News blog
Watermark Global
- BY: Andrew Hore |
- POSTED: 26/05/2010 |
Watermark Global is raising £630,000 at 0.275p a share which will keep it going for a little longer while it waits for the South African government to make a decision on its acid mine drainage treatment project.
The placing is in two tranches because Watermark needs to get shareholder approval to issue all of the shares.
At 0.375p a share, Watermark is valued at £2.58m before the share issue.
Costs are being cut and payments to creditors delayed. This means that the cash should last six months.
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