Anglesey Mining's 19.7% owned associate Labrador Iron Mines Holdings has confirmed a C$25.2m underwritten equity financing.

LIM said it had entered into an underwriting agreement with a syndicate of underwriters led by Canaccord Genuity and including RBC Dominion Securities, Scotia Capital, Macquarie Capital Markets Canada, Jennings Capital and Raymond James to sell 24,000,000 units of LIM at a price of C$1.05 each.

Each unit will consist of one common share of LIM and one-half of one common share purchase warrant.

Each warrant will entitle the holder to purchase one common share of LIM at an exercise price of C$1.35 per common share for a period of 36 months following the date of closing of the public offering.

At 8:53am: (LON:AYM) Anglesey Mining share price was -0.25p at 10p