Estrella Resources (ASX: ESR) has received firm commitments from professional and sophisticated investors to raise $1,650,000 through a share placement.
Melbourne boutique advisory firm, Peak Asset Management, led the raise.
Following a recent unsolicited approach from a leading global mining group, the company will apply resources towards expanding the extensive lithium potential at its exciting Carr Boyd project in WA.
The company intends for the funds raised to be primarily used to investigate the lithium potential of the Carr Boyd Project tenure, continuing activities at Carr Boyd Ni/Cu Project, as well as general working capital.
The placement was managed by Peak Asset Management (PAM) with the assistance of participating brokers with an AFSL.