Energy Transition Minerals Ltd (ASX: ETM) has raised AU$9.35 million through a single-tranche institutional share placement at AU$0.068 per share, backed by global investor support. The placement, introducing new international institutional investors to the company’s share register, will fund the advancement of the Kvanefjeld Rare Earths Project in Greenland. Key initiatives include expanding local operations, updating resource parameters, exploring acquisition opportunities, and providing reserves for arbitration and working capital.
The Kvanefjeld Project, designed to meet high environmental and social standards, is a cornerstone for Greenland’s economic development and a significant contributor to the global energy transition. With a pro forma cash position of AU$20 million upon completion, Energy Transition Minerals aims to responsibly develop this transformative project, creating substantial economic benefits for local communities while aligning with sustainable energy goals.
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