Rose Petroleum plc


VANE Minerals Shares Surge After Company Raises 145,500 Pounds


2007-02-08 03:57 (New York)

By Stuart Wallace

Feb. 8 (Bloomberg) -- Shares of VANE Minerals Plc rose the most in more than three weeks after the company raised 145,500 pounds ($286,000) in a share sale.

The company sold 1 million new shares to Geiger Counter Ltd. at 15 pence apiece, London-based Vane said today in a statement distributed by the Regulatory News Service. The money will be used to develop uranium projects in the U.S.

Shares of VANE rose 1 pence, or 6.7 percent, to 16 pence as of 8:46 a.m. in London, the biggest one-day gain compared with closing prices since Jan. 15 and the highest since August 2005.

The stock has gained 28 percent this year, valuing the company at 23.4 million pounds ($46 million).