Sky Metals secures funding

Sky Metals (ASX:SKY) has successfully raised $6 million to advance its Tallebung Tin Project in New South Wales. The capital will support drilling, sampling, and studies aimed at mining feasibility.

Overview of strategic funding initiative

Sky Metals has raised $6 million through a share placement, issuing approximately 120 million shares at $0.05 each. The capital supports the Tallebung Tin Project's resource expansion and feasibility studies. Existing shareholders and new investors, including resource funds, showed strong participation. Directors committed $0.55 million, awaiting shareholder approval. The project aims to meet growing tin demand in technology sectors. Strategic funding positions Sky Metals for future development and potential production.

Executive commentary on capital raising

We are pleased with the strong support from our existing and new investors, which validates the potential of the Tallebung Tin Project. These funds will significantly advance our exploration and development activities, bringing us closer to a mining feasibility study.