FinTechFunding

Almonty Industries: Raises $2.12m to advance growth opportunities

Almonty Industries Raises $2.12m to advance growth opportunities

  • Almonty Industries (AII) successfully closes a $2.12 million private placement with its third-largest shareholder, Deutsche Rohstoff
  • The company issued over 2.4 million chess depository interests (CDIs) at 85 cents each
  • Funds from the placement will be used for general working capital prior to the drawdown of the KfW-IPEX Bank finance facility
  • The company is focused on rebuilding the Sangdong tungsten mine in South Korea, and to do so, is aiming to secure a US$75.1 million (A$104 million) loan from the German bank
  • On market close, AII shares are in the grey and trading at 90 cents each
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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