Trigg Minerals (ASX:TMG) Raises $5 Million from Strategic Investors
Funds Raised for Project Advancement
Trigg Minerals Limited (ASX: TMG) has successfully secured $5 million through a Placement, driven by strong backing from institutional and sophisticated investors. This Placement involves the issuance of 151,515,152 fully paid ordinary shares at an issue price of $0.033 per share. The overwhelming demand for this Placement indicates high investor confidence in Trigg’s strategic direction.
Strategic Projects and Future Outlook
The capital raised will primarily focus on advancing exploration and drilling programs at the Achilles, Taylors Arm, and Spartan Antimony projects. Additionally, funds will be allocated for potential acquisition due diligence and general working capital purposes. Tim Morrison, Executive Chairman of Trigg Minerals, expressed his excitement about the support from investors, stating, “We are thrilled with the overwhelming response… This capital injection gives us a strong financial platform to continue delivering on our plans.” Antimony prices have surged over the past year, now sitting at approximately US$38,000 per metric ton, which further enhances the potential of Trigg’s projects.
Placement Details and Future Plans
The Placement, set to settle on 13 December 2024 with shares issued on 16 December 2024, was conducted under the company’s existing ASX Listing Rules. The shares will rank equally with existing shares. GBA Capital Pty Ltd acted as lead manager for the Placement.
Impact on Shareholder Value
With these developments, Trigg Minerals aims to capitalise on the momentum within the antimony market and enhance shareholder value through strategic project advancements and potential new opportunities.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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