Technology Metals Australia secures $6 million for vanadium project
Date: Sep 28, 2018
he company is leveraged to a vanadium price up 4x over the past two years.
Technology Metals Australia Ltd (ASX:TMT) has secured $6 million in funding through the placement of 12 million shares priced at 50 cents to sophisticated and institutional investors.
Funds raised will be used to advance the definitive feasibility study (DFS) on the company’s 100% owned Gabanintha Vanadium Project and for additional exploration activities.
Technology Metals’ managing director Ian Prentice said: “This is a particularly pleasing outcome for the company with the calibre of institutional and high net worth investors that have joined the register having the capacity to add value and contribute to the company as we progress the development of one of the highest grade, best quality, large scale vanadium projects in the World in a period of tightening vanadium supplies.”
