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International Molybdenum plc

RNS Number:2792J
Galahad Gold Plc
03 March 2005
3 March 2005
                                 Galahad Gold PLC
                           Placing to raise #5 million
Galahad Gold PLC ("Galahad") is pleased to announce that it has raised
#5 million by way of a placing of 41,666,667 new ordinary shares in the Company
(the "Placing Shares"), with RIT Capital Partners and J. Rothschild family
interests, at 12p per share ("the Galahad Placing").
In addition, those subscribing for the Placing Shares will receive one warrant to
subscribe for one ordinary share in Galahad for every two shares subscribed for
in the Galahad Placing.  These warrants will have an exercise price of 13p per
share and will be exerciseable until the second anniversary of the date of
admission of the Placing Shares to trading on AIM. This investment will give RIT
Capital Partners, of which Lord Rothschild is chairman and a shareholder, and J.
Rothschild family interests a 7.43% shareholding in Galahad on a fully diluted
basis.
The proceeds will be used for general corporate purposes and strategic
developments.
Commenting on the Galahad Placing, Ian Watson, Chairman of Galahad, said:
"I am delighted to see RIT Capital Partners and J. Rothschild family interests
subscribing for shares in Galahad.  This additional investment of #5,000,000 will
allow Galahad to take advantage of opportunities as they arise."
Galahad will today make application for admission to trading on AIM of the
41,666,667 Placing Shares and admission to AIM is expected to take place on 9
March 2005.
Enquiries to:
GALAHAD GOLD PLC
Ian Watson/Angelos Damaskos                             Tel: 020 7408 2002
PARKGREEN COMMUNICATIONS
Simon Robinson/Justine Howarth                          Tel: 020 7493 3713
DRESDNER KLEINWORT WASSERSTEIN
Chris Treneman                                          Tel: 020 7623 8000
                      This information is provided by RNS
            The company news service from the London Stock Exchange
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