Dannemora falls on a new share issue

Mining company Dannemora Mineral (STO: DMAB B) plummets hard and fast in Wednesday trading leading to a halt following a private placement of 130 million SEK that it set to bring in nearly 30% increase in the number of shares issued. The company has been struggling to bring the revenue stream to a level that would support profitable operations and thus needs cash to ride out the interim. The issue is subject to EGM approval on or about October 26th. A subsequent share issue of 1 million shares on top of the said 6.5 million one is planned for other existing shareholders.