Fundraising for Accelerating Iron and Manganese Exploration

Black Canyon Limited (ASX: BCA) has completed a placement, raising AU$2.5 million through a two-tranche issue of 41.7 million fully paid ordinary shares at AU$ 0.06 per share. The placement received strong support from existing investors and new institutional investors who were committed to Black Canyon’s vision for manganese and high-grade iron exploration at Wandanya.

Managing Director Brendan Cummins emphasized that these funds will be used to drive discovery drilling programs, including tests for high-grade iron at Wandanya and to advance metallurgical testing for manganese concentrates. This testing aims to assess the downstream suitability for HPMSM processing. With robust institutional backing, Black Canyon is well-funded as it enters 2025. This will allow for expanded exploration efforts in the East Pilbara and the opportunity to unlock further value from its promising assets.

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