Motley Fool contributor Aaron Shaw 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.

Strategic Investment Details

MetalsTech Limited has entered into two binding Strategic Investment Agreements with private ultra-high net worth investors, raising a total of $3.3 million at an average issue price of 13.7 cents per share.

Use of Funds

The funds from the placement will be allocated towards completing the Pre-Feasibility Study on the Sturec Gold Project in Slovakia, strengthening the balance sheet, and supporting general working capital.

Project Advancement

A recently completed Scoping Study update demonstrated a robust underground gold mining operation at Sturec, delivering an NPV of US$768 million and an IRR of 162% on a pre-tax basis based on a conservative gold price of US$2,500 per ounce. The Sturec project presents a significant “mine ready” opportunity with exploration upside and growth potential from the existing JORC (2012) Mineral Resource.

Executive Comments

Executive Director Mr Gino D’Anna stated, “The Sturec Gold Mine represents a unique investment opportunity combining a scalable long-term production operation together with significant exploration upside from the regional exploration targets as well as extension drilling underneath the current resource. With the recent appointment of Mining One, the Company remains focused on delivering the PFS and unlocking the next value accretive milestone. The ability of the Company to secure strategic funding at a premium to our share price underpins the belief that Sturec remains undervalued. We remain in a high gold price environment with gold remaining above US$3,000 per ounce. It is an exciting time for MetalsTech and we look forward to completing the PFS as we set our sights on the monetising the Sturec Gold Mine.”

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Motley Fool contributor ..... 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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