Aim-listed Armadale Capital has raised £795 275 through the placing of 72.30-million shares at a price of 1.1p apiece to support the completion of the definitive feasibility study (DFS) for its Mahenge Liandu graphite project, in Tanzania. “The strategic financing announced today provides the necessary capital to secure the completion of the company’s key DFS for its Mahenge Liandu graphite project and will bring Armadale to the point at which we will make the decision to mine,” Armadale director Nick Johansen said in a statement on Wednesday.
