Apollo Minerals Director Increases Indirect Shareholding via Placement

Apollo Minerals Limited ( (AU:AON) ) just unveiled an update.

Apollo Minerals Limited has disclosed a change in the relevant interests of director Ian Middlemas, who holds his stake indirectly through Arredo Pty Ltd, where he is a director and shareholder. The filing outlines that Middlemas participated in the company’s recent share placement that was approved by shareholders.

Through this placement, Arredo Pty Ltd acquired 10,000,000 additional ordinary fully paid shares in Apollo Minerals for a consideration of $270,000, increasing Middlemas’s indirect holding from 44,400,000 to 54,400,000 shares. The transaction signals continued director support for the company’s capital-raising efforts and modestly increases insider ownership, which may be viewed as a vote of confidence by the market.

The most recent analyst rating on (AU:AON) stock is a Sell with a A$0.07 price target. To see the full list of analyst forecasts on Apollo Minerals Limited stock, see the AU:AON Stock Forecast page.

More about Apollo Minerals Limited

Apollo Minerals Limited is an ASX-listed resources company operating in the mining and exploration sector. The company focuses on acquiring and developing mineral assets, with its activities funded in part through equity placements to investors, including participation by its directors and related entities.

YTD Price Performance: 610.0%

Average Trading Volume: 15,372,435

Technical Sentiment Signal: Buy

Current Market Cap: A$89.05M

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