Vital Metals Ltd (VTMXF)

[douginil]

Vital Raises $45M to Complete Transition to REO Operations

HIGHLIGHTS

- Vital Metals has raised A$45 million in a targeted Share Placement at A$0.04 per share
- Cornerstone investor Lionhead Resources Fund LP has invested A$30m in the Placement which will include the nomination of two directors to the Vital Board
- Vital will use proceeds to fund:
- Finalisation of construction activities and undertake commissioning, ramp-up and operations at its Rare Earth Extraction Facility in Saskatoon, which will produce a rare earth carbonate product
- - Accelerated development of Tardiff deposit at Nechalacho, Canada, including mining studies
- - A strong balance sheet for ongoing working capital requirements
- Vital is executing a three-stage strategy to become the world’s first producer of commercial quantities of heavy and light rare earths.


Read more at:
https://mailchi.mp/9c871fb39826/june-2022-quarterly-activities-and-cash-flow-report-11818048?e=080567558f