By Devika Patel
Knoxville, Tenn., July 15 - Ormonde Mining plc said it will raise £1.36 million in a private placement of shares.
The company arranged to sell 19,389,000 ordinary shares at 7p per share.
The shares will be placed by Davy and Brewin Dolphin Ltd.
Proceeds will be used on the company's Barruecopardo Tungsten Project for drilling, mining studies, metallurgical testwork, engineering design work, environmental surveys and studies.
Based in Navan, Ireland, Ormonde Mining and its subsidiaries acquire, explore and develop mineral resource projects.
| Issuer: | Ormonde Mining plc
|
| Issue: | Ordinary shares
|
| Amount: | £1,357,230
|
| Shares: | 19,389,000
|
| Price: | 7p
|
| Warrants: | No
|
| Underwriter: | Davy and Brewin Dolphin Ltd.
|
| Pricing date: | July 15
|
| Stock symbol: | London: ORM
|
| Stock price: | 9.46p at close July 14
|
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