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Blackstone Minerals gains new substantial holder in FIL Ltd

The company’s Ta Khoa Nickel project is well-positioned to become a low-cost nickel sulphate producer for the lithium-ion battery market.

Blackstone Minerals Ltd - Blackstone Minerals gains new substantial holder in FIL Ltd
Blackstone is a leading battery and precious metals exploration and development company

Blackstone Minerals Ltd (ASX:BSX) has gained a new substantial holder in FIL Ltd following the purchase of more than 19.611 million shares in transactions during August and September.

The Asian-based investment management services company now holds a 6.32% stake in Blackstone.

$17.82 million placement to support Ta Khoa nickel exploration

The company recently completed its placement on September 17 raising $17.82 million before costs to support ongoing exploration, resource drilling and future studies at the Ta Khoa Project in Vietnam.

Around 42,426,356 shares with an issue price of 42 cents per share were issued upon completion of the placement to sophisticated and professions investors.

Fidelity International has cornerstoned the capital raise with an $8 million investment.

Additionally, in recognition of the company’s existing retail shareholders, eligible shareholders have the opportunity to participate in a share purchase plan at the same issue price per share of 42 cents.

Quick facts: Blackstone Minerals Ltd

Price: 0.4 AUD

ASX:BSX
Market: ASX
Market Cap: $128.13 m
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