Anglesey Mining PLC (AIM:AYM) has raised £500,000 of additional capital through a share placing at 1.5p a share.
The company, in a statement, said the placing results from "latent demand" following its earlier equity raise in May.
The new shares were sold on the same terms and participating investors received one warrant for every placed share.
Placing proceeds are earmarked to support activity at the Parys Mountain project in North Wales and the company’s efforts to advance the permitting and environmental impact and social assessment.
It also supports the company as it starts baseline studies for the Grängesberg iron ore mine, Anglesey Mining added.
At the same time, debt holder Juno has indicated to the company that it intends to convert its debt into equity – as set out in the company’s Juno investment agreement – with the conversion shares expected to be issued on or around 31 July.
Assuming no exercise of its investor warrants, Juno’s shareholding in Anglesey is expected to be c.20.5%.
In May, the company raised £1mln to help fund the start of drilling at Parys Mountain’s Northern Copper Zone.
-- adds placing update--