Elementos Limited (ASX: $ELT) raises $3m for tin projects

Elementos Limited (ASX: $ELT) has received firm commitments to raise A$3.0 million via a Placement and pre-commitment from major shareholder Andy Greig. The funds will be used to advance the Oropesa Tin Project, secure the Robledallano tin smelter 5-yr option, progress project permitting, complete the current Cleveland Tin project exploration activities, and settle outstanding debt. The company is undertaking a non-renounceable entitlement offer to eligible shareholders following the receipt of firm commitments of $3m via private placement and pre-commitments in Rights Issue.

Executive Commentary on Fundraising and Project Development

The funds raised through the private placement and entitlement offer demonstrate strong confidence in Elementos' assets and development plans. This will enable us to achieve critical milestones in the development of our tin projects, including advancing the Definitive Feasibility Study for the Oropesa Tin Project, declaring a maiden JORC Ore Reserve, and completing exploration activities at the Cleveland Tin Project. We are committed to a responsible and sustainable approach to mining, rehabilitation, and community involvement, and these funds will support our efforts in this direction.

Summary of Elementos' Fundraising and Project Development

Elementos Limited (ASX: $ELT) has successfully raised $3m through a private placement and entitlement offer. The funds will be utilized to advance the Oropesa Tin Project, secure the Robledallano tin smelter 5-yr option, progress project permitting, complete the current Cleveland Tin project exploration activities, and settle outstanding debt. The company aims to bridge the forecast significant tin supply shortfall in the coming years and is committed to a responsible and sustainable approach to mining, rehabilitation, and community involvement.