Landore Resources Ltd (AIM:LND) has responded to recent press speculation relating to a potential capital raise.
The company released a drilling update on 11 February 2021 which outlined progress with the 2020-2021 drilling programme.
The drilling programme remains on plan, and is fully funded through to completion in April 2021.
Landore confirmed the company has been in discussions with certain of its shareholders and prospective new investors in connection with a possible capital raise in order to extend the drilling programme beyond what was originally planned and to provide additional working capital for the company.
The company has received a good level of interest from new and existing investors with the amount, pricing and timing of any capital raise yet to be confirmed.
Accordingly, there is no certainty that a capital raise will be completed at this time and a further update will be provided in due course.