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GTI Resources Ltd ( (AU:GTR) ) just unveiled an announcement.
GTI Energy Ltd has successfully raised A$4.5 million through a placement to sophisticated, professional, and institutional investors, with Snow Lake Energy acting as a cornerstone investor. This funding will support the company’s resource expansion and infill drilling at the Lo Herma project, enhancing its resource base and positioning it well in the growing U.S. nuclear power sector. The placement has attracted significant domestic and international institutional interest, and Snow Lake’s involvement will result in a 9.9% holding in GTI Energy, along with the right to appoint a director to the board. The funds will also be used for hydrogeological and metallurgical analysis, landholding costs, and general working capital.
More about GTI Resources Ltd
GTI Energy Ltd is a company operating in the uranium and nuclear energy sector, focusing on resource expansion and infill drilling projects. The company is involved in the development of its Lo Herma ISR uranium project, which is strategically located alongside Snow Lake Energy’s Pine Ridge project.
Technical Sentiment Signal: Sell
Current Market Cap: A$9M
See more data about GTR stock on TipRanks’ Stock Analysis page.