Halloysite producer Applied Minerals acquires $14.5m financing

By James Sean Dickson
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 results.

Applied Minerals also received just under $2m financing from Boston, US-based investment firm IBS Capital LLC on Friday.

The funds are likely...

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