Adriatic Metals PLC - operates Rupice silver mine and Vares processing plant in Bosnia and Herzegovina - Raises A$80.0 million, about $50 million, in a share placing with institutional investors. The two-tranche placing of 20.5 million Chess depositary interests at A$3.90 per share, about 197 pence, was first announced after the London market close on Monday. The first tranche worth A$43.3 million will take place immediately, while an additional A$36.7 million in new shares require approval at a general meeting to be called for March. These are expected to start trading on March 20. The fresh cash will be used to expand the Vares processing plant and to develop the Rupice mine toward nameplate production in the second half of 2025.
Current stock price: 203.00p, down 2.4% in London on Tuesday
12-month change: up 22%
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