Global Energy Metals Corp (TSX-V:GEMC) has upsized a recently announced fundraising to $650,000 from $500,000 due to strong investor demand.
In conversation with Proactive, CEO Mitchell Smith highlighted the company’s strong support from shareholders and insiders, which he said was critical in the challenging junior mining sector.
He added that the company is actively engaged with its portfolio companies as it works to build investment exposure to the battery supply chain, with a focus on key critical minerals.
Proactive: You've raised your non-brokered offering to $650,000. That's up from $500,000 due to strong demand from investors.
Mitchell Smith: Yeah. You know, we've had a real good show of support from existing shareholders and some of our larger shareholders in the company. Clearly, it's a struggle out there right now in the junior mining space to raise funds, so having this strong support from our shareholders is excellent. And I certainly welcome others to join investing alongside me and other directors and insiders of the company to see the company move forward.
It must show a lot of confidence in your projects as well as your portfolio companies. So, what's the fund's target for that?
Battery metals are something that's a top story. There's been a lot of emphasis on the disconnect between supply and demand and the need for sourcing critical minerals in safe, mining-friendly jurisdictions. That's certainly a top agenda for Global Energy Metals. We've taken a partnered approach and found strong, well-funded jurisdictions and skilled partners to advance some of the projects we hold in our portfolio, and we are looking to do the same with other projects we hold directly as well.
Looking at one of the projects, you had recent news from the Millennium project and your initial observations from recent drilling there. Are you encouraged?
Certainly. This is a great new discovery of graphite at a project that has predominantly been explored for copper, cobalt, and gold. But it's very much in line with other projects in the Queensland, Mount Isa area that have graphite. This new discovery by our partner, Metal Bank, is something we're very excited about, and we look forward to seeing them continue exploration and development of that project, both on the copper, cobalt, and gold side, and now with the graphite discovery as well.
You mentioned your positions in other portfolio companies. How active are they at the moment?
Very active, actually. We just issued a news release not so long ago demonstrating the exposure that Global Energy shareholders get to these portfolio companies and the exploration work being done across many fronts. It's very commodity-diverse, and we are excited to be a shareholder in these companies. Given the value held there, we think it's a significant opportunity for our shareholders as well.
So, what's next for Global Energy Metals?
There are a few things we are working on. It's really about building that investment exposure to the battery supply chain and focusing on key critical minerals in growing demand. So, stay tuned. There are a lot of exciting developments for the company. Given today's valuation, it provides shareholders a real opportunity for growth appreciation over time.
Quotes have been edited for clarity and style