Ark Mines Limited (ASX:AHK) Secures $4.5M Investment from QIC Critical Minerals
Investment Details
Ark Mines Limited has secured a $4.5 million investment from the QIC Critical Minerals and Battery Technology Fund to advance the Sandy Mitchell Rare Earth and Heavy Mineral Project in North Queensland. The investment includes $4 million in up-front funding tied to royalties from future product sales and a $500,000 equity investment, subject to shareholder approval.
Project Development
The funding will accelerate development activities, including stage-3 infill drilling and a comprehensive Pre-Feasibility Study scheduled for early 2026. Ark Mines targets production commencement in late 2027, creating approximately 80 local jobs. The company also aims to significantly increase the current Measured Mineral Resource Estimate at Sandy Mitchell.
Executive Comments
Managing Director Ben Emery stated, “We are pleased to announce this funding agreement with the QCMBTF, which follows an extensive period of engagement with the Fund and marks a significant step forward in our strategy to develop Sandy Mitchell through to production. With a busy works program scheduled for the second half of 2025, this investment provides Ark with an effective non-dilutive source of funding to accelerate development.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
