Zinc of Ireland raises capital for critical minerals

• Zinc of Ireland secured firm commitments to raise $3.2 million through a share placement.
• The placement shares were priced at $0.018 each, representing a 5.3% discount to the previous close.
• Proceeds will fund technology development, pilot plants, and mineral exploration at the Kildare Project.

Zinc of Ireland (ASX:ZMI) secured firm commitments from institutional and sophisticated investors to raise $3.2 million through a share placement.

The issue price is $0.018 per a 9.9% discount to the five-day volume-weighted average price of $0.020.

The placement involves issuing 180 million new ordinary shares around Oct. 16, with Taurus Capital Group acting as lead manager.

Proceeds will fund ARGO technology testwork, a VOLTA pilot plant commissioning, and drilling at the Kildare critical minerals project.

Following the announcement, the Zinc of Ireland share price was unchanged at $0.020.

The company aims to complete ARGO testwork for germanium, gallium, and indium extraction by the first half of 2027.

Zinc of Ireland also plans to target lead-acid battery recycling commercialisation in Europe from late 2026.