5E Resources Limited (SG:NLC) has released an update.
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5E Resources Limited has successfully allocated the S$8 million net proceeds from its IPO towards capital investment and general working capital. The funds have been spent on purchasing machinery, constructing a new plant in Malaysia, and covering various operational costs such as supplier purchases, staff costs, and utility bills. Additionally, a significant portion has gone towards the acquisition of industrial land.
For further insights into SG:NLC stock, check out TipRanks’ Stock Analysis page.
