STOCKS NEWS EUROPE-Mariana Resources up on placing

Shares in Mariana Resources (MRRE.L: 株価, 企業情報, レポート) jump over 16 percent after the company announces a share placing, raising around 2.6 million pounds ($4.33 million), to carry out further exploration at its wholly-owned Calandria South project in Argentina.

Finncap says the assay results of the first hole at the project announced on Oct. 28, which saw Mariana's shares leap over 60 percent, "has subsequently proved to be a significant near-surface gold discovery."

"We value this initial discovery, post fundraise, at 19 pence per share. But this does not include the considerable potential upside from further drilling next year," says the broker in a note.

Reuters Messaging rm://david.brett.reuters.com@reuters.net

($1=.6002 Pound)