A number of explorers ended the week last Friday (17 October) with news of capital raises, including European Lithium’s (ASX:EUR) share transaction with a single US investor to raise US$50 million ($77.29 million).
The company will issue 3.03 million Critical Metals Corp (NASDAQ:CRML) shares valued at US$16.50 each.
European Lithium now holds 53.03 million shares in Critical Metals, which has also just completed a private placement to raise US$50 million.
Critical Metals is issuing 1.47 million shares at US$16.50 per share to fund development activities at the Tanbreez Rare Earth Project in Greenland.
European Lithium is a lithium, rare earth, precious and base metals explorer focused on developing projects in Austria, Ireland, Ukraine, and Australia.
Critical Metals is a mining development company focused on producing materials required for the global shift to electrification.
Andromeda Metals (ASX:ADN) has raised $13 million to push the Great White Project in South Australia towards a final investment decision.
The company will issue 742.9 million shares at $0.0175, representing a 9.8% discount to the 15-day volume weighted average price (VWAP) of $0.019.
Holders will be eligible to receive three free attaching options for every five shares subscribed in this placement, exercisable at $0.026 for a two-year period.
Bell Potter and Canaccord Genuity are acting as joint lead managers for this placement.
Proceeds raised will be directed towards early works, equipment procurement, and product marketing for the project and high-purity alumina.
The company will also run a share purchase plan to raise an additional $2.5 million, where applicants can subscribe for up to $30,000 worth of shares.
Andromeda Metals is a South Australia-based company focused on providing a sustainable supply of industrial metals.
Meanwhile, Hawk Resources (ASX:HWK) is raising $5 million to fund a drilling campaign at the Cactus Copper-Gold Project in Utah.
The company will issue 250 million shares at a price of $0.02 each over two tranches, delegating 67.73 million shares in tranche one to raise the initial $1.35 million, before the issue of another 182.27 million shares for the remaining $3.64 million, subject to shareholder approval.
Subscribers will also be eligible to receive one free attaching option for every two shares acquired in this placement.
Hawk directors contributed $70,000 to acquire 3.5 million of the total shares issued.
Cygnet Capital and Canaccord Genuity Australia acted as joint lead managers to this placement.
Along with drilling at Cactus, the company will use the proceeds raised to complete the acquisition of the Olympus Scandium Project in Western Australia, along with impending exploration costs to follow.
Hawk Resources is a critical minerals explorer focused on advancing its Cactus Project in Utah, US.
Livium (ASX:LIT) is raising $4.5 million through a placement to support the company’s growing lithium-ion battery recycling strategy.
The company will issue 360 million shares at $0.0125, representing a 15% discount to the five-day VWAP and 14% discount to the 15-day VWAP.
Holders will be eligible for one free-attaching option per every one share subscribed in this placement, exercisable at $0.02 before 28 April 2028.
Copeak acted as the lead manager to this placement, which is expected to settle shares and options on 22 October 2025.
Funds will be used to expand the company’s lithium-ion battery collections, as well as the relocation and consolidation of its Victoria-based facilities into a centralised processing facility.
Livium is dedicated to leading the clean energy transition by securing critical materials from sustainable material recovery.
Write to Maddison Elliott at Mining.com.au
Images: European Lithium, Andromeda Metals, Hawk Resources & Livium
