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Technology Metals Australia Australian S.E.

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TMT

AU000000TMT8

Technology Metals Australia Limited announced that it has received AUD 8 million in funding

December 01, 2020

On December 2, 2020, Technology Metals Australia Limited (ASX:TMT) closed the transaction. The company issued 22,857,142 shares in the transaction. The transaction is support by domestic and international investors, including Xu Jinfu. The transaction was approved by the board of directors in general meeting.

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Company Profile

Technology Metals Australia Limited is an Australia-based mineral exploration company. The Company is principally engaged in the exploration and development of vanadium resources in Western Australia. The Company is focused on the exploration and development of its 100% owned flagship project, Murchison Technology Metals Project (MTMP), which is located 50 kilometers southeast of Meekatharra in the Mid-West of Western Australia. The MTMP comprises the Gabanintha and Yarrabubba vanadium deposits. The Gabanintha deposit contains over 5.5 kilometers strike length of high-grade mineralization within a layered gabbro. Yarrabubba is a satellite deposit of the MTMP and represents an opportunity to leverage higher vanadium production early in the mine's development due to higher concentrate grades and an additional ilmenite by-product. Through its 100% owned subsidiary, vLYTE Pty Ltd (vLYTE), the Company is focused on the development of the vanadium flow battery industry in Australia.

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