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An announcement from Alicanto Minerals ( (AU:AQI) ) is now available.
Alicanto Minerals has secured a non-dilutive funding package of up to A$18.1 million from Stria Lithium to accelerate drilling and resource growth at its Mt Henry Gold Project. The deal includes an upfront A$5 million cash payment and 4 million Stria shares in exchange for a 1% NSR royalty, with the potential for a further A$10 million investment if Alicanto reports a 2Moz JORC-compliant resource at a minimum 0.8g/t gold grade.
Following completion, Alicanto expects to hold around A$20 million in cash and A$3.1 million in listed securities, providing a strengthened balance sheet without equity dilution and preserving leverage to exploration success. Two diamond rigs are already drilling at Mt Henry and Selene, testing mineralisation that remains open along strike and at depth, while the Board has been reinforced with the appointment of experienced mining lawyer Amber Stanton as a non-executive director and the departure of long-serving director Didier Murcia.
The most recent analyst rating on (AU:AQI) stock is a Sell with a A$1.50 price target. To see the full list of analyst forecasts on Alicanto Minerals stock, see the AU:AQI Stock Forecast page.
More about Alicanto Minerals
Alicanto Minerals Limited is an ASX-listed mineral exploration and development company focused on advancing the Mt Henry Gold Project in Western Australia. The project currently hosts a 915,000oz gold resource, much of it within 100 metres of surface, and Alicanto is targeting significant resource growth through systematic drilling and project development activities.
Average Trading Volume: 268,227
Technical Sentiment Signal: Buy
Current Market Cap: A$269.6M
Learn more about AQI stock on TipRanks’ Stock Analysis page.