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GTI Resources Ltd ( (AU:AMU) ) just unveiled an announcement.
American Uranium Limited has secured A$2.64 million through a placement of 22 million shares at A$0.12 each, following the recent resource upgrade at its Lo Herma ISR uranium project in Wyoming. The placement, which saw strong demand and included participation from strategic investor Frontier Nuclear and Minerals, also includes free attaching options subject to shareholder approval.
The company plans a non-renounceable pro-rata entitlement offer to raise up to a further A$2.58 million on the same pricing and option terms for eligible Australian and New Zealand shareholders. Proceeds from both the placement and the planned rights issue will fund infill and expansion drilling, hydrogeological and metallurgical studies, property acquisitions, and completion of a Lo Herma scoping study targeted for Q3 2026, supporting project advancement and strengthening its position in the uranium sector.
The most recent analyst rating on (AU:AMU) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on GTI Resources Ltd stock, see the AU:AMU Stock Forecast page.
More about GTI Resources Ltd
American Uranium Limited is an ASX-listed uranium exploration and development company focused on its 100%-owned Lo Herma in-situ recovery (ISR) uranium project in Wyoming. The company targets growth in U.S. uranium resources, with an upgraded Lo Herma mineral resource of 9.45 million pounds eU3O8, 43% of which is in the Indicated category, at an improved average grade of 720 ppm eU3O8.
Average Trading Volume: 154,362
Technical Sentiment Signal: Sell
Current Market Cap: A$15.53M
For a thorough assessment of AMU stock, go to TipRanks’ Stock Analysis page.