https://www.miningweekly.com
Exploration|PROJECT|Resources|Drilling
Exploration|PROJECT|Resources|Drilling
exploration|project|resources|drilling

A$35m capital injection for Latin Resources’ Brazilian lithium plans

23rd October 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

ASX-listed Latin Resources has received firm commitment to raise A$35-million, providing the company with a significant capital injection to expand and accelerate its exploration programme at the Salinas lithium project, in Brazil.

The additional capital will also help fund Geotech and hydrogeology works to support Salinas’ definitive feasibility study, which is expected to be announced in the first half of 2024.

The completion of the placement to institutional, sophisticated and professional investors provides Latin with “significant headroom to accelerate drilling efforts into 2024”, said MD Chris Gale on Monday.

Ten drill rigs were currently mobilised.

“The new funds will enable the company to continue to grow the Salinas resource to become a tier-one lithium global project,” added Gale.

Under the placement, the company will issue 140-million new shares at A$0.25 each.

Edited by Creamer Media Reporter

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Menar MD Vuslat Bayoğlu
Menar advancing on the manganese front
21st May 2024 By: Martin Creamer
On-The-Air (17/05/2024)
On-The-Air (17/05/2024)
17th May 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.176 0.212s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: