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Andromeda Metals Limited ( (AU:ADN) ) has issued an announcement.
Andromeda Metals Limited has announced a capital raising initiative to generate approximately $15.5 million, which includes a placement and a Security Purchase Plan (SPP). The funds will be utilized for the development of the Great White Project and the advancement of high-purity alumina (HPA) initiatives. The SPP offers eligible shareholders the opportunity to purchase new shares at a discounted price, with additional options available subject to shareholder approval. This capital raising is aimed at strengthening Andromeda’s operational capabilities and enhancing its market position in the mineral resources sector.
More about Andromeda Metals Limited
Andromeda Metals Limited operates in the mining industry, focusing on the development of mineral projects. The company’s primary products include high-purity alumina (HPA) and other mineral resources, with a market focus on advancing its Great White Project.
Average Trading Volume: 11,769,196
Technical Sentiment Signal: Sell
Current Market Cap: A$68.36M
Learn more about ADN stock on TipRanks’ Stock Analysis page.