Admiralty Resources NL completes private placement

Admiralty Resources NL (ASX: $ADY) has successfully completed a private placement, raising $733,831.85 at $0.0054 per share. The funds will be utilized for working capital purposes as the Mariposa Iron Ore Project prepares to enter the pre-production phase. The placement issue price per share represents an 18.7% discount to the Company's 15-day VWAP at the close of trading on 27 March 2024.

Executive Commentary on Private Placement Completion

The completion of the private placement marks a significant milestone for Admiralty Resources NL. The funds raised will bolster our working capital as we progress towards the pre-production phase of the Mariposa Iron Ore Project. We are pleased with the support from both new and existing investors, and we remain focused on advancing our flagship project towards production, with the aim of increasing production capacity from 2025.

Summary of Admiralty Resources NL's Private Placement Completion

Admiralty Resources NL (ASX: $ADY) has successfully completed a private placement, raising $733,831.85 at $0.0054 per share. The funds will be utilized for working capital purposes as the Mariposa Iron Ore Project prepares to enter the pre-production phase. The completion of this placement demonstrates the Company's commitment to advancing its flagship project towards production, with the goal of increasing production capacity from 2025. Admiralty Resources NL continues to focus on its mineral interests in Chile and Australia, with the Mariposa project showing promising mineral resources and favorable access to infrastructure. The Company also holds exploration projects in the Harper South district and other areas in Chile, along with a stake in the Pyke Hill Project in Western Australia.