Mining company Kenmare Resources is to raise around £10.3m through a placing of 54 million new shares at a price of 19p per share.
Kenmare is the owner and operator of the Moma titanium minerals mine in Mozambique.
It says the aim of the placing is to enable it to 'retain sufficient liquidity to meet its obligations and provide further financial resources to accelerate production expansion plans'.
The new shares represent 6.6% of Kenmare's issued ordinary share capital.
