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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:2058M Archipelago Resources PLC 12 May 2005 ARCHIPELAGO RESOURCES PLC PLACEMENT OF 23,216,560 SHARES AT 34P PER SHARE TO RAISE #7,893,630 Archipelago Resources plc is pleased to announce that it has received acceptances for 23,216,560 Ordinary Shares of 1p each in the capital of the Company ("Ordinary Shares") at an issue price of 34 pence per share to the value of GBP7,893,630. These shares when issued will rank pari passu with current issued shares in the Company. The shares have been placed principally with north American and UK funds. Application will be made for the shares to be traded on AIM and admission is expected on 20 May 2005. The shares have been placed under the authority granted by shareholders at an EGM held on 20 April 2005. 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 to meet the equity contribution required by debt financiers to allow development of the Toka Tindung Gold Project in Sulawesi and for corporate working capital. The Toka Tindung Gold Project has a resource of 1.75M ounces ("ozs") of gold equivalent, of which at least 0.9M ozs will initially be mineable by open pit. The project is targeted to produce 160,000 ozs per annum for an initial 6 year mine life commencing in mid 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 option holders over a 100% interest in the Corplex tenements). Further Info: Colin Loosemore, Managing Director, Archipelago Resources Plc. Tel: 00-618-9364-8301 Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: 020-7628-5518 www.mining-investor.com/arch This information is provided by RNS The company news service from the London Stock Exchange END IOEMGGMKRMVGKZM
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