Highfield Resources completes institutional placement

Highfield Resources Limited (ASX:HFR) has successfully completed the unconditional component of its institutional placement, raising US$6 million (equivalent to A$8.9 million) with support from new and existing institutional investors. The placement closed on Wednesday, 25 September 2024, and the new shares are expected to be settled on Monday, 30 September 2024.

CEO's perspective on the institutional placement

Highfield's CEO and Managing Director, Ignacio Salazar, expressed his satisfaction with the institutional placement, stating, 'Highfield is pleased to have received commitments for US$11m in the institutional placement which saw the EMR Subscriber and a combination of new and existing institutional investors participate. Highfield is looking forward to offering eligible shareholders the opportunity to participate in its share purchase plan which opens on 3 October 2024.'

Outlook for Highfield Resources

Highfield Resources has successfully completed the unconditional component of its institutional placement, demonstrating strong support from both new and existing institutional investors. The company is set to proceed with the Conditional Placement and share purchase plan (SPP) as disclosed in its previous announcement. Highfield's CEO, Ignacio Salazar, highlighted the company's anticipation of offering eligible shareholders the opportunity to participate in its share purchase plan, indicating a positive outlook for the company's future. With the completion of this placement, Highfield is well-positioned to advance its flagship Muga Project in Spain, which has received all necessary permits and key licenses, signaling progress towards the commencement of full-scale construction.