A company developing a silver and zinc deposit in Bosnia-Herzegovina has launched the biggest share sale this year by a London-listed mining company.
Adriatic Metals is seeking to raise $102m to complete development of the Vares underground mine, which is located 50km north of the country’s capital Sarajevo.
It has placed $52m worth of shares with private equity group Orion Mine Finance, which is also investing $120m in senior debt and $22.5m for a stream of future royalty payments.
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