SHARE PLACEMENT TO FUND PROJECTS RAISES $3 MILLION
The Board of Red Metal Limited has raised A$3 million from selected Australian institutions and professional investors. The proceeds of will primarily be used to advance targets towards drilling on several of the Company’s 100% owned projects.
This will include a 2D seismic trial over the advanced Maronan silver-lead project, magnetotelluric surveying for large copper-gold breccia systems on Corkwood and ground electromagnetic surveys on the new Pardoo nickel-copper project. The new funds will enable the Company to maintain its strong project generation capacity and also be used for general working capital purposes.Download this announcement >>