Lincoln Minerals completes top-up placement and secures additional funding

Lincoln Minerals Limited (ASX: $LML) has successfully completed a top-up placement, raising an additional $1.0 million from sophisticated and professional investors. This brings the total capital commitments from the recent Share Purchase Plan (SPP) and the top-up placement to $2.5 million. The placement also includes a subscription of $70,000 from Non-Executive Director and major shareholder Julian Babarczy, further endorsing Lincoln's strategy.

Executive Commentary on Capital Raising Program

The receipt of such strong commitments for Lincoln's SPP and the top-up placement places the Company in a strong position to execute on the rapid project advancement at the Kookaburra Graphite Project as well as the downstream BAM strategy. We are also making solid progress on our Green Iron and Uranium projects with updates on each expected soon. Being part of the Critical Minerals Australian trade delegation has made me feel very positive on the underlying fundamentals of the graphite market, especially for ex-China development projects, with an increased urgency from supply chain participants and end users, suggesting an increase in graphite prices could be imminent.

Summary of Capital Raising and Future Plans

Lincoln Minerals has successfully secured additional funding through a top-up placement, bringing the total capital commitments to $2.5 million. The completion of this capital raising program will enable Lincoln to rapidly progress the Kookaburra Graphite Project pre-feasibility study and related project workstreams, including the downstream BAM Scoping Study. Furthermore, the company aims to develop relationships with strategic investors and offtake groups for its multiple Eyre Peninsula projects. The CEO, Jonathon Trewartha, expressed confidence in the company's position to execute on project advancement and highlighted the positive outlook for the graphite market, especially for ex-China development projects. Lincoln Minerals is also making progress on its Green Iron and Uranium projects, with updates expected soon.