Argonaut has acted as Joint Lead Manager to Vital Metals Limited in its oversubscribed placement of A$5 million to ramp up exploration in Burkina Faso through a series of drilling programs.  The fund raised was underpinned by strong support from international and domestic institutional and sophisticated investors, resulting in an oversubscribed Placement which was also used to reduce their Macquarie bank loan facilities.

Vital Metals Limited (ASX:VML) is an Australian mining company and producer of mixed rare earth oxide focused on exploration and development projects in Africa and Canada, including the Wigu Hill rare earth resource in Tanzania, East Africa and the world-class rare earth Nechalacho North T Zone project in the Mackenzie mining district of the Northwest Territories, Canada.