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FCM

-6.24%
NEUTRAL

First Class Metals Completes £520,000 Fundraise

Why we think this is neutral

The RNS provides details on the completion of a £520,000 fundraise, including a £500,000 placing and a £20,000 subscription by a Non-Executive Director. As this is a standard announcement of the results of a fundraising, the sentiment is assessed as NEUTRAL.

Key Points

  • Completion of £520,000 fundraise, including £500,000 placing and £20,000 subscription
  • Funds will be used for working capital and further exploration activities

Summary

The metals exploration company has successfully raised £520,000 through a placing and subscription, strengthening its working capital position.

First Class Metals PLC (LSE: FCM) has announced the completion of a £520,000 fundraise, comprising a £500,000 placing and a £20,000 subscription by a Non-Executive Director. The proceeds will be used to strengthen the company's working capital position and enable further exploration work across its portfolio in Ontario, Canada.

PLACING