Zinc producer, New Century Resources(ASX:NCZ) has announced the completion of a $40 million dollar share placement.
The capital raised allows the company to complete the restart of operations at the 100 per cent owned Century Zinc Mine.
The offer was significantly oversubscribed with strong support from institutional investors.
Shares were offered at a price of $1.15, a discount of just over 9 per cent on the closing price of shares on the 27th of April.
Shares in New Century Resources (ASX:NCZ) are trading 4.35 per cent lower to $1.21.