Elementos Secures $5 Million Strategic Investment from Metals X

The latest update is out from Metals X Limited ( (AU:MLX) ).

Elementos Limited has entered into a binding agreement with Metals X Limited for a $5.0 million strategic private placement to fund the development of its Oropesa Tin Project in Spain and the Cleveland Tin Project in Tasmania. This investment positions Metals X as a strategic shareholder with a 19.98% stake in Elementos, enhancing collaboration on key projects and leveraging Metals X’s expertise as Australia’s largest tin producer.

The most recent analyst rating on (AU:MLX) stock is a Hold with a A$0.48 price target. To see the full list of analyst forecasts on Metals X Limited stock, see the AU:MLX Stock Forecast page.

More about Metals X Limited

Elementos Limited is a company focused on the exploration, development, and production of tin projects globally. It owns significant tin projects with large resource bases in mining-friendly jurisdictions and is positioned to address the anticipated tin supply shortfall driven by increased global demand from electrification and green energy initiatives.

YTD Price Performance: 30.12%

Average Trading Volume: 5,265,102

Technical Sentiment Signal: Buy

Current Market Cap: A$478.7M

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