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The latest update is out from GTI Resources Ltd ( (AU:AMU) ).
American Uranium Ltd has launched a non-renounceable rights issue to raise up to approximately $2.58 million before costs through the offer of up to 21,552,877 new shares to eligible shareholders in Australia, New Zealand, and Canada. Shareholders on the 28 April 2026 record date can subscribe for one new share for every six held at $0.12 per share, with a 1-for-2 free attaching option exercisable at $0.16 expiring in June 2029, and all new shares will rank equally with existing stock.
The capital raised will fund resource expansion, infill and expansion drilling, and hydrogeological and metallurgical studies at the Lo Herma ISR Uranium Project, as well as landholding, offer costs, and working capital. The entitlement offer is positioned as a key step in advancing Lo Herma toward a planned Q3 2026 scoping study, signalling continued progression of the company’s flagship uranium project and potential value creation for participating shareholders.
More about GTI Resources Ltd
American Uranium Ltd is an ASX-listed uranium exploration and development company focused on in-situ recovery (ISR) uranium projects. Its primary asset is the Lo Herma ISR Uranium Project, where the company is undertaking resource expansion, infill drilling, and technical studies to advance the project toward economic evaluation.
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.