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  • Battery metals explorer and developer Pure Minerals (PM1) has locked up its shares ahead of a capital raise
  • Yesterday, Pure Minerals announced work at its Townsville Energy Chemicals Hub (TECH) Project is progressing well
  • TECH will process high-grade nickel-cobalt laterite ore to produce battery chemicals for the electric vehicle industry
  • Pure Minerals is aiming to develop the project into the world’s first zero-waste nickel and cobalt production facility
  • Whether or not the upcoming capital raise will support project development and further pilot plant work, is not yet certain
  • Company shares last traded for two cents on Wednesday, September 16

Battery metals explorer and developer Pure Minerals (PM1) has locked up its shares ahead of a capital raise announcement.

The company will remain in a trading halt until the earlier commencement of trading on Monday, September 21.

Yesterday, Pure Minerals announced work at its Townsville Energy Chemicals Hub (TECH) Project is progressing well. The TECH Project will process high-grade nickel-cobalt laterite ore to produce battery chemicals for the electric vehicle industry.

Pure's subsidiary, Queensland Pacific Metals' (QPM) partners in New Caledonia have prepared the bulk ore sample and it's ready for nickel and cobalt production at the pilot plant.

QPM also entered a memorandum of understanding with the James Cook University of Townsville to undertake joint studies for the TECH Project.

The TECH Project is aimed at becoming the world’s first zero-waste nickel and cobalt production facility.

"This step-change would be attractive to the end users of battery chemicals, international conglomerates who are focused on ensuring that their raw materials are responsibly sourced, both from an environmental and social perspective," the company stated.

Whether or not the upcoming capital raise will support project development and further pilot plant work, is not yet certain.

Company shares last traded for two cents on Wednesday, September 16.


Find out more about this capital raise


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