$30 million institutional placement sets up Lunnon Metals for growth in 2022

Argonaut acted as Joint Lead Manager to a $30m institutional placement (“Placement”) for Lunnon Metals Ltd (ASX:LM8). The Placement was strongly supported by new institutional investors and existing shareholders.

Funds from the Placement will be applied towards resource definition, extensional and exploration drilling at the Kambalda Nickel Project, dewatering of the Foster nickel mine, feasibility studies and exploration at the recently acquired nickel rights at Silver Lake / Fisher (subject to the Acquisition completing).

Argonaut is delighted to support Lunnon Metals and looks forward to their ongoing success.