At a time where Russia is annexing four provinces of Ukraine and threatening the rest of the world to use nuclear force to defend these “new territories”, shortages are everywhere from energy to food to materials and inflation isn’t under control yet, the stock markets are waiting for the Fed to pivot on their hawkish interest rate policies.
Despite increasingly challenging market sentiment, driven by incredible inflation, looming rate hikes, and a Russian “special operation” that isn’t just blocking commodity transport from the Ukraine, and Europe’s natural gas supply but seems to drag China into it as well, since the US would like to see a tougher stance on Russia, Tectonic Metals (TECT:TSX-V; TETOF:OTCQB; T15B:FSE) managed to close their recent private placement at C$2.3M.
It is always a good sign of confidence when a large, well-known and widely followed shareholder like Crescat Capital decides to invest more into a tiny junior explorer via a strategic financing, even though they have been buying in the open market at higher cost levels increasing their ownership to 17.5% on a partially diluted basis.