Exploration company Ormonde Mining has raised £642,000 through a placing of more than 18.3 million new shares with new and existing investors. The shares were placed at a price of 3.5p sterling.
The move follows the recently announced doubling and upgrade of the mineral resource estimate for the company's Barruecopardo tungsten project in Spain.
Ormonde says the new funds will be used to carry out an infill drilling programme targeted at optimising the mining plan and schedule for the initial years of the mining operation at Barruecopardo.
