Australian Mines Limited (AU:AUZ) has released an update.

Australian Mines Limited has expanded its operations into Brazil, targeting the battery metals sector amid a downturn in nickel and cobalt markets. The company’s recent exploration in the Jequie area has identified two high priority targets and increased its tenement holdings to over 131,000 hectares, making it a major player in the region. With a strong cash balance, Australian Mines has also completed a $3 million equity placement and is advancing its Resende Lithium project.

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