Metalsearch: Secures $1.6M to support ongoing projects
- Metalsearch (MSE) has secured a $1.657 million placement to support its ongoing projects
- 127.5 million fully paid ordinary shares will issued at 1.3 cents to sophisticated investors
- Funds will go towards commercialising a mineral processing technology developed by the University of Queensland
- Then the parties entered an agreement in May to collaborate on developing synthetic zeolites
- Metalsearch will also use the money to expand research opportunities and a marketability program for its Abercorn Project
- Company shares are up a healthy 16.7 per cent and are trading for 1.4 cents just before market close
