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Austin Metals Limited ( (AU:AYT) ) has issued an announcement.
Austin Metals Limited has announced a $3 million placement to accelerate exploration at its Austin Gold Project in Western Australia. The funds will be used to advance exploration efforts, particularly focusing on the Mt Sandy and Brunswick Hill Prospects, with drilling set to begin in early 2026. The placement was well-supported by investors and will be conducted in two tranches, with the first raising $1.98 million and the second subject to shareholder approval. This initiative aims to capitalize on new BIF-hosted gold targets, enhancing the company’s strategic position in the region.
More about Austin Metals Limited
Austin Metals Limited (AYT) is a gold and precious metals explorer focused on the prolific mining districts of Western Australia. The company’s flagship project, the Austin Gold Project, is located in the highly prospective Murchison greenstone province, adjacent to significant projects like Ramelius Resources’ Cue Gold Project and Caprice Resources’ Island Gold Project.
Technical Sentiment Signal: Sell
Current Market Cap: A$9.51M
For a thorough assessment of AYT stock, go to TipRanks’ Stock Analysis page.