Coolabah Metals expands focus on fluorine demand

Coolabah Metals Limited (ASX: $CBH) is expanding its exposure to battery minerals with a heightened focus on the increasing demand for fluorine. The company has secured a grant for the Mundi Mundi Project, a Group 2 (non-metallic minerals) exploration license 40km north-west of Broken Hill, NSW. This project covers two historic mines previously exploited for fluorite, the ore mineral of fluorine.

Executive Commentary on Fluorine Market and Capital Raising

The Company is pleased to announce that the application for group 2 minerals in the Broken Hill region of NSW has been approved. In conjunction with key stakeholders, the Company has instigated first mover advantage in the Australian fluorite market, securing a significant position on the Broken Hill block which has significant potential for fluorite production. The Company believes the fluorite market is primed for growth and this is the perfect time to position itself within this growing sector. Exciting times ahead for the renewable sector, with alternative energy storage technologies evolving rapidly, opening new resource possibilities including fluorite as an emerging staple within the battery manufacturing industry. Coolabah has continued with an aggressive project acquisition approach. Coolabah will continue to pursue opportunities in the Broken Hill region.

Summary of Coolabah Metals Announcement

Coolabah Metals Limited (ASX: $CBH) is expanding its focus on battery minerals with a grant for the Mundi Mundi Project, targeting fluorite production. The company aims to capitalize on the increasing demand for fluorine, a fundamental component of electrolytes in lithium-ion batteries. Additionally, Coolabah has received firm commitments for a placement of approximately $715,500 and is undertaking a fully underwritten non-renounceable rights issue to raise an additional $1,788,750. The funds raised will be used towards the Mundi Mundi Fluorite Project, existing projects, future acquisitions, working capital, and expenses of the Placement and Rights Issue. The company's aggressive project acquisition approach and pursuit of opportunities in the Broken Hill region reflect its commitment to capitalizing on the growing demand for battery minerals and positioning itself within the renewable energy sector.