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Lithium Plus Minerals Ltd. ( (AU:LPM) ) has issued an announcement.
Lithium Plus Minerals has raised A$2.15 million through a placement of 21.5 million new shares at A$0.10 each, supported by institutional and sophisticated investors including cornerstone backer Suzhou CATH Energy Technologies. The discounted placement expands the company’s capital base to about 154.34 million shares and underscores strong investor confidence in the development potential of its Bynoe and Lei lithium assets.
Proceeds will fund completion of the Lei lithium project scoping study by the fourth quarter, ongoing exploration at the Bynoe Lithium Project and general working capital. With funding secured, Lithium Plus plans to engage external consultants, advance its Lei lithium DSO project and pursue downstream integration via a proposed flotation plant in China to create a lower-cost processing and trading pathway into the world’s largest battery market.
More about Lithium Plus Minerals Ltd.
Lithium Plus Minerals Ltd. is an Australia-based lithium exploration and development company focused on advancing the Bynoe Lithium Project, including the Lei lithium deposit in the Northern Territory. The company targets the growing global battery and electric vehicle markets by progressing direct shipping ore and downstream processing options linked to China’s lithium value chain.
Average Trading Volume: 58,154
Technical Sentiment Signal: Buy
Current Market Cap: A$15.94M
See more insights into LPM stock on TipRanks’ Stock Analysis page.