IRIS Metals Limited (ASX: IR1) has concluded its capital raising for A$15M as the final part of its re-compliance process.
IRIS has been re-complying with Chapters 1 and 2 of the ASX listing rules as required by the ASX and will be reinstated to quotation to the official list of the ASX on Wednesday 21 June 2023 at market open.
IRIS is now free to focus on its Lithium Project based in Custer, South Dakota, where it has a series of patented and BLM claims, effectively making it the only listed company with hard rock mining licences in the Black Hills of South Dakota.
The funding will be primarily utilized for resource drilling at the Beecher and Edison Lithium Projects, along with exploration of IRIS’ 2,387 Bureau of Land Management claims covering 20,300ha of highly prospective LCT pegmatite rich terrain. The Beecher Project includes the Longview, Black Diamond, and Beecher targets.
IR1 Chairman, Simon Lill, commented: “We have completed quite a lengthy process with many moving parts. We are grateful to the efforts of the Jett Capital team, the support of Waratah Capital Advisors and the IRIS team. We now look forward to commencing work and providing regular reports to the ASX on what we believe to be one of the more exciting lithium projects given that it has effectively hard rock mining licences over a known lithium bearing spodumene region.”
To find out more, please visit www.irismetals.com
