News Column

Kemin Resources Raises GBP2.1 Million In Share Placing

June 25, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Kemin Resources PLC Wednesday said it has conditionally raised roughly GBP2.1 million in a share placing, funds it said it will use to continue to develop its tungsten and molybdenum assets in Kazakhstan.

The tungsten and copper exploration and development company said it placed a total of 22.8 million shares in the placing with institutional investors, at 9 pence per share.

Kemin Resources shares were up 4.7% at 8.90 pence Wednesday morning.

Besides using the proceeds to continue the development of its tungsten and molybdenum assets, Kemin also said it will use the funds for general working capital purposes.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters