Eastern Metals (ASX:EMS), soon to be renamed Raptor Metals (ASX:RAP), has recommenced trading on the Australian Securities Exchange following its acquisition of Raptor Resources.
The acquisition, which secures more than 90% of Raptor Resources' shares, marks a strategic shift into copper-focused exploration and provides the company with a premium portfolio of volcanogenic massive sulphide assets in New Brunswick's world-renowned Bathurst Mining Camp, a Tier-1 base metals jurisdiction.
Eastern Metals’ flagship Chester Project hosts a JORC-compliant mineral resource of 6.68 million tonnes at 1.092% copper, while the Turgeon Project offers high-potential early-stage exploration targets.
The company has raised $5 million at $0.02 per share to fund immediate drilling and exploration activities, supported by institutional, professional, and retail investors under lead manager Euroz Hartleys.
Managing Director Brett Wallace said, "Our strategy is clear: systematic exploration to delineate economic resources and deliver strong shareholder returns. Drilling at Chester will commence imminently, and we look forward to updating the market on our progress."
Eastern Metals’ Canadian assets benefit from modern infrastructure, proven mineralisation, and proximity to historical mines.
At the time of reporting, Eastern Metals' share price was $0.030.