URA raises £475 000 for South African emerald mine
London-listed URA has raised £475 000 through the issue of 23.75-million shares at a price of 2p apiece to use as working capital for its 74%-owned Gravelotte emerald mine, in South Africa.
"We are delighted to announce this successful institutional placing. This significant increase in their investment by well-known UK institutions is a testimony to the quality of our assets, our team and the progress we have made and will continue to make as we not only start production but focus on post-production activities like sales, marketing and expansion.
"The proceeds will be used primarily to meet the working capital needs of our operations at the Gravelotte emerald mine once production has commenced and is expected to take us through to first revenue," comments chairperson Ed Nealon.
URA CEO Bernard Olivier on February 19 reported that the company was making continued progress towards the commissioning phase of both the processing plant and the optical sorter at Gravelotte.
The company has about 2 500 t of ore in stockpiles outside the processing plant ready for processing.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation