RE:RE:Critical Elements Corp. Announces First Closing of $300,000
It is an unusal announcement. It suggests more money will be raised in the future and implies that the PP was not fully subcribed but doesn't say so. A successful private placement would not leave the retail investor hanging like this but I suspect that Mgmt had no choice. It is enough to limp along and provide some hope for the long and strong crowd but not enough to do anything meaningful.
Lots of miners are more advanced in their development than CRE and are going to be able to capitalize on the battery storage demand that is anticipated with TESLA and others. New technologies are being developed to improve the speed of recovery of Lithium from brine solutions. I don't know how anyone can see this PP as a hopeful (albeit predictable) development.