StockMarketWire.com - Mineral exploration and development company Amur Minerals said it had raised £6.1m through discounted equity raise to fund an investment in Nathan River Resources.

The company placed 348,571,421 shares at a price of 1.75p a share, representing a discount of approximately 18% to the closing price on 24 August.

The proceeds of the placing would be used, in part, to subscribe for US$4.67m in secured convertible loan notes in Nathan River Resources, which owned the Roper Bar iron ore project located in the Northern Territory in Australia .

The remaining US$3.26m would be used to fund the continued development of the Kun-Manie nickel copper project, general working capital and to pay expenses relating to the investment and the placing, the company said.



At 8:56am: [LON:AMC] Amur Minerals Corporation share price was -0.13p at 2p



Story provided by StockMarketWire.com