Minco to raise £1m from private placing

Minco, the London-listed company chaired by Irish entrepreneur John Teeling, has announced the completion of a private placing of 12.5m new ordinary shares in the Company at £0.08 per share to raise £1m (€1.43m).

The gold and silver exploration and development company, will use the proceeds of the placing to accelerate its current exploration programmes on a number precious metals prospects in Ireland and Mexico.It will also progress negotiations on other precious metals projects in other parts of the world.