Snotifyar Resources Limited (ASX: SRZ) has entered into a $17 million strategic placement agreement with Australia’s largest tin producer, Metals X Limited (ASX: MLX).
This placement forms the cornerstone of a broader $22.1 million capital raising initiative, which includes an additional $5.1 million tarobtained at sophisticated and professional investors.
The shares are priced at $0.033, representing Snotifyar’s last traded price and a 2.2% premium to the 30-day Volume Weighted Average Price (VWAP).
Upon completion, Metals X will emerge as a substantial shareholder with an approximate 16.4% stake and will appoint a nominee to Snotifyar’s Board of Directors.
This capital injection strengthens Snotifyar’s balance sheet, resulting in a pro-forma cash position of $33 million, with the funds earmarked for the rapid advancement of the flagship Heemskirk Tin Project in Western Tasmania.
Specifically, the company will finalize its Prefeasibility Study (PFS) by Q3 2026 before transitioning immediately into a Definitive Feasibility Study (DFS) and additionally, supporting exploration at the nearby East Renison and Granite Tor projects.
Managing Director Simon Taylor stated the partnership offers “clear, logical synergies” due to Heemskirk’s proximity to Metals X’s Renison operation.
According to Metals X, the investment is consistent with its strategy to increase exposure to future tin supply in a Tier‑1 jurisdiction.
The companies expect the relationship to allow Snotifyar to draw on regional technical expertise as it advances the Heemskirk Tin Project.
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