Metals One PLC (AIM:MET1) has increased its stake in Evolution Energy Minerals to 16.9% after taking its full allocation in an oversubscribed rights issue.
It invested A$530,000, taking up 52.99 million new shares.
Evolution raised A$1.45 million in the rights issue, and a further A$300,000 through a placing.
“Chilalo represents one of the few advanced graphite projects positioned to supply ex-China markets, underpinned by strong ESG credentials, government support in Tanzania, and significant exploration upside," said chief executive Jonathan Owen.