Technology Minerals PLC (LSE:TM1) CEO Alex Stanbury speaks to Thomas Warner from Proactive London after the company announced its entry into a £5mln convertible loan facility with CLG Capital. Stanbury explains that the strategic move is designed to bolster the company's financial stability and operational capability, particularly in light of an impending reverse takeover.
Stanbury emphasises that the new funding arrangement provides both immediate capital access and long-term financial assurance, crucial for maintaining operational momentum and preparing a robust working capital statement for the prospectus. He also explains that Technology Minerals chose this fundraising method for its flexibility and potential to minimise equity dilution.
The convertible loan agreement includes a 40-day lockup period before CLG can convert, protecting the company’s share price from immediate impact. This decision reflects Technology Minerals' commitment to enhancing shareholder value and managing market dynamics effectively.
The interview also sheds light on Technology Minerals’ operational expansion, highlighting the appointment of Anwar Sattar as the new Scientific Director. Sattar's expertise in battery technology is set to advance the company’s recycling capabilities, particularly in black mass separation.
This development is part of Technology Minerals' broader strategy to establish a circular economy within the UK, focusing on recycling and upscaling critical battery components like nickel, cobalt, lithium, and manganese.
