Ormonde announces share placing

ORMONDE MINING, the Irish mineral exploration company whose main focus is two mines in Spain (one for copper, gold and zinc and the other tungsten) has announced a share placing aimed at raising around £620,477 (nearly €720,000) in new capital.

The proceeds will be used by the company to boost its working capital.

“We are very pleased with the continued level of support from existing shareholders for our activities. This placing will serve to maintain adequate working capital levels and enable us to progress the funding arrangements and work programmes on both our Barruecopardo Tungsten and La Zarza Copper-Gold Projects,” managing director, Kerr Anderson said.