Listed lithium and gold play Firefinch was readying fund managers for an $80 million raise late Wednesday.
Street Talk. Louise Kennerley
The raise was expected to launch as early as Thursday morning, after investor soundings earlier this month.
Canaccord Genuity would be the lead manager, with Firefinch’s house broker Euroz Hartleys potentially also getting a role.
The raise comes two days after Firefinch’s release of a definitive feasibility study on its Goulamina lithium joint venture in Mali, which is due to be spun out into a listed company early next year.
The DFS said Firefinch had the potential to become the third largest lithium producer globally, and its project was development ready. The final investment decision was due end of 2021, with first production slated for early 2024.
