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Adavale Resources Announces Proposed Share Consolidation

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Adavale Resources Announces Proposed Share Consolidation

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Adavale Resources Limited ( (AU:ADD) ) has issued an update.

Adavale Resources Limited has announced a proposed consolidation of its issued capital, aiming to consolidate every 20 securities into one, subject to shareholder approval. This move is intended to create a more effective capital structure and make the share price more appealing to a broader range of investors, particularly institutional ones. The consolidation is not expected to materially change the aggregate value of each security holder’s holding or the company’s market capitalization. The company continues to advance its Parkes Gold and Copper Project, with plans to extend its maiden resource and deliver an exploration target in the near term.

More about Adavale Resources Limited

Adavale Resources Limited is an Australian junior explorer focused on gold and copper exploration in the Lachlan Fold Belt of New South Wales.

Technical Sentiment Signal: Sell

Current Market Cap: A$4.57M

Find detailed analytics on ADD stock on TipRanks’ Stock Analysis page.

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