21 August 2014

Pan Pacific raises £1.1m

25/11/2009 Robert Tyerman

Battle-scarred Pan Pacific Aggregates (PPA) says it should start granite production before January after raising £1.1 million at a discounted 0.5p.

Based in British Columbia and quoted on AIM, PPA, which is emerging from a series of setbacks and upheavals, is now in a position to move its Pumptown granite quarry into production this quarter, declares managing director William Voaden. KC Investments, a vehicle for City dealer Keith Catchpole, has taken nearly a fifth of the placing and VSA Capital, an investment firm headed by Voaden, has been granted warrants to subscribe for 0.7 per cent of the enlarged capital at 0.5p over three years.

Floated in 2005 at 88p, PPA shares collapsed all the way to 0.25p after its original project ran into local opposition and then Pumptown was bedevilled with logistical and infrastructure problems and the company fell out with its local partners. These hurdles have mostly now been overcome and PPA directors talk of target production of one million tonnes a year from Pumptown, with hoped-for gross margins of 2.65p a tonne and a chance to supply regional infrastructure projects, some related to the 2010 Vancouver Winter Olympics.

Now 0.68p, the shares have speculative potential.

Please click here to complete our investment survey. You will automatically be entered into a prize draw to win two return tickets to Paris.

Tags: AIM, Fundraisings

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

RapidCloud buys Exxelnet 15/08/2014

Malaysian cloud computing specialist RapidCloud (AIM:RCI) has completed the acquisition of Singaporean SEO outfit Exxelnet.

Tags: Acquisitions, Technology

Zanaga gets mining approval 15/08/2014

Mining group Zanaga Iron Ore (AIM:ZIOC) has won approval for a licence within the Republic of the Congo.

Tags: Mining

Seeing Machines starts Chile JV 08/08/2014

Seeing Machines (AIM:SEE), the company which develops technology that monitors driver fatigue, has begun a joint venture partnership in Chile. 

Tags: Mining, Technology

Aureus gives Ebola update 08/08/2014

Aureus Mining (AIM:AUE), which operates in Liberia, has given an update on how the disease has affected its operations.

Tags: Mining

Cash shells hit eight-year high 31/07/2014

Research by Growth Company Investor into cash shells has found the number has hit an eight-year high.

Tags: Cash Shells

San Leon starts drilling in Morocco 31/07/2014

Oil play San Leon Energy (AIM:SLE) has reported that its partner Genel Energy has begun drilling off the coast of Morocco.

More News