London-listed Tertiary Minerals has raised £880,000, before expenses, through a placing of 1,1 billion new ordinary shares for 0.08 pence per share to finance copper exploration activities at the company's projects in Zambia and the United States.
This, it said, would include drilling for copper at the company's Mushima North & Jacks projects in Zambia and drilling for copper and gold at Brunton Pass in Nevada.
These programmes are additional to the drilling already in progress at the Konkola West Copper Project, which is being funded by KoBold Metals, and the planned drilling on the company's Mukai Copper Project, which will be funded by First Quantum Minerals.
The Placing was arranged through the Company's joint broker, Peterhouse Capital, which will be issued with 55 million warrants to subscribe for further new ordinary shares at the Placing Price at any time before one year from the date of admission.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
