Anglesey Mining PLC (AIM:AYM)’s recent £1mln placing and subscription is significant as it reaffirms the confidence held by institutions, investors and directors in the direction of Anglesey, according to WH Ireland.
Nearly 66.7mln shares will be issued to subscribed institutions and investors (including directors) at a price of 1.5p.
WHI said the funds raised will be invested to advance, grow and de-risk the Parys Mountain and Grängesberg projects.
News flow should pick up over the coming months, with the broker still seeing fair value for the miner at 11.2p per share.