Richmond Hill Resources (RHR ) has raised £39,000 via a retail offer of shares at 2.6p each conducted through the Winterfloods system.
Combined with the proceeds of the company’s recent placing of £600,000, in aggregate the total funds raised amount to £639,000. The placing and retail offer were conducted at a premium to the 2.45p that the shares had been trading at prior to the announcement.
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The money raised will be used to progress, amongst other things, Richmond’s Martello gold project in Canada, where work is already underway to define drill targets. The gold price has been gyrating in recent days, so locking in a share price premium for a fundraise is no mean achievement. The next step is to move the work along, and prove up whatever’s there.