Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from Mitre Mining Corporation Limited ( (AU:ASL) ).
Andean Silver Limited has doubled its share purchase plan to A$6 million after applications from eligible shareholders reached approximately A$18 million, far exceeding the original A$3 million target and prompting a scaled-back, tiered allocation to limit dilution. Together with a recent placement, the company will have about A$61 million in cash before costs to accelerate drilling, advance project studies, pursue potential land-right acquisitions near its Cerro Bayo Silver-Gold Project and support working capital, a funding boost that underpins its strategy for a capital-light restart and strengthens its position in the silver market.
The most recent analyst rating on (AU:ASL) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Mitre Mining Corporation Limited stock, see the AU:ASL Stock Forecast page.
More about Mitre Mining Corporation Limited
Andean Silver Limited is an Australia-listed precious metals company focused on the Cerro Bayo Silver-Gold Project. Leveraging significant existing infrastructure at Cerro Bayo, the company is positioning itself as a capital-light silver producer, aiming to rapidly advance resource growth, conversion and regional exploration activities in the silver-gold sector.
Average Trading Volume: 1,778,223
Technical Sentiment Signal: Buy
Current Market Cap: A$495.3M
See more insights into ASL stock on TipRanks’ Stock Analysis page.