GreenTech Metals (ASX:GRE) has received firm commitments for $5.2 million via a placement to fund acquisition of the Munni Munni Platinum-Palladium-Copper-Nickel Project.
CPS Capital acted as the lead manager to the placement.
Completion of the equity raise satisfies a condition precedent for the acquisition of 70% of the Munni Munni Project with proceeds to be allocated to immediate work programs, including drilling 20 holes, and to enable a JORC (2012) compliant MRE in early 2026.
Non-executive Chairman Simon Kidston says the strong support received for the placement is a clear endorsement of the quality and potential of the Munni Munni Platinum-Palladium-Copper-Nickel Project.
“Growing global demand and tightening supply for PGEs further strengthens the strategic importance of the Munni Munni project, and we are delighted to welcome a number of new sophisticated and institutional investors to the register at this early stage,” Kidston says.
GreenTech also reports the appointment of Stefan Murphy as non-executive director.
Write to Adam Orlando at Mining.com.au
Images: iStock
