OD6 Metals Acquires Quinn Fluorspar Project in Nevada, USA Amid Capital Raise
OD6 Metals Limited has signed an exclusive option agreement to acquire the Quinn Fluorspar Project in Nevada, comprising 48 mining claims. The project features high-grade fluorspar samples up to 94% CaF2. To fund this acquisition, OD6 has launched a A$3.4 million capital raise through a two-tranche placement. The deal includes staged payments and a royalty for the sellers. This strategic acquisition positions OD6 within the U.S. critical mineral supply chain, which is currently 100% import-dependent on fluorspar.
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OD6 Metals Limited has entered an exclusive option agreement to acquire the Quinn Fluorspar Project in Nevada, covering 48 mining claims. The project shows high-grade fluorspar with samples up to 94% CaF2 and potential for resource definition.
To finance the acquisition, OD6 has initiated a A$3.4 million capital raise through a two-tranche placement. The agreement includes initial payments of A$75,000 and A$200,000 upon exercising the option, with deferred payments contingent on milestones totaling A$3.8 million. The acquisition supports OD6's strategy in the U.S. critical mineral market, which is entirely reliant on imports for fluorspar.
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