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Alice Queen Ltd. ( (AU:AQX) ) has provided an update.
Alice Queen Limited has secured binding commitments from unrelated investors for an additional $280,000 as part of an upsized second tranche of a previously announced placement. This funding is in addition to a $510,894.27 subscription from substantial shareholder Gage Resource Development under the same tranche, with all new securities to be issued within the company’s ASX placement capacity at $0.004 per share, plus free-attaching options.
The proceeds will be applied to updating the Horn Island Scoping Study, advancing exploration at the Viani Gold Project in Fiji, and supporting general working capital. By increasing the size of tranche two and moving to qualify the new shares and options for secondary trading via a prospectus, Alice Queen is strengthening its funding base to progress key gold projects and potentially enhance its exploration pipeline and future development options.
The most recent analyst rating on (AU:AQX) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Alice Queen Ltd. stock, see the AU:AQX Stock Forecast page.
More about Alice Queen Ltd.
Alice Queen Limited is an Australian exploration company focused on gold projects, including the Horn Island project and the Viani Gold Project in Fiji. Listed on the ASX under the ticker AQX, the company targets advancing its exploration assets through staged funding to progress studies and drilling activities in key gold districts.
Average Trading Volume: 5,423,714
Technical Sentiment Signal: Sell
Current Market Cap: A$22.6M
Find detailed analytics on AQX stock on TipRanks’ Stock Analysis page.