GreenX Metals to Start Airborne Survey at Germany Project, Raises AU$4.6 Million via Placement

MT Newswires Live

May 19

GreenX Metals (ASX:GRX) will start an airborne geophysical survey in the coming weeks at its Tannenberg copper project in Germany, according to a Monday filing with the Australian bourse.

The fully permitted survey will collect magnetic and radiometric data over the project area and is expected to be completed within one week, the filing said.

Results from the survey will be used to plan future exploration programs, the filing added.

Additionally, GreenX said it has raised about AU$4.6 million through placement via the issue of 7.1 million new ordinary shares to new and existing investors at AU$0.65 per share.

The placement will settle on May 23, with shares expected to be issued on or around May 26.

Proceeds from the placement, along with existing cash reserves, will be used for working capital and business development purposes.

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