|
First Class Metals PLC shares inched higher on its stock market debut in London on Friday.
The company, which owns seven gold, base and battery metal exploration projects in Ontario, Canada, raised £1.1 million at 10 pence each.
The stock closed at 10.20p each on Friday, up 2.0% from its initial public offering price.
‘The proceeds of the fundraising will be used to undertake exploration and development expenditure of the projects and provide working capital to cover ongoing annual administrative and operating costs,’ First Class said.
Power Metal Resources PLC noted the listing. It has roughly a 28% stake in First Class.
‘Today's listing is a notable event for Power Metal, where a previous project investment has now become a significant balance sheet asset. We will be watching the progress of First Class with a keen interest,’ Power Metal Chief Executive Paul Johnson says.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
