Patagonia Gold raises gross proceeds of 6.2m pounds

Patagonia Gold has raised gross proceeds of approximately 6.2m pounds through a subscription of 41.2m new ordinary shares of 1p each in the company, each at a price of 15p per subscription share.

Patagonia Gold has raised gross proceeds of approximately 6.2m pounds through a subscription of 41.2m new ordinary shares of 1p each in the company, each at a price of 15p per subscription share.

The issue price represents a discount of approximately 3.23% to the closing middle market price of 15.5p per ordinary share on February 26th.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Patagonia Gold reported that subscription shares were subscribed for by Carlos Miguens and William Humphries, each a director of the company.

Following the subscription, the company will have 853.8m ordinary shares in issue.

Patagonia Gold is a mining company that seeks to grow shareholder value through exploration, development and production of gold and silver projects in the southern Patagonia region of Argentina.

Patagonia Gold's shares were up 9.68% to 17p at 09:48 on Wednesday.

MF

MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.