OD6 Metals Ltd (ASX:OD6)’s share purchase plan, announced on March 26, which offers the opportunity for investors to acquire shares for $0.071 per share, will close shortly.
The SPP, which will close at 5:00pm AWST on Tuesday April 23, will raise funds to progress the flagship Splinter Rock Project.
Read more: OD6 Metals testing improves rare earth grades; reduces acid consumption and costs
Recent placement
This follows the company’s recent equity placement to institutional and sophisticated investors, led by Euroz Hartleys Ltd, which raised A$1.5 million and offered shares at the same price.
Managing director Brett Hazelden said: “We would like to thank our loyal shareholders for their continued and ongoing support of the company.
“The Splinter Rock Project has continued to exceed our expectations since we listed on the ASX, just under two years ago, and we have a number of key milestones planned for 2024.
Resource estimate to come
“This includes a mineral resource estimate (MRE) update later this quarter, plus ongoing metallurgical work being conducted at ANSTO with the aim to produce a mixed rare earth carbonate (MREC), that will form the basis of a scoping study scheduled for completion by the end of the calendar year.
“We are pleased to be able to provide our eligible shareholders with the opportunity to participate in the current SPP on the same terms as the recent placement and encourage eligible shareholders who are interested to participate.”