Richmond Hill Resources (SHNJ) has raised £76,277.91 in a retail offer conducted via the Winterfloods platform. The company issued just over 7.6 million shares at 1p.
The retail offer adds additional funds to the £1.4 million recently raised via a placing. Its Aim listing should now take place on 15 October.
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Good to see support at the retail as well as the institutional level for Richmond’s listing, which now looks like it will get away smoothly. The money raised will be used to progress the company’s portfolio of Canadian exploration and development assets, which look highly prospective for copper, amongst other metals. Against the current backdrop of a revival of interest in the mining sector, the listing looks to be well timed, and exploration results ought to be received positively in the market.