Alba Mineral Resources PLC (AIM:ALBA) shares tumbled 22% after the company announced a heavily discounted share placing.
The AIM-listed miner raised £75,000 by issuing 600 million new shares at just 0.0125p each, significantly below recent trading levels. The placing is conditional on the new shares being admitted to trading on AIM.
The stock was marked down 0.0041p to 0.014p, valuing Alba at just £1.85 million.