Morella raises A$2.1m as drilling kicks off at Mt Edon rubidium–lithium project

An announcement from Morella Corporation ( (AU:1MC) ) is now available.

Morella Corporation has secured firm commitments for a A$2.1 million equity placement, issuing roughly 52.5 million new shares at A$0.04 each with free-attaching options, at a discount to recent trading prices. The raise, backed by major shareholder Interra Resources and the company’s directors, will be executed in two tranches and signals continued investor confidence in Morella’s critical minerals strategy.

Proceeds will fund drilling and resource definition at the Mt Edon rubidium–lithium project, ongoing exploration at Mallina and Tabba Tabba, and general corporate purposes. Drilling has begun at Mt Edon, with a 3,000-metre reverse circulation program designed to tighten drill density, test strike and depth extensions, and underpin a maiden JORC-compliant mineral resource estimate, potentially strengthening Morella’s position in the emerging rubidium–lithium market.

The most recent analyst rating on (AU:1MC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Morella Corporation stock, see the AU:1MC Stock Forecast page.

More about Morella Corporation

Morella Corporation Limited is an ASX-listed critical minerals company focused on rubidium and lithium projects in Western Australia. Its portfolio includes the Mt Edon rubidium–lithium project, where it holds a majority interest under a joint venture with Elevra Lithium, alongside additional exploration assets at the Mallina and Tabba Tabba projects.

YTD Price Performance: 12.82%

Average Trading Volume: 399,082

Technical Sentiment Signal: Hold

Current Market Cap: A$16.21M

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