Business
Placing and Dalli Copper-Gold
Placing and Dalli Copper-Gold.
About this update from Clontarf Energy Plc
[{"type":"text","content":"\n RNS Number : 5112J Persian Gold PLC 04 December 2008 \n \n\n4th December 2008\n\nPERSIAN GOLD PLC\n\nPlacing & Dalli Copper-Gold Update\n\nHighlights:\n\n\n\nPlacing of 11,250,000 new ordinary shares\n\n\n\n\n\nPositive results from trenching programme at North Hill of Dalli Copper-Gold \n\n\n\n\n\nDetailed 3D model of the Dalli deposit to be completed within 2 months\n\n\n\nPersian Gold Plc ('the Company'), the Irish based Iranian explorer, is pleased to announce it has completed a placing of 11,250,000 new ordinary shares at a price of £0.04 per share to raise approximately £450,000 (before expenses). The shares have been placed under the existing share authorities and will rank pari passu with the existing issued ordinary share capital.\n\nIn addition, for every two new shares acquired, each subscriber is entitled to receive one warrant at an exercise price of £0.04 with an exercise period of two years from the date of issue.\n\nThe proceeds of the placing will be used to provide additional working capital.\n\nApplication for the 11,250,000 of the new ordinary shares to be admitted to trading on AIM has been made. Admission is expected on 9 December 2008.\n\nFollowing the placing the directors' interests are:\n\n\n\n\n\n\n\n\nNo of shares before placing\n\n\nPercentage before placing\n\n\nNo of shares following placing\n\n\nPercentage following placing\n\n\n\n\nJohn Teeling\n\n\n9,800,400\n\n\n15.46\n\n\n11,675,400\n\n\n15.64\n\n\n\n\nJim Finn\n\n\n4,700,400\n\n\n7.41\n\n\n5,950,400\n\n\n7.97\n\n\n\n\nJack Teeling\n\n\n4,100,000\n\n\n6.47\n\n\n4,725,000\n\n\n6.32\n\n\n\n\nDavid Horgan\n\n\n4,200,000\n\n\n6.62\n\n\n5,450,000\n\n\n7.30\n\n\n\n\nManouchehr Takin\n\n\n-\n\n\n-\n\n\n300,000\n\n\n0.40\n\n\n\n\n\n In addition to the placing announcement, the Company is pleased to provide an exploration update on the trenching programme at the North Hill of the Dalli copper-gold project located 200km southwest of Tehran.\n\nDalli is a gold/copper porphyry with extensive surface mineralisation and two distinct centres of pervasive alteration located 1.7km apart. It is a joint venture between Persian Gold (70%) and Dorsa (30%), a local Iranian company.\n\nThe North Hill tar...