Desert Metals Completes Tranche 1 Placement, Plans for Tranche 2

Desert Metals Ltd. ( (AU:DM1) ) has shared an update.

Desert Metals Limited has successfully completed Tranche 1 of its share placement, raising $1,138,700 through the issuance of 58,394,884 ordinary shares to institutional, sophisticated, and existing investors. This move strengthens the company’s financial position and supports its ongoing exploration activities. A shareholder meeting is planned for April 2025 to approve Tranche 2, which aims to raise an additional $2,111,300. The completion of these placements is expected to enhance Desert Metals’ operational capabilities and market presence.

More about Desert Metals Ltd.

Desert Metals Limited is an ASX-listed mineral exploration and development company with a focus on gold and lithium projects in Côte d’Ivoire, West Africa. The company has joint venture arrangements allowing it to earn a majority interest in six projects covering 2,475km², including a 51% stake in the Tengrela South project and an 80% interest in the Adzope gold project.

YTD Price Performance: 5.00%

Average Trading Volume: 691,021

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$5.62M

For an in-depth examination of DM1 stock, go to TipRanks’ Stock Analysis page.