Wyloo Metals has invested an additional A$ 7.2 million into a capital raise by Mincor Resources (“Mincor”). The investment increases Wyloo Metal’s holdings in the Company to 6.17%.
Wyloo Metals investment forms part of a landmark A$ 35 million capital raising, the proceeds from which will be used to:
- Commence early capital works at Cassini and Long-Durkin ahead of the expected completion of the Definitive Feasibility Study (“DFS”) in the March 2020 quarter as part of the Company’s Nickel Restart Strategy
- Underpin an $8.0m exploration and Resource extension drilling programs in CY2020; and
- Put the Company in a strong financial position as it seeks to commence pre-production activities, award key contracts and secure project finance.
Wyloo Metals is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.