Ormonde announces share placing

The board of Ormonde Mining plc has announced a share placing of 10,000,000 new ordinary shares.

The placing is at 9.4c per share, representing 9.3% of the existing issued share capital of the company.

The new shares were placed with institutional and private clients in London and Dublin.

The €940,000 proceeds of the placing will principally be used to finance drilling and other activities on Ormonde's gold exploration projects in northern Spain and for general working capital purposes.

Ormonde shares have climbed 1c to 11c in trading in Dublin today.