Business
Issue of Equity Placing £1.16 million conf...
Issue of Equity Placing £1.16 million conf....
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n Financing - raising of £1.16 million confirmed\n\nAnglesey Mining plc is pleased to report the success of its Placing, first\nannounced on 26 January 2006. The fund raising has been completed for the target\nfigure of £1,160,000 before expenses by way of a private placing of 9,666,667\nnew ordinary shares at 12 pence per share to 22 institutional and/or\nsophisticated investors.\n\nApplication has been made for the new ordinary shares to be admitted to trading\non the main board of the London Stock Exchange and dealings in shares are\nexpected to commence on 13 February 2006. The shares will rank pari passu with\nexisting shares. Following the placing there will be 137,508,051 shares in\nissue.\n\nThe funds from the placing will be applied to feasibility work together with\nongoing exploration and development work at the company's two projects: Parys\nMountain copper-zinc and Labrador iron.\n\nAt Parys Mountain, Anglesey the company is carrying out exploratory drilling and\nupdating the existing Project Plan and Feasibility Study for the 6.5 million\ntonne copper-zinc-lead deposit at 10.3% combined grades.\n\nIn Labrador, Canada the company is preparing a first phase feasibility report on\n100 million tonnes of direct-shipping hematite iron ore where it holds an option\nto enter into a 70% joint venture which plans to mine and ship 2 million tonnes\nper annum of iron ore initially, increasing to 5 million tonnes per annum.\n\nThe funds will also be applied to working capital, strategic developments and\ngeneral corporate purposes.\n\n\nContacts:\nIan Cuthbertson, Finance Director + (44) 1248 361333\nBill Hooley, Executive Director + (44) 1492 541981\nJohn F. Kearney, Chairman + (1) 416 362 6686\nCathy Malins / Annabel Leather,\nParkgreen Communications + (44) 20 7493 3713 \n ","length":2044,"tagName":"div"}]