- Mali Lithium (MLL) is hoping to raise up to $70 million through a two-tranche placement and share purchase plan
- Under the first tranche, a total of $7.6 million will raised through the issue of 46 million ordinary shares at 16 cents
- Around 352.4 million ordinary shares will issued under the second tranche to raise $56.4 million — however, this is subject to shareholder approval
- Under the share purchase plan, Mali plans to raise $6 million at the same issue price as the placement
- The funds will go towards the recently announced acquisition of an 80 per cent interest in the Morila Gold Mine in Mali
- Company shares have dropped 11.5 per cent and are trading for 17.3 cents
