JOHANNESBURG (miningweekly.com) – Triple-listed Ferrum Crescent has raised £193 304 before expenses, which the company will use for additional exploration and evaluation activities at the Toral and Lago lead/zinc exploration projects in Spain, and for general working capital.
The funds were raised through a placement of 214.78-million shares at an issue price of 0.09p. The placing is conditional on admission of the placing shares to trading on the Aim.
Ferrum Crescent recently announced the sale of its South African iron-ore assets to focus on its projects in Spain. Its main focus is the Toral project, where a drilling programme is under way.