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Exploration|PROJECT|supply-chain|Drilling
Exploration|PROJECT|supply-chain|Drilling
exploration|project|supply chain|drilling

Essential raises exploration cash

4th August 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Essential Metals will raise A$5-million in a share placement to institutional and sophisticated investors to fund lithium exploration in Kalgoorlie.

The ASX-listed company on Wednesday said that it would issue 40-million shares at a price of 12.5c each under its existing placement capacity, meaning shareholder approval would not be required.

“This placement is a strong vote of confidence in our Pioneer Dome lithium project and our strategy to become a new force in the global lithium supply chain,” said Essential Metals MD Tim Spencer.

“We are delighted to welcome a number of new investment funds and family offices to the Essential Metals register through this placement, with the funds providing the company with a robust balance sheet to advance our lithium growth strategy.”

Funds will go towards additional drilling at Dome North, to follow up results from a current drilling programme, while also funding expanded exploration activities.

Edited by Creamer Media Reporter

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