Talga Group Ltd. (AU:TLG) has released an update.
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Talga Group Ltd. has announced the successful completion of an oversubscribed Prospectus Offer which, along with a recent institutional placement, has raised a total of A$18.5 million for the company. The funds will be used to develop their Vittangi Anode Project, expansion studies, and their joint venture with SQM in lithium, as well as for general working capital. Due to the oversubscription, the company will be issuing new shares and has initiated a scale-back and refund process for excess applications.
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