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The latest update is out from DeepRock Minerals ( (TSE:ACM) ).
Allied Critical Metals Inc. has announced a strategic non-brokered private placement to raise up to $10 million through the issuance of common shares at $0.60 each. The proceeds will be used for exploration and development activities on its tungsten projects in Portugal, with the offering subject to Canadian Securities Exchange approval. This move aims to strengthen Allied’s position in the tungsten market, which is valued at approximately USD $5 to $6 billion, and reduce reliance on major global suppliers.
More about DeepRock Minerals
Allied Critical Metals Inc. is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned Borralha Tungsten Project and Vila Verde Tungsten Project in northern Portugal. Tungsten is a critical metal used in various industries such as defense, automotive, manufacturing, electronics, and energy, with China, Russia, and North Korea currently dominating the global supply.
Average Trading Volume: 255,888
Technical Sentiment Signal: Buy
Current Market Cap: C$1.84M
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