- Vulcan has received firm commitments to raise A$120 million (before costs) through a strongly supported placement at A$6.50 per share to a suite of ESG-focused institutions. Goldman Sachs and Canaccord Genuity acted as Joint Lead Managers.
- Proceeds from the Placement will support Vulcan through to final investment decision at its Zero Carbon Lithium® Project, with funds being applied to:
- Project development, feasibility study costs and permitting
- Drill site acquisition and preparation
- Strategic opportunities to accelerate project development
- Upon settlement of the Placement, Vulcan will have a cash balance (before costs of the Placement) of ~A$125 million