Elementos Secures Nearly AU$30 Million Strategic Placement With L1 Capital; Shares Up 14%

MT Newswires Live

Feb 17

Elementos (ASX:ELT) has secured around AU$29.5 million through a strategic private placement with L1 Capital by issuing about 86.8 million new fully paid ordinary shares at AU$0.34 each, representing over 21% premium to its 2025 capital raising price, according to a Tuesday Australian bourse filing.

L1 Capital will hold roughly 19.99% of the company's total shares once the placement completes, which is expected to settle on or around Thursday, per the filing.

The funds will be used to advance the Oropesa tin project in Spain toward final investment decision and project financing, invest in Iberian Smelting, including the Robledollano tin smelter, continue assessing the potential restart of the Cleveland tin project in Tasmania, and cover general company expenses, the filing added.

The company's shares rose 14% in recent Tuesday trade.

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