Brazilian Critical Minerals to raise $10M via placement

• Brazilian Critical Minerals has secured approximately $10 million through a two-tranche institutional share placement.
• The new shares were issued at $0.053 each, representing a 3.6% discount to the last traded price.
• The company will use the proceeds to advance engineering, design, and drilling at its Ema Project.

Brazilian Critical Minerals (ASX:BCM) secured firm commitments to raise approximately $10 million through an institutional share placement.

The new shares are priced at $0.055.

"The strong demand received from high-quality institutional investors for this placement is a clear endorsement of the quality of the Ema Project, which the BFS confirmed as the lowest capital cost rare earth project in the Western world with the potential to emerge as an important source of Western world rare earth supply," said Brazilian Critical Minerals Managing Director Andrew Reid.

The business stated that the funds will support engineering, design, and production well drilling at the site.

Following the announcement, the Brazilian Critical Minerals share price was unchanged at $0.055.

The funding round follows the completion of a bankable feasibility study for the Ema Rare Earths Project.

The company stated that the study confirmed a near-term development pathway with low upfront capital requirements.