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DeepRock Minerals ( (TSE:ACM) ) has provided an update.
Allied Critical Metals Inc. has announced an increase in its non-brokered private placement offering to raise up to $16.25 million due to strong investor demand. The proceeds will be used for exploration and development activities at their tungsten projects in Portugal and for additional working capital. The offering is subject to Canadian Securities Exchange approval and is expected to close by October 21, 2025. This move is likely to enhance Allied’s operational capabilities and strengthen its position in the tungsten market, which is critical for numerous industries.
More about DeepRock Minerals
Allied Critical Metals Inc. is a Canadian-based mining company focused on expanding and revitalizing its 100% owned Borralha and Vila Verde Tungsten Projects in northern Portugal. Tungsten, a critical metal designated by the United States and other western countries, is primarily supplied by China, Russia, and North Korea, which account for about 86% of global supply. The tungsten market is valued at approximately USD $5 to $6 billion and serves various industries including defense, automotive, manufacturing, electronics, and energy.
Average Trading Volume: 257,571
Technical Sentiment Signal: Buy
Current Market Cap: C$1.76M
Find detailed analytics on ACM stock on TipRanks’ Stock Analysis page.