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DeepRock Minerals ( (TSE:ACM) ) just unveiled an update.
Allied Critical Metals Inc. has successfully closed the final tranche of its non-brokered private placement, raising a total of $5.1 million. The funds will be used for ongoing exploration and development activities at their tungsten projects in Portugal. The offering, which was oversubscribed, highlights investor confidence in the company’s strategic focus on critical metals, particularly tungsten, which is in high demand due to its industrial applications and geopolitical significance.
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 the market valued at approximately USD $5 to $6 billion. The company aims to provide a friendly source of tungsten, as the majority of global supply is currently controlled by China, Russia, and North Korea.
Average Trading Volume: 174,747
Technical Sentiment Signal: Sell
Current Market Cap: C$933.7K
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