LNR Libra Natural

RNS Number:6462W
Libra Natural Resources PLC
16 May 2007


Press Release                                        16 May 2007

                          Libra Natural Resources plc

                            ("LNR" or "the Company")

                  Institutional placing to raise #3.5 million

Libra Natural Resources plc (AIM: LNR), the international company that acquires
and invests in waste-to-energy assets, is pleased to announce that following an
institutional road show, 35,000,000 new ordinary shares in the Company ("Placing
Shares") have been conditionally placed with a number of institutional investors
at a price of 10p per Placing Share, raising a total of #3,500,000 for the Group
("the Placing").

The proceeds of the Placing will be used to provide working capital and enable
the company to further exploit the increasing growth and investment
opportunities within LNR's wood pellet business, in line with the strategy
announced on 18 December 2006.  Specifically, the Placing will allow LNR to
further upgrade and develop its two existing wood pellet facilities in British
Columbia, Canada, as well as, where appropriate, to fund future expansion of its
international operations in this area, through selective acquisitions.  This
further investment in this division follows an exceptional first quarter
performance from the business and reaffirms the commercial rationale behind
LNR's growing emphasis and commitment to this area of the Company's operations.

Peter Greensmith, CEO of LNR, said: "This placing is significant not only
because it will further increase the already considerable production and
earnings performance and potential of our operations in British Columbia, but
also because it has given your Company the opportunity to attract a number of
new institutional investors.  We are particularly pleased to have gained support
from several blue-chip, UK institutional investors, who clearly share your
Board's belief in the enormous opportunity that exists in LNR's portfolio,
especially our wood pellet operations.  This enhancement of LNR's shareholder
base represents a major step forward for the Company, and we look forward to
working alongside our new shareholders, as we continue to aggressively grow our
business.

"The proceeds will have considerable benefits to the operations of the wood
pellet division, as we continue to build and strengthen this business area.  We
are committed to building your Company into one of the world's leading producers
of wood pellets, and shareholders can expect further developments of this
strategy being announced with LNR's 2006 results statement next month."

The Company will shortly issue an explanatory circular to shareholders convening
the EGM to approve the Placing.

For further information:
  Libra Natural Resources plc
  Peter Greensmith, Chief Executive                    Tel: +44 (0) 20 7877 5052

Media enquiries:
  Abchurch
  Franziska Boehnke / Joanne Shears                    Tel: +44 (0) 20 7398 7700
  joanne.shears@abchurch-group.com                        www.abchurch-group.com


Notes to Editors:

Libra Natural Resources plc is a company which invests in, or acquires,
commercialised assets, businesses or companies involved in the alternative
energy sector.  The Company listed on the AIM market of the London Stock
Exchange in March 2005.  Libra's successful green fuel strategy currently
concentrates on three waste-to-energy concepts: waste coal, waste wood and waste
gas.

For further information on the Company, please see www.lnrplc.com



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
IOEEASSSFLPXEFE

Libra Natural Resources (LSE:LNR)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Libra Natural Resources (LSE:LNR)
Gráfica de Acción Histórica
De May 2023 a May 2024