Asian Battery Metals Raises AU$3.969 million

Asian Battery Metals PLC (ASX: AZ9) has secured firm commitments for a placement of approximately 88.2 million fully paid Chess Depository Interests at an issue price of AU$0.045 per CDI, raising AU$3.969 million before costs. The funds will expand the 2025 Phase 3 Drilling Program at the Oval Cu-Ni Project and further evaluate and explore the Copper Ridge Cu-Au Project.

Additionally, proceeds will cover transaction costs and general corporate expenses. The placement was heavily oversubscribed, reflecting strong demand from existing and new investors, including institutions. Managing Director Gan-Ochir Zunduisuren expressed gratitude to investors, emphasizing that the capital raising will support the company’s ongoing exploration momentum. The company is now fully funded to advance its key projects, strengthening its position in the battery metals sector. This funding ensures continued progress in exploration, resource development, and corporate growth initiatives.

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