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First Development Resources Plc ( (GB:FDR) ) has issued an announcement.
First Development Resources Plc has successfully raised £1,000,000 through an oversubscribed placing to accelerate exploration activities at its Selta project, focusing on rare-earth elements (REE) and gold. This strategic move aligns with the US-Australia Framework to secure critical mineral supplies, following China’s export restrictions on REEs. The funds will expedite REE exploration at Selta, develop gold drill targets, and support drilling activities at the Wallal project. The company’s proactive approach aims to enhance its market position and capitalize on geopolitical shifts, benefiting stakeholders and advancing its exploration programs.
More about First Development Resources Plc
First Development Resources Plc is a UK-based exploration company with a focus on mineral interests in Western Australia and the Northern Territory of Australia. The company owns eight tenements covering copper-gold, rare-earth element (REE), uranium, lithium, and gold projects. Their projects include the Wallal Project and others in the Paterson Province, known for gold-copper deposits, and the Selta Project, which is prospective for uranium and REE mineralization.
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