GROUP 6 Metals Limited advised the Australian Stock Exchange that the recent Share Purchase Plan announced to ASX in November last year which offered eligible G6M shareholders the opportunity to apply for up to A$30,000 of additional shares, per eligible shareholder, without incurring brokerage or transaction costs raised $4.5 million.
The offer was initially capped at $3 million, however, due to very strong demand, the maximum amount to be raised and the company accepted valid applications from shareholders totalling $4.47 million.
Proceeds of the SPP, together with the recently completed $20m placement, will primarily fund ongoing construction and operating activities at the Dolphin Tungsten Mine. G6M announced the appointment of Michael Zannes as Chief Financial Officer, effective March 6, 2023. Mr Zannes is a Certified Public Accountant with more than 20 years’ experience in the mining industry both in Australia and internationally.
G6M Managing Director and CEO Keith McKnight said: “We are delighted to attract an executive of Michael’s calibre to join Group 6 Metals.
“He brings a strong record of achievement in leading finance and operations teams which we are excited to see him apply towards his new role as Group 6 Metals’ CFO.
“This appointment is especially timely with the company now entering a critical growth phase as it works towards completion of construction and the commencement of production at the Dolphin Tungsten Mine.”
The latest heavy machinery CAT 777s arrived on the island and as in past practice have been named – Helga, Inga, Tora and Ursa. Caterpillar Inc. has produced the specifically designed for off-road CAT 777 dump truck since the 1970s and it has undergone several upgrades and improvements over the years to keep pace with evolving customer needs and technological advancements.
It is a rigid-frame truck with a maximum payload capacity of approximately 98 tons (89 metric tonnes). It is powered by a Caterpillar diesel engine that typically delivers around 850 horsepower and can reach a top speed of about 64 kmh. The truck is equipped with a spacious cab that offers a comfortable working environment for the operator, as well as a range of advanced safety and productivity features such as automatic traction control and a rearview camera system.