EML Raises £2 million to fund exploration activities of Ferrum Resources Limited

28 September 2011

Kerman & Co LLP advised Emerging Metals Ltd in its private placement of 100 million new shares at a price per share of 2 pence. The majority of the proceeds will be advanced to Ferrum Resources Limited to fund its ongoing exploration programme in Sierra Leone.

In June EML acquired 37.23% of Ferrum Resources and hold an option to acquire all of the issued and to be issued share capital of Ferrum which it does not already own.

Michael Corcoran, Associate Partner and Asad Qayyum from the Corporate Department advised Emerging Metals on this transaction