viewRegency Mines PLC

Regency Mines welcomes new shareholders aboard after placing


Regency Mines (LON:RGM) has raised £350,000 through a placing of 159mln shares at 0.22p a share.

The company said the proceeds from the share issue will be used to finance planned expenditure in Sudan and also for the nickel joint venture in Papua New Guinea, with any money left over being used for general working capital purposes.

Following the placing, the company will have 1.48bn shares in issue.

"This placement follows the recent notice of conversion of interests in Australia to Ram Resources shares, and together with that conversion gives a new robustness and financial visibility to the company,” said chairman Andrew Bell.

“We welcome some new and supportive shareholders who share our confidence in the prospects of the company. We will continue to control costs and are seeking ways to benefit from the sharp recovery in the nickel market, whose prolonged weakness has until recently hindered our strategic development and that of our partners," he added.

Shares in Regency Mines were down 0.01p at 0.24p in late afternoon trading.

Quick facts: Regency Mines PLC

Price: 0.0375 GBX

Market: LSE
Market Cap: £568.84 k

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Regency Mines PLC named herein, including the promotion by the Company of Regency Mines PLC in any Content on the Site, the Company receives...



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

2 min read