VOG 2005 New Thread

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Victoria Oil & Gas soared 10p to 124.5p after the explorer said it had raised £13m through a placing of 16.8 million new shares at 78p. The group, which is focused on developing its site in Western Siberia, boasted that the placing had been two-and-a-half times over-subscribed. Van Dieman Mines, steady at 22p, also unveiled a fundraising, albeit on a smaller scale. The group said it had secured £2.8m by selling 20 million news shares to institutional investors at 15p. Van Dieman will use the cash to buy two primary treatment plans and a tin concentrate clean-up plant which will help process the metals it extracts from its mines.