Metallica Minerals Raises fresh capital for Cape Flattery, QLD
- Metallica Minerals (MLM) is raising up to $9.6 million through a placement and entitlement offer
- The placement is set to raise $5.07 million and has received support from Sibelco Asia Pacific, as well as from existing shareholders Ilwella and SPARTA
- MetallicaMinerals is also launching a fully underwritten entitlement offer, with Sibelco, Ilwella and SPARTA each committing to taking up their full entitlements under the offer
- Metallica will use the money to develop its Cape Flattery project in Queensland, with work to include an upcoming definitive feasibility study
- MLM shares ended Wednesday’s session at 3.5 cents
