Shareholders at Kenmare Resources approved a placing of 5.74 million new shares at 7.5p sterling each at an extraordinary general meeting yesterday. The placing represented the second tranche of a placing of 11.48 million new shares, which raised around £710,000 net. The new funds will be used to pay for the completion of a pre-feasibility study of mineral sand deposits in the Moma region of Mozambique, for the drilling of the Pilivili and Namalope zones of the Moma orebody, and for ongoing operations. The meeting approved the appointment of Mr Ken Judge and Mr Simon Farrell as directors of the company.