Terra Metals CEO and managing director Thomas Line talked with Proactive about the company's successful $4 million capital raise from strategic investors, which is set to accelerate the Dante Project in Western Australia.
Line highlighted that the funding isn't just significant due to its amount but also because of the strategic nature of the investors involved. The capital raising was backed by strategic investors Golden Energy and Resources Pte Ltd (GEAR) and Matthew Latimore, Founder and President of M Resources Pty Ltd, alongside existing major shareholder Tribeca Investment Partners.
The capital will be directed primarily toward extensive exploration and drilling activities. Line confirmed that only 10% of the project's strike has been drilled so far, with six or seven other reefs yet to be explored. The funds will also support a maiden resource estimate currently underway, aided by South African consultants, who are conducting due diligence during a site visit in mid-June.
Line noted that new investors will be joining them during this site visit, underscoring the growing interest and momentum behind the project.
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