Alma Metals (ASX:ALM) announced financial results for the quarter ended 30 September 2022.

Alma Metals mobilised a drill rig to commence a 3,000m core drilling campaign in central Queensland.

A new EPM application (Don River EPM 28588) covering two blocks has been added to the joint venture area, expanding to the west of the Briggs deposit.

Entered into agreements with Balanggarra Aboriginal Corporation which allows Alma access to undertake initial reconnaissance exploration activities over approximately 1,000km2 of the East Kimberley, WA.

Completed a capital raising of $1.75M before costs via a placement at 1.0c per share including director participation of $160,000, which is subject to shareholder approval at the upcoming AGM.

Following the announcement the company?s share price rose 4.545%