Australia's Future Battery Minerals rises on placement to boost lithium exploration

Ore Resources

27/03/2024 03:50

** Shares of Future Battery Minerals  FBM.AX  up 7.1% at
A$0.06, set for best day since March 7, if gains hold
    ** Mineral explorer says it raised A$6 million ($3.91
million) in new funds via equity placement at A$0.055/share
    ** The issue price is at a discount of 1.8% to FBM's last
closing price on March 22, as it resumes trading after being on
halt since Monday
    ** Proceeds to be used for Miriam Project acquisition and
aggressive exploration across the Kangaroo Hills Lithium Project
    ** Stock down 23.3% YTD, as of last close


($1 = 1.5337 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))