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Australian Mines Limited (ASX:AUZ)
ALERT: Price-sensitive ASX Announcement for AUZ
Current share price for AUZ : $0.027 -0.002 (-6.90%)+
Announcement
Release
4 May 2026 9:39AM
Price at Release
$0.029
Full Release
Summary
Australian Mines Limited has announced a strategic placement led by Tribeca Investment Partners, raising approximately $3.0 million to fast-track the Flemington Scandium Project to a Pre-Feasibility Study. This placement provides a significant premium to recent trading prices, reflecting strong investor confidence. The funds will advance technical, environmental, and approval processes necessary for future project development. Additionally, funds will support drilling at the Boa Vista Gold Project in Brazil, development of energy storage technology, and general corporate costs. This initiative underscores Australian Mines' commitment to progressing its projects toward substantial development milestones.
Key Points
- Strategic placement by Tribeca Investment Partners for AUZ
- Flemington Project fast-tracked to Pre-Feasibility Study
- AUZ raises $3.0 million through strategic placement
- Flemington Scandium Project features low-risk mining
- Advancement of technical, environmental, and approvals workstreams
- Proceeds to also fund Boa Vista Gold Project drilling
- Advancement of energy storage metal hydride technology
- Issuance of new shares at a premium price
- Placement Options exercisable until 2027
- Focus on securing permits and approvals for future development
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.
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