Subiaco-based tungsten company Vital Metals Ltd has raised $4.4 million to fund a feasibility study of its Watershed Tungsten project, through a share placement to Melbourne Capital Ltd and its clients.
Subiaco-based tungsten company Vital Metals Ltd has raised $4.4 million to fund a feasibility study of its Watershed Tungsten project, through a share placement to Melbourne Capital Ltd and its clients.
The full text of a company announcement is pasted below
Vital Metals Ltd is pleased to announce that the Company has raised $4,410,000 (before costs) through a share placement of 10,500,000 fully paid ordinary shares at a price of 42 cents each, to institutional and sophisticated clients of the lead manager for the issue, Melbourne Capital Limited. The placement is pursuant to ASX Listing Rule 7.1.
Funds from the placement will be used to further progress the Feasibility Study of the Company's flagship Watershed Tungsten Project and for general working capital purposes. The Board is pleased with the strong support shown by the investment community for this capital raising.
Subscribe today for award-winning, unbiased and trusted journalism