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GTI Resources Ltd ( (AU:AMU) ) has issued an announcement.
American Uranium Limited has updated the timetable for its previously announced pro-rata non-renounceable entitlement offer, giving additional time to finalise and lodge a prospectus for free attaching options with ASIC. Eligible shareholders in Australia, New Zealand and Canada can subscribe for one new share for every six held at $0.12, plus a 1-for-2 free attaching option exercisable at $0.16, with the offer targeting up to $2.59 million before costs.
All new shares will rank equally with existing stock and will be quoted on the ASX, while the attaching options will remain unquoted. The capital raised is earmarked mainly for expansion and infill drilling, hydrogeological and metallurgical studies at the Lo Herma ISR Uranium Project, as well as landholding expenses, offer costs and general working capital, underlining the company’s focus on advancing its key U.S. uranium asset.
More about GTI Resources Ltd
American Uranium Limited is an ASX-listed uranium exploration and development company focused on in-situ recovery (ISR) projects, including the Lo Herma ISR Uranium Project. The company operates primarily in North America, targeting the growing market for nuclear fuel amid renewed interest in low-carbon energy sources.
Average Trading Volume: 184,751
Technical Sentiment Signal: Sell
Current Market Cap: A$12.32M
For detailed information about AMU stock, go to TipRanks’ Stock Analysis page.