LONDON (ShareCast) - (Sharecast News) - Nevada-focussed tungsten explorer Guardian Metal Resources announced on Monday that it has raised £0.75m through a placing with Premier Miton - a UK-based institutional investor.
The AIM-traded firm said the placing, conducted at 30p per share, involved the issue of 2.5 million new ordinary shares, representing 2% of its enlarged share capital.

No warrants were issued to the subscriber.

The board said the funds would support accelerated exploration and development at its Pilot Mountain project, as well as at the Tempiute project, pending the signing of a definitive agreement.

It said the placing was arranged by the company's broker, with 120,000 broker warrants issued as part of the commission.

The warrants would be exercisable at 37.5p per share, and would expire in 24 months.

"We are delighted that Premier Miton is adding to its existing holding in Guardian Metal," said chief executive officer Oliver Friesen.

"It is hugely encouraging that respected fund managers Gervais Williams and Martin Turner, along with the clients of Premier Miton, are demonstrating their confidence in the company.

"We are very confident about the company's direction as we head into 2025 and the additional financing allows us to accelerate and expand key exploration and development activities."

At 1036 GMT, shares in Guardian Metal Resources were up 5% at 31.5p.

Reporting by Josh White for Sharecast.com.

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