FireFlys Strategic Funding Boost

FireFly Metals Ltd (ASX: FFM) has successfully raised AU$52.2 million for fast-track expansion at its Green Bay project. This fundraising includes a mix of charity and traditional flow-through placements to Canadian investors, and a two-tranche institutional placement, with shares issued at an average of AU$0.64. The additional funds will enable the introduction of a third drilling rig at Green Bay, aiming for a swift increase in resource size.

Managing Director Steve Parsons highlighted the move as pivotal, set to significantly advance resource growth thanks to promising drilling outcomes. The company now holds sufficient funds for the next 18 months of expanded operations, aiming to leverage its exceptional copper asset's potential. The raise attracted leading institutions as new shareholders, alongside continued support from existing stakeholders, marking a significant stride in FireFly's journey to enhance its high-value copper project.

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