Eurasia Mining PLC (AIM:EUA) raised £3.15 million in a share placing involving US and UK institutional investors with proceeds earmarked to repay a loan.
It comes ahead of the company’s planned dual listing, which will see a quote added to the Astana International Exchange in Kazakhstan.
“We are delighted to have US and UK institutions in Eurasia's equity at this pivotal point of US strategic interest in critical minerals in the Russian Arctic,” said executive chairman Christian Schaffalitzky.
The placing sees 72 million new shares sold, at a price of 4.37p per share.
In London, Eurasia shares were down around 6% to 4.47p.