Strategic Minerals PLC (AIM:SML) shares climbed on Thursday as it raised about £4.7 million, to press harder on development of its Redmoor tungsten-tin-copper project in Cornwall, with the cash coming from a direct subscription led by what it described as a prominent international investor.
The AIM-listed group is issuing 134.3 million new shares at 3.5p each.
Strategic Minerals said the net proceeds will significantly accelerate Redmoor at a time when critical minerals projects are drawing greater attention.