AIM-listed Central African Mining & Exploration Company (Camec), rose ½p to 22¾p as investors applauded a heavily discounted placement to raise £14 million. The placement was carried out at 17p and the new funds will be used to develop Camec’s coal assets in Mozambique. Investors in Camec, which is part of a stable of companies controlled by Phil Edmonds, the former Test cricketer, have seen the value of their shares almost double this month. Two weeks ago Camec confirmed that development of its cobalt project in the Democratic Republic of Congo was on track.