American Rare Earths helps advancement at Halleck Creek with 13.5 million dollar private placement
Vancouver, Canada
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February 28, 2024 07:25 AM Eastern Standard Time
American Rare Earths Limited CEO Donald Swartz joined Steve Darling from Proactive to share significant news regarding the company's recent fundraising efforts. American Rare Earths has successfully secured firm commitments for a placement to raise 13.5 million Australian dollars.
This placement received strong support from both new and existing institutional, professional, and sophisticated investors, both domestically and offshore. The purpose of this capital raise is to further develop environmentally friendly and cost-effective extraction and processing methods.
These methods are crucial to meeting the rapidly increasing demand for resources essential to the clean energy transition and US national security. Swartz emphasized that this funding provides the company with the necessary capital to advance its flagship project, Halleck Creek, towards delivering a secure supply of critical minerals to the North American supply chain.
American Rare Earths remains dedicated to achieving its project development milestones with the support of its shareholders. The funds raised will support various activities related to the development of the Halleck Creek Rare Earths Project in Wyoming.
These activities include mineral resource and extensional drilling, pre-feasibility studies, metallurgical test work and process development, as well as heritage, permitting, and environmental activities.
Overall, this successful capital raise positions American Rare Earths to continue its progress towards becoming a key player in the critical minerals sector, contributing to both environmental sustainability and national security objectives.
Contact Details
Proactive USA
+1 347-449-0879
