GreenRoc Mining PLC - mining company with operations in Greenland; portfolio company of Alba Mineral Resources PLC - Raises gross proceeds of £470,000 via placing of 12.4 million shares at a price of 3.8 pence per share. Net proceeds will be put towards finalisation of the primary economic assessment of the Amitsoq project, laboratory preparation of different graphite product samples, ongoing field sampling connected to environmental & social impact assessment studies, and test processing of Amitsoq graphite ore.

Alba Mineral Resources, a northern Europe-focused mineral explorer, subscribes for 3.0 million placing shares as part of the placing. Alba will hold 63.0 million shares, or 43% of the company’s share capital.

Alba’s Executive Chair George Frangeskides says: ‘We have always made it clear, as GreenRoc’s major shareholder, that we will look to support GreenRoc’s fundraising efforts when it is feasible to do so.’

Current GreenRoc stock price: 3.88 pence, up 3.3% in London on Wednesday afternoon

12-month change: down 28%

Current Alba stock price: 0.14p, up 2.4%

12-month change: down 23%

Copyright 2023 Alliance News Ltd. All Rights Reserved