Halloysite producer Applied Minerals acquires $14.5m financing
Published: Monday, 10 November 2014
A series of growing yearly losses have resulted in a continuous financing requirement from investors. Applied Minerals will wish to convert to profitability in production of the ceramic industry mineral soon, before investors tire.
Halloysite miner Applied Minerals Inc. has
acquired $12.5m capital in a private placement deal, shoring up
its financial position after a series of losses in its
Applied Minerals also received just under
$2m financing from Boston, US-based investment firm IBS Capital
LLC on Friday.
The funds are likely...