Regency Mines PLC (LON:RGM) placed a further 10 million shares in the company, at 1.25 pence each, for a subscription amount of £125,000 before expenses, with the money to be used for general working capital purposes.
At the start of the week, the mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea announced it placed 59 million shares at 1.1 pence each, raising £649,000 for the same purpose.
It said on Monday that Red Rock Resources PLC (LON:RRR), in which Regency chairman Andrew Bell and non-executive director John Watkins hold the same respective positions, subscribed for 12.5 million of the shares placed on that day. Following that subscription, Red Rock was interested in 17.9 million Regency shares, approximately 3.68 percent of the enlarged capital.
Regency in turn owns almost 30 percent of Red Rock.