Askari Metals, Altech Batteries, Ionic Rare Earths and Krakatoa Resources provided important corporate updates this week in a series of developments across mining, battery technology and critical minerals.
Askari Metals announced it has agreed to sell its Burracoppin Gold Project in Western Australia to Forrestania Resources for 0.70 million Australian dollars in cash and shares. The company said the sale will allow it to focus on its African gold, copper and rare-metals portfolio, which includes the Nejo Project in Ethiopia and the Uis Rare Metals Project in Namibia.
Altech Batteries reported progress on its CERENERGY® cell and ABS60 battery pack prototypes, which have achieved more than 650 cycles with no capacity loss, near-perfect efficiency and strong stability under extreme testing. “The company is now preparing for commercial-scale rollout,” Altech highlighted.
Ionic Rare Earths outlined a 7.00 million Australian dollar capital raise through a rights issue and placement. The company said the proceeds will support its Belfast magnet recycling project, the Viridion joint venture in Brazil, and its expansion into the United States.
Krakatoa Resources confirmed it has raised 3.10 million Australian dollars in a two-tranche placement. The company told investors the funding will fast-track drilling at its Zopkhito Antimony-Gold Project in Georgia, including up to 10,000 metres of maiden drilling, in-adit work on high-grade antimony veins and gold zones, and the conversion of a large foreign resource into a JORC-compliant estimate.
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