Technology Metals Australia (ASX:TMT) has secured $11.5M in funding from new strategic and institutional investors.

The funds raised will be used to progress its Murchison Technology Metals Project towards construction readiness and the progression of financing and customer engagement.

Technology Metals Australia is focused on the exploration and development of its flagship, 100% owned MTMP located 50km southeast of Meekatharra in the Mid-West of Western Australia.

The MTMP comprises the Gabanintha and Yarrabubba vanadium deposits and is one of the highest-grade vanadium projects in the world with the lowest quartile operating costs once developed.