West Cobar Metals raises capital

West Cobar Metals (ASX:WC1) has announced the successful placement of 14,583,333 fully paid ordinary shares to raise $175,000 before costs. The shares are priced at $0.012 each, a 25% discount to the last 10 trading days' VWAP. The funds will be used for working capital and evaluating new project opportunities.

Strategic capital placement and future outlook

West Cobar Metals (ASX:WC1) has secured $175,000 through a share placement supported by professional and sophisticated investors, reflecting confidence in the company's potential. The funds will support working capital and the assessment of new project opportunities. Managed by Xcel Capital Pty Ltd, the placement involves a 25% discount on share price, aligning with the company's strategy to enhance its asset base with minimal dilution. The company remains focused on its portfolio, which is rich in critical minerals, and continues to explore new projects to boost shareholder value.

Management's strategic focus

The company is focused on aggressive cost-cutting and capital preservation in a challenging financial environment. We aim to maintain minimal dilution while pursuing growth opportunities. West Cobar Metals is focused on evaluating new value-accretive projects to enhance their asset base.