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Triton Minerals Raises $2M, Shortfall Interest Was "Significant"

Triton Minerals (ASX:TON) has now raised a total of $2,000,000 in new capital from a placement, a share purchase plan and take-up of a shortfall of the SPP.

Noting the significant interest in the shortfall, Triton's managing director Brad Boyle said he was "very encouraged by the support and interest it received to this round of funding".

The raising will fully fund Triton through the current exploration and drilling program of its key graphite project to completion in the Cabo Delgado Province of Mozambique.

The shortfall was placed with clients of Merchant Capital Markets Pty Ltd.

The first phase of the exploration program in Mozambique at the Balama North prospect (License 5365) has commenced.

The prospect is considered to be highly prospective, given close proximity to known graphite mineralisation at nearby Syrah Resources' (ASX: SYR) Balama East deposit.

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