IN BRIEF: Pensana to raise GBP15 million to fund project development

Pensana PLC - London-based miner - Raises GBP15.0 million through issue of 12.5 million shares at ...

Alliance News 18 June, 2021 | 8:34PM
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Pensana PLC - London-based miner - Raises GBP15.0 million through issue of 12.5 million shares at price of 120 pence each.

Fundraise comprises placings conducted by SI Capital and WH Ireland Ltd, direct subscriptions and an investment by shareholder Fundo Soberano de Angola for 1.3 million shares.

Issue price at 6.3% discount to closing price on Thursday of 128.0 pence.

Proceeds will go towards allowing the company to process the early-stage development of the Saltend and Longonjo projects, particularly for construction, equipment, bulk materials and fabrication costs.

Current stock price: 118.50 pence, down 7.4%

Year-to-date change: up 7.7%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Pensana PLC Ordinary Shares 93.60 GBX 2.86 -

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