Azure Minerals Ltd (ASX:AZS, OTC:AZRMF) MD Tony Rovira speaks with Proactive after announcing the company has received firm commitments to raise $120 million as it looks to accelerate exploration and resource drilling at the high-grade Andover Lithium Project in Western Australias West Pilbara region. In addition to the placement, Azure is seeking to raise $10 million in a share placement plan to existing shareholders, who can apply for up to $30,000 worth of new ordinary shares $2.40 per share the same price as the new shares to be issued under the placement. Rovira says the company is in a strong position to accelerate exploration and resource drilling at the globally significant Andover discovery, as it moves toward a maiden lithium mineral resource targeted in Q1 2024.
Rovira said: The strong support shown from both new and existing institutional investors in this placement is testament to Andover as one of the best lithium exploration projects globally.
"We look forward to further delineating the potential scale of this exciting discovery.
"On behalf of the Azure Board and management, I wish a warm welcome to our new shareholders and thank all our existing shareholders for their long-standing support.
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Azure Minerals Ltd
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