Alvo Minerals Limited (AU:ALV) has released an update.
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Alvo Minerals Limited has successfully raised A$4.2 million through a strategic placement at a premium, with Ore Investments Ltda., a Brazilian private equity group, taking a 19.9% stake and earning a board director nomination. The funds will be directed towards drilling and advancing the company’s high-grade Palma Cu-Zn VMS Project, as well as their Bluebush and Ipora Ionic Clay REE Projects in Central Brazil. The placement showcases investor confidence and marks a significant step for Alvo in the critical minerals sector.
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