Alvo Minerals secured A$4.2 million in a strategic placement with Ore Investments, acquiring a 19.9% stake at 17.5 cents per share.

The funds will fuel drilling in priority targets at the Palma Cu-Zn Project and advance Bluebush and Ipora Ionic Rare Earth Element projects in Central Brazil.

Ore Investments gains the right to nominate a director to Alvo's board.