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Power Minerals Limited (ASX:PNN)

ALERT: Price-sensitive ASX Announcement for PNN
Current share price for PNN : $0.125 -0.02 (-13.79%)+
Announcement
Release
18 Jun 2026 9:21AM
Price at Release
$0.145
Full Release
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Summary
Power Minerals Limited has secured a strategic investment of A$1.7 million from an international resources investment fund. This investment, facilitated through a Share Subscription Agreement, involves the issuance of 11,724,138 fully paid ordinary shares at a price of A$0.145 each, matching the company's closing share price on 17 June 2026. Additionally, investors will receive free PNNOA options. The funds will be used to advance the Morro do Ferro REE Project in Brazil, which is currently undergoing diamond drilling and metallurgy testing. This investment is seen as validation of the company's strategic direction and enhances its financial capabilities to accelerate project developments.
Key Points
  • Power Minerals secures A$1.7 million investment.
  • Investment from a renowned international resources fund.
  • Shares priced at A$0.145, matching market price.
  • Funds to advance Morro do Ferro REE Project in Brazil.
  • Investor receives free attaching PNNOA options.
  • Placement completed under ASX Listing Rule 7.1.
  • Investment validates Power Minerals' strategy.
  • Strengthening of financial position for project advancement.
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.