By: Mining weekly

The placement comprises 166.67-million ordinary shares issued at A$0.003 a share, with European Lithium also receiving one free-attaching option for every two placement shares. The options are exercisable at A$0.008 and will expire on December 5, 2027.

The placement will be conducted under Moab’s existing placement capacity, with shares and options expected to be issued on March 4.

Proceeds from the placement will be directed towards advancing exploration at Manyoni, as well as for general working capital purposes.