Critical Minerals Group raises US$970.6K placement to advance vanadium electrolyte strategy
What's the deal? Critical Minerals GroupDealroom has a profile for this one. Try Dealroom → (ASX:CMG) has raised US$970.6K before costs through a two-tranche share placement led by Harbour City Corporate.
The Brisbane-based company issued 20,689,655 new shares at US$0.05 each to sophisticated and professional investors.
Proceeds will fund offtake talks for vanadium electrolyte supply, planning for a Definitive Feasibility Study at its Lindfield Vanadium Project, and site selection for a proposed electrolyte facility.
Why now? CMG is courting vanadium flow battery makers and data centre customers, two sectors hungry for long-duration energy storage.
The cash also advances a Phase 1 facility producing 24 ML of electrolyte per year, with sites in New South Wales, the US, and the UK under review.
What could go wrong? The shares were sold at a steep discount — 14.71% below the June 17 close of US$0.06, and 32.68% below the 15-day volume-weighted average price.
Tranche 2, worth US$238.9K, still needs shareholder approval, as do options attached to the deal and shares issued to directors in lieu of US$78.3K in fees.
The signal: CMG sits squarely at the intersection of two of the energy transition's hottest themes — critical minerals and long-duration storage — pitching vanadium electrolyte to both flow battery makers and power-hungry data centres. For an early-stage developer, the steep discount on this raise underscores how much the market still wants to see firm offtake before it rewards the strategy.
Read more: Listcorp
