QIC invests $8m to support Iltani Resource’s silver-indium project
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The news: The Queensland Investment Corporation’s Critical Minerals and Battery Technology Fund has invested $8 million in silver and base metals explorer Iltani Resources to advance the Orient Silver-Indium project in Northern Queensland.
The numbers: The investment will consist of $6 million in upfront, non-dilutive funding tied to royalties from future product sales as well as a $2 million equity investment which is subject to shareholder approval.
The context: Iltani told the exchange that the funds will “facilitate the rapid acceleration of project development and continued exploration activities at the Orient Silver-Indium Project”.
The first mineral resource estimate for the Orient West deposit was announced to the exchange at the end of July and expects to announce the first mineral resource estimate for the Orient East deposit soon.
The source: ASX
