European Metals Pleased With AUD7.1 Million Raise To Further Cinovec
Wed, 3rd Feb 2021 09:49
(Alliance News) -Â European Metals Holdings Ltd on Wednesday said it has received firm commitments for a private placement worth AUD7.1 million, equivalent to around GBP4 million.
Shares in European Metals were up 13% at 66.60 pence in London on Wednesday.
The mineral exploration and development company has received commitments for a placement of 6.5 million Chess Depositary Interests at an issue price of AUD1.10 each. The placement was well-supported, European Metals said, especially by Thematica Future Mobility, a Luxembourg-based green energy fund.
The proceeds of the placement will assist in the further development of the Cinovec Lithium project and further general working capital.