Almonty Industries Raises $2.12m to advance growth opportunities
- Almonty Industries (AII) successfully closes a $2.12 million private placement with its third-largest shareholder, Deutsche Rohstoff
- The company issued over 2.4 million chess depository interests (CDIs) at 85 cents each
- Funds from the placement will be used for general working capital prior to the drawdown of the KfW-IPEX Bank finance facility
- The company is focused on rebuilding the Sangdong tungsten mine in South Korea, and to do so, is aiming to secure a US$75.1 million (A$104 million) loan from the German bank
- On market close, AII shares are in the grey and trading at 90 cents each
