Tertiary Minerals announces proposed fundraise to advance Zambia project
Following the encouraging results from the recent Phase 4 drilling at the Mushima North project, in Zambia, Aim-listed Tertiary Minerals has announced its plan to advance the project further and its intention to undertake a fundraising through the issue of new ordinary shares of 0.01p each in the company.
The proposed fundraise is intended to provide funding for the advancement of the company’s flagship Mushima North project, as well as for general working capital.
The proposed fundraise is being arranged by SP Angel Corporate Finance, the company’s joint broker.
Tertiary Minerals says the proposed fundraise will be conditional on shareholder approval at a general meeting, owing to insufficient share authorities. A notice of general meeting will be included in a circular to shareholders to be published following completion of the proposed fundraise.
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