Connemara Mining Company (LON:CON) – CORP Placing
Market Cap: £1.3m; Current Price: 2.35p
From Friday: £400,200 placing
Connemara Mining Company has raised £400,200 (gross) through the placing of 20,010,000 shares at 2p per share, with a one-for-one warrant at 5p per share. The placing represents 26.4% of the Company’s issued share capital.
Following the placing the Company will have 75,789,711 shares in issue.
NORTHLAND CAPITAL PARTNERS VIEW: Connemara Mining Company will use the proceeds from this placing to undertake the next phase of drilling at its gold projects located in Donegal. The Company plans to commence drilling in the coming weeks.