Metal Bank Raises AU$2.42 Million to Advance Gold and Critical Minerals Projects.

Metal Bank Limited (ASX: MBK) successfully completed its non-renounceable Entitlement Offer, raising approximately AU$2.42 million before costs. The offer saw strong participation from existing shareholders, underwriter Equator Capital Management Ltd, and new institutional investors. Proceeds will be used to advance the company’s Western Australia gold strategy, including the Livingstone and Whiteheads projects, and to progress studies at the Millennium Copper-Cobalt-Graphite Project in Queensland. The funds will also support working capital and exploration activities.

Executive Chair Inés Scotland expressed appreciation for investor confidence as MBK transitions toward becoming a revenue-generating gold and critical minerals company. The company is also pursuing its broader growth strategy, which includes advancing projects in Saudi Arabia and South East Queensland, alongside evaluating the graphite potential within its Millennium project to strengthen its position in the critical minerals sector.

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