Thomson Geer advised lithium explorer and mine developer Red Dirt Metals Limited (ASX:RDT) on its successful A$60 million capital raising to further development of its flagship mining project. The capital raising involves a two-trance placement to raise A$55 million and a share purchase plan to raise up to an additional A$5 million.
Red Dirt is focused on bringing high-quality, lithium-bearing pegmatite deposits located in Western Australia into production.
The funds raised from the capital raise will be used to accelerate exploration, feasibility and development works at Red Dirt's Mt Ida and Yinnetharra Lithium Projects.
The team included Partner, Michael Bowen and Lawyer, Sarah Urquhart.