(Ecofin Agency) - Vital Metals, active on Bouli gold project in Niger, announced on March 26 a fundraising of $3.8 million through the placement, in two tranches, of 422.2 million common shares worth $0.009 each.

The company will use the fund to fast-track exploration works on Bouli project and further its Watershed tungsten project in Queensland (Australia).

On Bouli project, where it has recently reported ultra-high grade results from works on Bella Tondi prospect, the company plans to realize more high-grade intersections.

Let’s note that the ASX-listed company headed by Mark Strizek also operates the Kollo gold project in Burkina Faso.