Pilbara Minerals raises capital to accelerate WA projects
JOHANNESBURG (miningweekly.com) – Strategic minerals company Pilbara Minerals has announced a A$6.47-million capital raising to fund the development of its lithium and tantalum project in Western Australia.
The ASX-listed company reported on Monday that it had received applications to raise a total of A$6.465-million from professional and sophisticated investors in two capital raising initiatives. An immediate placement of 17-million securities at A$0.045 a share would raise A$765 000 and a secured convertible note issue would raise A$5.7-million.
The funds raised from the issues would be used in the ongoing development of the Pilgangoora and Tabba Tabba projects. Pilbara Minerals said it intended ramping up development of the Pilgangoora project and would shortly be starting prefeasibility work, including conversion of the exploration licences to mining leases.
Discussions were also under way with potential offtake partners for Pilgangoora spodumene (lithium) and tantalum and a number of environmental, hydrology and engineering studies would be running concurrently with resource drilling for the remainder of this year.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















