Allied Critical Metals Launches $4 Million Private Placement for Tungsten Projects

DeepRock Minerals ( (TSE:ACM) ) has issued an update.

Allied Critical Metals Inc. has announced a strategic non-brokered private placement offering to raise up to $4 million. The proceeds will be used for exploration and development activities on their tungsten projects in Portugal. This move is expected to strengthen the company’s position in the tungsten market, which is valued at approximately $5 to $6 billion. The offering is subject to approval by the Canadian Securities Exchange and is expected to close by mid-August 2025.

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 and Vila Verde Tungsten Projects in northern Portugal. Tungsten is a critical metal, with significant demand in industries such as defense, automotive, manufacturing, electronics, and energy. The company aims to provide a friendly source of tungsten, a market currently dominated by China, Russia, and North Korea.

Average Trading Volume: 167,160

Technical Sentiment Signal: Sell

Current Market Cap: C$878.8K

Learn more about ACM stock on TipRanks’ Stock Analysis page.