ADMLF - Adriatic Metals secures funding for its biggest-ever drill program
(NewsDirect)
Adriatic Metals PLC (LSE:ADT1, ASX:ADT,OTCQX:ADMLF) chief executive Paul Cronin speaks to Thomas Warner fromProactive after announcing that the precious and base metals developerhas raised £25.1 million of new capital in a share placing aimed atfunding an expanded and accelerated exploration programme at Rupiceand Rupice Northwest deposits in Bosnia and Herzegovina.
The placing follows the recent news fromAdriatic that it has upgraded its resource estimate for Rupice, nearlydoubling the indicated tonnes and increasing the grade significantly.Cronin explains that the new funding will be put to use funding a45,000-meter drill program, the largest to date, to commence in2024.
He goes on to emphasise the importance of maximising thedeposit's value in its early years to ensure financial capacityfor future growth opportunities, and says that "a lot of work isgoing on, and its been a lot of work over the last six years, but itsbeen tremendously rewarding and we're pretty excited aboutit."
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