Buxton Resources announces successful placement

Buxton Resources (ASX:BUX) has successfully completed a strategic placement, raising approximately $0.6 million. This was achieved through issuing around 9 million new shares priced at $0.065 each. The funds will be used primarily for the Graphite Bull Mineral Resource upgrade and general working capital.

Overview and future outlook for Buxton Resources

Buxton Resources has raised approximately $0.6 million through a strategic placement, signaling strong support from shareholders and a significant investment from a battery metals executive. The funds are earmarked for updating the Graphite Bull Mineral Resource and supporting future exploration activities, including downstream battery producer engagement. This initiative highlights Buxton's commitment to advancing its projects and generating news flow, underpinning its strategic objectives in the battery metals sector.

CEO comments on strategic placement success

We are pleased with the strong support from our existing shareholders and the new cornerstone investor. The capital raised will allow us to advance our Graphite Bull project and other exploration activities, generating potential value for our shareholders.