80 Mile announced it is carrying out a placing to raise approximately £1.5 million, before expenses, by issuing approximately 555,555,555 new ordinary shares in the company's capital to certain existing shareholders and other investors at a price of 0.27p/share.The placing price represents a discount of approximately 6.90% to the closing price of 0.29p/share on 18 December 2024.
The company also announced the acquisition of an interest in Hydrogen Valley and its subsidiary Greenswitch srl, for up to £2 million and the issue of 29% of the company's shares.Shares were at 0.27p/share, down 7%. Serabi Gold said the classification plant for its 100% owned Coringa gold operation in Pará State, Brazil, within the Tapajós region, is now fully commissioned. 'With Coringa continuing to ramp up and generate positive free cash flow, we are pleased to share that our classification plant at Coringa is operational and working as expected,' chief executive Mike Hodgson said. 'The plant will be instrumental in achieving Phase 1 of our growth strategy, which is to raise our annual production profile to 60,000oz by 2026,' he added. Serabi shares are trading at 121.40p, giving it a market cap of £91.73 million. Great Western Mining Corporation gave an update on the Western Milling Joint Venture, saying that pilot production at Western Milling will start following a visit by the Nevada State Inspector of Mines, now scheduled for 16 January 2025. Following this visit, a trial run of material will be processed through the mill. Great Western will have personnel on site for this operation. Shares were at 0.017p/share, down 3%. Savannah Resources, the developer of the Barroso lithium project in Portugal, shared a statement by Rick Anton, the company's chair. Anton pointed to Savannah's share price doubling this year, adding that this 'made us one of the best-performing lithium stocks in the last 12 months'
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