Leyshon Resources AIM Readmission and Placement
December 23 (Leyshon) Leyshon Resources Limited (AIM:LRL, ASX:LRL) (Company) advises that it has today lodged the attached Admission Document with the Alternative Investment Market (AIM) of the London Stock Exchange pursuant to its readmission to trading on AIM.
The Company will be placing 30,435,130 new ordinary fully paid ordinary shares at A$0.23 to raise approximately A$7 million before costs as part of its readmission.
The shares have been placed with a number of high profile Beijing based institutional fund managers who are supportive of the Company's business plans.
As previously advised the Company is in active discussions for the acquisition of a large thermal coal project in eastern Xinjiang and in addition it is reviewing a number of thermal coal projects in Inner Mongolia. It is continuing the process of applying for exploration licences in south west Mongolia that have the potential to host coking coal.
Following the issue the Company will have cash of approximately A$54 million (including term deposit interest) and 246,525,724 ordinary fully paid shares on issue.
The Company will be placing 30,435,130 new ordinary fully paid ordinary shares at A$0.23 to raise approximately A$7 million before costs as part of its readmission.
The shares have been placed with a number of high profile Beijing based institutional fund managers who are supportive of the Company's business plans.
As previously advised the Company is in active discussions for the acquisition of a large thermal coal project in eastern Xinjiang and in addition it is reviewing a number of thermal coal projects in Inner Mongolia. It is continuing the process of applying for exploration licences in south west Mongolia that have the potential to host coking coal.
Following the issue the Company will have cash of approximately A$54 million (including term deposit interest) and 246,525,724 ordinary fully paid shares on issue.
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