Pilbara Minerals (ASX:PLS) raises $60.6M for Lithium Project

Company News

by Melissa Darmawan

Pilbara Minerals (ASX:PLS) has raised approximately $60.6 million for their retail entitlement offer to help support the acquisition of all the shares in Altura Lithium Operations.

Altura Lithium Operations Pty Ltd owns Altura’s Pilgangoora Lithium Project.

Total proceeds raised from the entitlement offer were approximately $121.3 million including the proceeds from the institutional entitlement offer.

The acquisition looks likely to be completed around the 22 January 2021.

Shares in Pilbara Minerals (ASX:PLS) are trading 2.2 per cent lower at $1.13.