Pan Asia Metals (ASX:PAM) continues to receive positive endorsement for lithium exploration out of Thailand and Chile as it awaits finalising a larger capital raising.
Managing Director Paul Lock says: “It’s a tough decision to elect voluntary suspension while we process discussions with strategic partners and investors, and we understand that there may be some frustration, but we have received a lot of positive support for this decision and for PAM’s business strategy.
In Thailand and Chile there has been positive endorsement for lithium exploration as both countries want to secure their supply chain and position in the global lithium market respectively. We believe this will flow through to positive outcomes for PAM.”
The battery and critical minerals explorer and developer has today (28 March 2024) raised some interim funding in the form of a convertible note.
The convertible notes have a conversion price of $0.15 per share, representing a 6% discount from the last close price of $0.16.
Pan Asia Metals is a battery materials-focused company with lithium projects in Southeast Asia and South America, alongside agreements with key battery and chemical producers in the Asa region to produce advanced battery chemicals.
Write to Aaliyah Rogan at Mining.com.au
Images: Pan Asia Metals
