Ferrum Crescent raises more than £225,000 as it focuses on Europe
Its share price was unchanged after fourth-quarter update
JSE-listed exploration miner Ferrum Crescent’s share price was unchanged on Monday, after news it had now disposed of its South African assets, and has met its capital raising target for its Spanish lead-zinc operations. The Australian-based company, which has secondary listings in Joburg and London’s AIM, fell 33% on the JSE on Friday, after releasing an update on drilling at its Spanish operations. The company’s share price was unchanged at 2c on Monday, following its update for the quarter ended June 30. It’s share price has shed 60% so far this year after announcing it would no longer pursue its local iron-ore project in Limpopo. The company, however, had its "speculative buy" rating reissued by analysts at Beaufort Securities in a note on Friday. The divestment of South African assets was leading to a significant reduction in ongoing costs, with the company’s attention focused on its lead-zinc exploration, said executive chairperson Justin Tooth in the statement. Ferrum Crescen...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.