Richmond Hill Resources (RHR) has listed on Aim, following a placing and retail offer that raised just under £1.5 million at 1p per share.
The listing makes official the company’s acquisition of Bulawayo CC Ventures Limited Bulawayo for £3.3 million, which will be be satisfied through the issue of 315 million shares and £150,000 in cash.
Richmond Hill’s market capitalisation on admission was approximately £5.9 million.
The plan now is to explore, maintain and develop the Saint-Sophie project, which consists of 145 map designated mineral exploration titles covering a total surface area of approximately 87 square kilometres in the Centre-du-Québec region, approximately 165 kilometres east of Montreal and 80 kilometres southwest of Quebec City in Canada, an area already known for copper mineralisation.
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Good to see Richmond Hill getting away at last, after months of careful preparation. The timing looks good too - copper markets have tightened recently as global stockpiles fall, and supply has been constrained by issues at several high-profile mines. Watch for further newsflow now, as Richmond Hill gets down to serious work.