Arkle Resources PLC (AIM:ARK) shares jumped higher in Wednesday morning’s deals after announcing a premium-priced placing.
The small-cap miner raised £500,000, with new and existing investors taking up shares at a price of 0.3p - a 28% premium to the prior day’s closing price.
Proceeds will support its dual exploration efforts across Ireland and Botswana.
In Ireland, further drilling is planned at the Stonepark zinc discovery, while in Botswana, a lithium brine drilling programme is being prepared, with potential use of Direct Lithium Extraction technology.
"We are delighted to welcome new shareholders who see the potential in Arkle which our loyal shareholders have seen and supported over the years," said Arkle chair John Teeling.
In London, Arkle shares gained 35% to trade at 0.32p.