London Mining to price NOK$320 million private placement of shares

By Devika Patel

Knoxville, Tenn., Sept. 20 - London Mining plc announced it plans a NOK$320 million private placement of stock.

The company will issue between 14.5 million and 17.8 million new shares. The shares will be priced between NOK18 and NOK22 apiece.

Pareto Securities ASA will be the agent.

Proceeds will be used to finance capital expenditure at the Marampa iron ore mine in Sierra Leone and for general working capital.

London Mining is a London-based iron ore mining company.

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