- Technology Metals (TMT) is tapping investors for $10 million to fund exploration work at some of its core mining projects in Western Australia
- The junior explorer announced the capital raise today, with commitments for an $8 million placement already received from sophisticated and institutional investors
- The remaining $2 million will raised through a share purchase plan, which opens on Friday, November 27, and closes on Friday, December 11
- All new shares issued under the capital raise priced at 35 cents — a neat 17.7 per cent discount to TNT’s last closing price
- The new funding will go towards drilling work and pilot-scale test work at TMT’s emerging Yarrabubba iron-vanadium project in WA
- Some of the funds will also go toward environmental approvals for the company’s flagship Gabanthina vanadium project, also in WA
