Heavy Minerals Ltd (AU:HVY) has released an update.
Heavy Minerals Ltd has successfully completed a $2.1 million royalty funding round for its Port Gregory Project, with significant contributions from Campbell Transport and sophisticated investors. The raised capital will advance the Port Gregory Pre-Feasibility Study and provide working capital, with further non-dilutive funding strategies including a potential second tranche and an At-the-Market Subscription Agreement for standby equity in place. Chairman Adam Schofield expressed confidence in the project’s potential and the value this funding strategy brings to shareholders.
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