Elementos (ASX:ELT) announced a binding agreement for a $29.5 million strategic placement with global investment manager L1 Capital.
The deal, priced at $0.34 per share, represents a 21.4% premium over the company's 2025 raising price, signaling strong institutional confidence in the miner’s asset portfolio.
Upon the expected settlement on Feb. 19, L1 Capital will emerge as a cornerstone investor, holding approximately 19.99% of the company's issued shares.
The primary injection of capital is earmarked for the continued advancement of the Oropesa Tin Project in Spain.
The funds will steer Oropesa through its final investment decision and project financing stages.
The investment supports the Robledollano Tin Smelter (Iberian Smelting) and ongoing assessments for restarting the Cleveland Tin Project in Tasmania.
Elementos' Chairman, Andy Greig, highlighted the "high conviction" nature of the investment, noting that L1 Capital joins Metals X as a second major institutional backer.
Greig emphasised that this placement not only strengthens the balance sheet but also solidifies Elementos' trajectory toward becoming the European Union’s only mine-to-metal tin supplier.
At the time of reporting, Elementos' share price was $0.44.