FinTechFunding

Battery Minerals: Taps investors for $5.5M for Victorian exploration work

  • Junior explorer Battery Minerals (BAT) has tapped investors for $5.5M to kick off work at a new exploration license in Victoria
  • The company snapped up the Australian copper-gold project, which is near Stavely Minerals (SVY) Thursday’s Gossan project, in October
  • Now, Battery has also raised some funds to get exploration work at its new tenement underway
  • Battery coughed up $500,000 and 439 million BAT shares for full control of Gippsland and, subsequently
  • The battery is also launching a share purchase plan to raise another $1 million at the same price
  • Shares in the company broke out of a trading halt today and slumped towards the placement price, closing almost 11 percent lower at 2.5 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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