Talga Resources Limited (ASX:TLG) has received $12.3 million gross in placements from a small group of institutions.
The high tech materials company which only planned to raise $12 million, will use the proceeds to deliver the company’s technology minerals strategy.
Talga will also use the funds to scale-up in Germany, expand its graphene product development team and facilities in the UK.
Talga’s placements are due to settle on Friday 9 June 2017.
Shares in Talga Resources Limited (ASX:TLG) are trading 6.62 per cent lower to 63.5 cents.