Adriatic Metals Plc (GB:ADT1) has released an update.
Adriatic Metals Plc announces a significant equity raising of approximately US$50.0 million through the placement of around 18.3 million CDIs at a discounted offer price, aiming to strengthen the balance sheet during the final ramp-up phase of its Vares Operation. The proceeds will also cover a termination payment to a former mining contractor, with major shareholder Orion signaling continued support despite a concurrent sell-down of their shares. The company highlights the Vares Operation’s progress and its potential to capitalize on favorable market conditions for precious and base metals.
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