Aim-listed Emmerson has closed a placing and concluded a bookbuild, raising gross proceeds of £750 000 through the issue of, in aggregate, 37.5-million new ordinary shares.

The company has also announced a retail offer via the Winterflood Retail Access Platform to raise an additional up to £100 000 through the issue of new ordinary shares.

The proceeds from the fundraising initiatives will primarily be used to cover the costs of remediation of the site of the Mine de Centre (a former salt mine situated in Emmerson’s previously held licence area in Morocco) and to pay invoices for completed engineering work and supplementary consultancy work in preparation of the legal case.

As reported by Mining Weekly in January, Emmerson has said its arbitration proceedings against the Moroccan government have moved into an active procedural phase, with the tribunal now fully constituted, an initial hearing completed and a formal timetable set for the submission of the company’s full legal case by the end of the first quarter of this year.

In a January 22 statement, the company said the arbitration panel had been fully constituted in the fourth quarter of 2025.

The arbitration arises from a dispute relating to the Khemisset potash project in Morocco. On April 30, 2025, Emmerson’s direct and indirect subsidiaries Khemisset UK and Potasse de Khemisset filed a request for arbitration with the International Centre for Settlement of Investment Disputes, which registered the request on May 23, 2025.

The subsidiaries, referred to as the claimants, are seeking compensation for loss and damage they say they sustained as a result of Morocco’s alleged breaches of its obligations under the bilateral investment treaty between the UK and Morocco.

According to Emmerson, the claims include allegations that Morocco expropriated the Khemisset project in violation of the treaty. The company also alleges that Morocco breached its obligations under the treaty by failing to accord fair and equitable treatment, failing to provide full protection and security to the claimants and their investments and impairing the investments through discriminatory measures.