Metallium (ASX:MTM) has raised $75 million from its capital raising that was cornerstoned by US-based institutional investors to advance the company’s reach of US operations and commercialisation.
The company issued shares at $0.84 per share, representing an 8.7% discount to the last closing price and 8.8% discount to the five-day volume weighted average price.
Petra Capital acted as the lead manager and bookrunner for this placement.
Funding will be deployed to the commissioning and expansion of processing capacity, securing feedstock supply and working capital, workforce growth, as well as the development and deployment of Metallium’s Flash Joule Heating technology.
CEO Michael Walshe says the capital raise reflects “strong institutional support” for the company’s US-focused strategy.
“With commissioning underway at Gator Point, a secured Glencore feedstock agreement, several collaborations and testing across red mud, gallium, and rare earth elements and our American depositary receipts trading on OTCQX, we are seeing increasing interest from US investors seeking exposure to critical metals processing and enabling technologies,” Walshe says.
“This capital provides further support for the company to fast track its development and commercial activities as we scale operations and progress toward our planned Nasdaq listing in Q3 2026.”
Metallium is focused on mineral exploration and metal recovery technology development with assets in Australia, Canada, and the US.
Write to Maddison Elliott at Mining.com.au
Images: Metallium
