21 Nov 2019

Wyloo Metals invests a further A$7.2 million in Mincor Resources

Wyloo Metals has invested an additional AUD$7.2 million into a capital raising venture by Mincor Resources.

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close-up of nickel laterite ore showing oxidisation
Photo Credit: Gillianne Tedder via Getty Images.

Wyloo Metals has invested an additional A$ 7.2 million into a capital raising by Mincor Resources (“Mincor”). The investment increases Wyloo Metal’s holdings in the Company to 6.17%.

Wyloo Metals investment forms part of a landmark A$ 35 million capital raising, the proceeds from which will be used to:  

  • Commence early capital works at Cassini and Long-Durkin ahead of the expected completion of the Definitive Feasibility Study (“DFS”) in the March 2020 quarter as part of the Company’s Nickel Restart Strategy
  • Underpin an $8.0m exploration and Resource extension drilling programs in CY2020; and
  • Put the Company in a strong financial position as it seeks to commence pre-production activities, award key contracts and secure project finance.

Wyloo Metal’s is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.