Shareholders have approved Cornish Lithium plc’s recent funding package of £53.6 million (US$67m) initial investment from institutional investors.
On 30 August, the investment received 99.98% of the votes at the company’s general meeting.
The money will progress the Trelavour hard rock lithium project to construction-ready status and fund the engineering design work for a demonstration-scale geothermal waters extraction facility.
A further retail offering for up to £6.9m through crowdfunding, with priority given to existing shareholders, is expected in September.