Centamin backs Nyota
6th Feb 2012
LONDON, Feb 6 – East African gold seeker Nyota Minerals is hoping to beat an investment rush with the announcement of a GBP9.66M placement in the United Kingdom and Australia.
Subject to shareholder approval, the company is offering 146.7M shares at GBP0.06 in the UK and 14.3M shares at A$0.089 in Australia.
Existing shareholder Centamin has subscribed for 67M shares, which will lift its holding to 14.08%.
Nyota, which expects many explorers to be seeking capital in the coming months, will use the funds to progress its Northern Block and Tulu Kapi gold project in western Ethiopia.
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