TMT raises $6M for Gabanintha DFS

TECHNOLOGY Metals Australia has completed a placement to raise A$6 million to advance the definitive feasibility study on the company’s wholly-owned Gabanintha vanadium project in Western Australia.

TMT raises $6M for Gabanintha DFS TMT raises $6M for Gabanintha DFS TMT raises $6M for Gabanintha DFS TMT raises $6M for Gabanintha DFS TMT raises $6M for Gabanintha DFS
The 50c placement was at a 12% discount to TMT's 15-day volume weighted average price, and will see the issue of some 12 million shares to a number of new domestic and international institutions and strategic high net worth investors.
 
Managing director Ian Prentice said he was pleased with the calibre of investors, who he said had "capacity to add value and contribute to the company" as it sought to develop a high-grade, large scale vanadium project into a tightening vanadium market
 
Vanadium prices have doubled to around $20 per pound over the last 12 months.
 
The raising follows a promising prefeasibility study earlier this year that estimated a development would cost A$380 million with ant...

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