JOHANNESBURG (miningweekly.com) – TSX-V-listed tin exploration and development company Alphamin Resources has raised R33.8-million ($2.5-million) through a South African private placement.
Alphamin will issue 9.95-million units to the successful South African participants at a price of R3.40 a unit.
The final number of common shares to be listed on the AltX of the JSE on Friday will be 522.2-million.
Simultaneously, the company is undertaking a $53.6-million (R725-million) TSX-V private placement, which is expected to conclude on January 8.
In total, Alphamin would have raised some $56.1-million (R759-million) through the two placements.
The equity raisings will assist Alphamin in jumping the final funding hurdle for its Bisie tin project, in the North Kivu province of the Democratic Republic of Congo.