date July 2019); \n- ongoing activities at the Company's Clogau Gold Project in north Wales, including:\n \n- embarking on what to the Company's knowledge will be the first ever systematic underground exploration programme to be undertaken in modern times within the Clogau-St David's Mine, involving some or all of channel sampling, bulk sampling and drilling (proposed start date summer 2019); and\n \n- continuing the regional exploration of the Dolgellau Gold Belt, which has so far identified seven new gold zones (exploration campaign currently ongoing); and\n \n- completion of the drilling of high-priority targets at the Company's Limerick base metals project, located in the world-class Irish Zinc Ore Field (drilling campaign currently ongoing).\n \nSVS Securities Plc have been appointed as Joint Broker to the Company with immediate effect.\n \nAdmission to AIM\n \nApplication will be made for the new ordinary shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will become effective at 8.00 a.m. on or around 18 June 2019. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.\n \nTotal Voting ...