December 12, 2022 – RiverFort are pleased to announce that Pivotal Metals Limited (formerly Rafaella Resources) has entered into a convertible bridge loan agreement of A$1m alongside a 3rd party equity placement of A$3.3m.
Pivotal Metals is an explorer and developer of world-class mineral deposits in Canada and Spain. The financing helped the Company to complete its C$4m Horden Lake acquisition in Quebec, Canada.
Pivotal’s Canadian portfolio now contains “a JORC compliant pit constrained resource of 27.8Mt at 1.49% CuEq, comprising copper, nickel, palladium and gold with further upside to come following work in 2023 to incorporate known occurrences of silver and cobalt.”
For more information regarding the financing, please visit the ASX’s website for the 12th December 2022 announcement (https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02611212-6A1127822?access_token=83ff96335c2d45a094df02a206a39ff4)