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An update from Battery Mineral Resources ( (TSE:BMR) ) is now available.
Battery Mineral Resources Corp. plans to raise approximately C$34.9 million through a non-brokered private placement of 174,430,850 common shares at C$0.20 per share, with the net proceeds earmarked for general working capital. The financing, which is subject to TSX Venture Exchange and other regulatory approvals and will carry a four‑month hold period on the new shares, is expected to bolster the company’s liquidity as it advances its Chilean Punitaqui copper operations and broader growth strategy in electrification-focused mining assets, though it will also increase the company’s share count and dilute existing shareholders.
More about Battery Mineral Resources
Battery Mineral Resources Corp. is a mining company that operates the Punitaqui Mining Complex, a historic copper, gold and silver-producing asset in Chile’s Coquimbo region. Its portfolio also includes 100%-owned ESI Energy Services Inc. and various North American mineral exploration assets, with a strategic focus on providing investors exposure to copper and the broader electrification trend through cash flow generation, exploration and acquisitions in favorable mining jurisdictions.
Average Trading Volume: 27,951
Technical Sentiment Signal: Buy
Current Market Cap: C$15.38M
See more insights into BMR stock on TipRanks’ Stock Analysis page.