Alvo Minerals Updates Entitlement Offer to Raise $2.93 Million

An announcement from Alvo Minerals Limited ( (AU:ALV) ) is now available.

Alvo Minerals Limited announced updates to its entitlement offer, adjusting the issue price of new shares to $0.05 and the exercise price of new options to $0.10. This offer aims to raise approximately $2.93 million, primarily for exploration and the potential acquisition of the Lavra Velha Gold Project. The company has outlined a plan for the use of funds, with a significant portion allocated to due diligence and exploration activities. The entitlement offer includes a shortfall facility, allowing eligible shareholders to apply for additional shares and options, with any remaining shortfall to be managed at the discretion of the company’s directors.

More about Alvo Minerals Limited

Alvo Minerals Limited is a company in the mining industry, focusing on projects such as the Palma VMS Cu/Zn Project, Bluebush Ionic Clay REE Project, and Ipora REE Project. The company is involved in mineral exploration and development, with a market focus on various regions including Australia, New Zealand, Brazil, and others.

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Technical Sentiment Signal: Strong Buy

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