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Great Southern Copper PLC - Chile-focused copper, gold and lithium explorer - Raises £780,000 via a placing of 62.4 million new shares at 1.25 pence per share. Each share has a warrant exercisable at 2.50 pence each for 24 months after the share placing. The proceeds will fund the expansion of its exploration programme in Chile, within the copper-gold Especularita project.
Chief Executive Officer Sam Garrett says: ‘Whilst the equity markets continue to be starved of capital for early stage exploration, this investment reflects the increasing confidence and excitement around the company’s prospects. The funds will be deployed to advance our drilling programmes and other exploration activities over the next six to twelve months.’
Current stock price: 1.50 pence, closed up 3.5% in London on Friday for £6.7 million market capitalisation
12-month change: down 41%
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