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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Archipelago Res | LSE:AR. | London | Ordinary Share | GB0033551721 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 57.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8720G Archipelago Resources PLC 29 December 2004 ANNOUNCEMENT PLACEMENT of 6,666,700 SHARES at 30p/SHARE to RAISE #2.0M Archipelago Resources plc is pleased to announce that it has placed 6,666,700 Ordinary Shares of 1p each in the capital of the Company ("Ordinary Shares") at an issue price of 30 pence per share to the value of GBP2M. These shares will rank pari passu with current issued shares in the Company. The shares have been placed with private and institutional investors and will be issued in two tranches, the first of which will occur prior to 31 December 2004. Following issue the Company will apply for the shares to be listed on AIM. Placing commissions are payable to parties unrelated to the directors amounting to 5% of the value of shares placed by those parties. The funds raised will be used as working capital by the Company, including the purchase of additional plant and equipment from Barrick's El Tambo Project in Chile (Phase II purchase) as previously announced by the Company on the 22 November 2004. The Company is currently completing due diligence studies as a necessary pre-requisite for project financing of its Toka Tindung Gold Project in Sulawesi. The project has a resource of 1.75M oz of gold equivalent of which at least 0.9M oz will initially be mineable by open pit. The project is targeted to produce at least 160,000 oz per annum for an initial 6 year mine life commencing in early 2006. Archipelago is a mining company listed on the AIM market of the London Stock Exchange. The Company's principal activities are gold mining and exploration in Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam (as majority party in the Cam Thuy/Ba Thuoc joint venture with Vimico a Vietnamese Government mining company) and the Philippines (as 100% option holders over the Corplex tenements). www.mining-investor.com/arch This information is provided by RNS The company news service from the London Stock Exchange END IOEFKLFLZLBZFBE
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