Patagonia Lithium raises funds for exploration

Patagonia Lithium (ASX:PL3) has successfully raised $1.343 million by issuing 14.9 million new shares at $0.09 each. The placement was strategically directed to Dr. José L Manzano, a notable figure in Argentinian mining. Funds will advance lithium exploration in Argentina.

Overview of Patagonia Lithium's strategic plans

Patagonia Lithium has raised $1.343 million for lithium exploration by issuing new shares at a 10% discount. The funds will support ongoing activities in Argentina, including completing a lithium brine drilling program and updating the Mineral Resource Estimate. Dr. José L Manzano's investment and the forthcoming board appointment of Pablo Tarantini highlight the importance of local expertise. The company is actively engaged in key lithium-rich regions with promising results from surface sampling and drilling. Patagonia Lithium's strategic moves aim to expand its resource base and enhance shareholder value.

Executive commentary on strategic placement

The strategic placement to Dr. José L Manzano marks a significant milestone for Patagonia Lithium. His appointment of Pablo Tarantini to our board enhances our local expertise in Argentina, aligning perfectly with our exploration goals.