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The latest announcement is out from GTI Resources Ltd ( (AU:AMU) ).
American Uranium Ltd has launched a non-renounceable entitlement offer to raise capital through the issue of up to 21,552,877 new shares on a one-for-six basis at $0.12 per share, with a free attaching option for participants. The offer is open only to shareholders in Australia, New Zealand and Canada, with excluded shareholders notified they cannot participate due to regulatory cost considerations.
Funds raised will be directed to resource expansion, expansion and infill drilling, and hydrogeological and metallurgical studies at the Lo Herma ISR Uranium Project, as well as landholding costs, offer costs and working capital. The capital raising is intended to support the further delineation and technical de-risking of Lo Herma, potentially strengthening American Uranium’s project pipeline and positioning within the uranium sector.
More about GTI Resources Ltd
American Uranium Ltd is an ASX-listed resources company focused on uranium exploration and development, with its key asset being the Lo Herma in-situ recovery (ISR) Uranium Project. The company operates primarily in North America and is targeting growth through resource expansion and technical studies to advance its uranium projects.
Average Trading Volume: 185,168
Technical Sentiment Signal: Sell
Current Market Cap: A$16.63M
See more insights into AMU stock on TipRanks’ Stock Analysis page.