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Greentech Metals Ltd. ( (AU:GRE) ) has shared an announcement.
GreenTech Metals has secured firm commitments for an oversubscribed capital raising of $7.5 million via a two-tranche share placement priced at $0.075 per share, matching the last traded price but at a discount to recent VWAPs. The placement, led by CPS Capital and backed by existing and new institutional investors including a cornerstone from RCF Opportunities Fund II, expands the company’s register with resource-focused funds and lifts pro-forma cash to about $9.5 million.
Proceeds will fund Phase II exploration and development at the Munni Munni PGE-Cu-Ni and Whundo Cu-Zn-Au projects, including restating Munni Munni’s historic mineral resource estimate to JORC 2012 and drilling at Whundo to support gold inclusion in an updated resource. The strengthened balance sheet and third-party validation from institutional due diligence are expected to accelerate project advancement and potentially enhance GreenTech’s standing in the West Pilbara critical metals sector and its appeal to shareholders.
More about Greentech Metals Ltd.
GreenTech Metals Limited is an ASX-listed exploration company focused on battery and precious metals in Western Australia’s West Pilbara region. Its primary assets include the Munni Munni platinum group elements, copper and nickel project and the Whundo copper, zinc and gold project, positioning the company within the critical minerals supply chain.
Average Trading Volume: 829,384
Technical Sentiment Signal: Sell
Current Market Cap: A$20.59M
Find detailed analytics on GRE stock on TipRanks’ Stock Analysis page.