logo-loader
viewAlba Mineral Resources PLC

Alba Minerals to raise £500,000 for Horse Hill

sterling350_5506945e150ae.jpg

Alba Minerals (LON:ALBA) has today revealed plans to raise £500,000 having struck a deal last week to double its stake in the Horse Hill project.

The company will issue 200mln new share at a price of 0.25p each.

Cash raised will pay acquisition costs and provide additional working capital to support its commitments to the Horse Hill venture.

Alba said it will also support the evaluation of new opportunities.

Last week the company agreed a £300,000 deal to acquire Regency Mines’ 5% stake in the Horse Hill Developments Ltd (HHDL) vehicle.

It gives Alba a total interest in HHDL of 10%, which in turn gives it 6.5% of the underlying Horse Hill asset.

HHDL has 65% of the Horse Hill oil discover near Gatwick airport.

Quick facts: Alba Mineral Resources PLC

Price: 0.0752 GBX

AIM:ALBA
Market: AIM
Market Cap: £3.11 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Legend Mining's Mark Wilson hails best results to date at Mawson and updates...

Legend Mining Limited's (ASX:LEG) Mark Wilson tells Proactive's Andrew Scott they've hit their best result yet at Mawson from hole 18 - an intersection of 4.5 metres at 3.05% nickel, 2.32% copper and 0.19% cobalt the best grades to date. Wilson adds that they recently received strong support...

1 hour, 43 minutes ago

2 min read