Friday May 16, 09:02 AM
UK smallcap opening - Van Dieman Mines softens on capital-raising move
LONDON (Thomson Financial) - Van Dieman Mines (LSE: VDM.L - news) softened 3/4 of a penny to 10 after the miner said it can not rule out
a modest shortfall in its working capital requirements following delays in commissioning and full production at its Scotia project.
The company, with 100 percent owned tin-sapphire mines in Tasmania, Australia, is reviewing a range of options to source additional working capital and is in advanced discussions with a number of banks and financial institutions.
Elsewhere, sharply higher Q1 losses clipped 11-1/2 from Frontera Resources (LSE: FRR.L - news) , at 106-1/2, while Carnegie Minerals Plc (LSE: CME.L - news) , the resource company with advanced exploration in Senegal and strategic partnerships in the United States, dipped 0.125 to 2.625 following news that non executive director Grant Mooney will be leaving the board due to other pressing business interests.
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