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Regency Mines raises £300,000 in placing to institutional investor

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Regency Mines (LON:RGM) said it has placed 5 million new shares to a single institutional investor at a price of 6.0 pence each for £300,000 before expenses.

At the end of November Regency entered into a loan agreement with YA Global Master SPV, advised by Yorkville Advisors LLC to finance its investment in Oracle Coalfields (PLUS:ORCP). The £1 million investment in Oracle was announced on November 12. Regency Mines said it was buying 18.5 million shares for 5.5 pence each to take a 10.4% stake in the business.

Also at the end of November, the company announced it had invested A$3 million into Direct Nickel Pty (DNi) as part of its joint venture to develop the Mambare lateritic nickel-cobalt project in Papua New Guinea.

Quick facts: Regency Mines PLC

Price: 3.125 GBX

LSE:RGM
Market: LSE
Market Cap: £2.79 m
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Regency Mines putting foundations in place for 'development and value'

Regency Mines PLC's (LON:RGM) Scott Kaintz and Ewen Ainsworth join Proactive's Andrew Scott in the London studio to discuss the recent refinancing of the firm's debt facility as well as the findings of the strategic review. Regency's refinanced US$1.254mln worth of loan notes through to July...

on 1/8/19

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