Core Lithium (ASX:CXO) announced a $120 million institutional placement, marking a critical milestone in the final investment decision for its Finniss Lithium Operation.
The capital raise, which saw robust demand from both new and existing institutional investors, was structured in two tranches at an offer price of $0.21 per new share.
The pricing reflects significant market confidence in the company’s strategic "restart" trajectory and overall value proposition within the critical minerals sector.
The placement is divided into an unconditional $53 million Tranche 1 and a $67 million Tranche 2, the latter of which remains subject to formal shareholder approval.
The fresh equity injection does not stand alone; it serves as a cornerstone for a larger, comprehensive funding strategy.
The $120 million complements a substantial US$120 million strategic funding package provided by a heavyweight syndicate comprising Glencore, InfraVia, and Nebari.
With the total restart package now fully funded, Core Lithium is poised to immediately trigger site mobilisation.
Proceeds are earmarked for accelerated development at the BP33 boxcut and decline, long-lead procurement, and general working capital.
The financial de-risking ensures that the Finniss operation remains strictly aligned with the development schedule outlined in the FID.
At the time of reporting, Core Lithium’s share price was $0.21.