- Vital Metals (VML) has received firm commitments to undertake an $8 million share placement
- Approximately 400 million new shares will also issued to institutional, sophisticated and professional investors at two cents each
- Vital Metals will primarily use the funds to work towards processing operations in Q2 2021
- This includes the purchase of an ore sorter, undertaking sampling and metallurgical testwork, and general working capital
- Shares expected to settle on October 1, with quotation on October 2
- Vital Metals is steady on the market and shares are trading for 2.5 cents
