Pan Asia Metals raises interim funding

Pan Asia Metals (ASX:PAM) has raised A$250,000 through a Bridging Convertible Note. The funds will support ongoing projects, including the Rosario Copper Project in Chile. This move is part of PAM's strategy to secure more stable financial backing.

Overview of Pan Asia Metals' funding and project developments

Pan Asia Metals (ASX:PAM) has successfully raised A$250,000 via Bridging Convertible Notes, providing interim financial support for its projects, particularly the Rosario Copper Project in Chile. The notes yield 16% and are convertible into shares after six months. PAM is negotiating with equity investment firms to secure a larger funding facility to further its ambitions in battery and critical metals exploration. The company is focused on becoming a low-cost producer with minimal carbon impact, with projects strategically located in South-East Asia and South America. Upcoming exploration activities in Chile include geochemical analyses, rock chip sampling, and drilling, with results expected soon.

Executive insights on funding and projects

We are pleased to secure this interim funding as we continue our discussions for a larger financial facility. This will enable us to advance the Rosario Copper Project and position ourselves strategically in the battery metals market.