Aim-listed Ncondezi Energy has raised £950 000, before expenses, through a conditional placing of 15.2-million ordinary shares at a price of 6.25p apiece. The company will use the funds to strengthen its balance sheet as it moves towards the conclusion of a joint development agreement (JDA) for its 300 MW power plant and coal mine project, in Tete, Mozambique.
Source: www.engineeringnews.co.za
Ncondezi raises £950 000
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