The exploration company, Ennex, is raising £2.75 million by the early exercise of 10 million warrants at 27.5p each. The warrants were part of the 15 million issued in December in part consideration for the purchase of Zinc Corporation of Kazakhstan.

The shares resulting from the exercise have been placed at 34.65p each with institutional investors in Britain and the Republic.

Chairman, Mr Brian Cusack has purchased 300,000 shares brings his holding to 2,153,797.

The company says the new funds will help support ongoing exploration and project evaluations.