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Armada Metals Limited (ASX:AMM)

ALERT: Price-sensitive ASX Announcement for AMM
Current share price for AMM : $0.010 0 (0%)+
Announcement
Release
30 Oct 2024 3:48PM
Price at Release
$0.010
Full Release
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Summary
Armada Metals Limited's Quarterly Report for the quarter ending September 2024 highlights significant developments including the acquisition of Midwest Lithium Limited, a change of company name to Rapid Lithium Limited, and a successful capital raising of A$1.35 million for exploration and acquisitions in the USA. The report emphasizes Armada's strategic shift towards becoming a diversified explorer for critical metals, with a focus on lithium projects in the USA while maintaining commitments to projects in Africa.
Key Points
  • Midwest Lithium Acquisition formalized through Share Purchase Agreement.
  • Change of company name to Rapid Lithium Limited approved by shareholders.
  • Completion of A$1.35m capital raising for exploration and tenement acquisition.
  • Exploration drilling to commence following Midwest Lithium transaction completion.
  • Armada aims to diversify as a critical metals explorer in the USA and Africa.
  • Impairment of Gabon assets recognized at A$11.5m during the quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.