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An update from Apollo Minerals Limited ( (AU:AON) ) is now available.
Apollo Minerals has raised approximately A$6.5 million through a share placement, comprising A$5.75 million from investors and around A$0.8 million from directors and officers, to fund exploration and development at its Couflens High Grade Tungsten Gold Project in southern France and to support working capital. The placement, priced at A$0.027 per share at a discount to the last close but at a premium to recent VWAPs, attracted strong backing from existing shareholders and will be executed in two tranches, strengthening the company’s balance sheet as it works to unlock the scale and regional exploration potential of the historically high-grade Salau tungsten mine and associated gold prospects.
The most recent analyst rating on (AU:AON) stock is a Hold with a A$0.03 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 focused on the exploration and development of high-grade tungsten and gold assets, with its flagship Couflens High Grade Tungsten Gold Project in southern France. The project incorporates the historic Salau mine, once among the world’s highest-grade tungsten operations, and also hosts significant gold mineralisation, positioning the company within the strategic critical minerals and precious metals markets.
YTD Price Performance: 200%
Average Trading Volume: 26,473,840
Technical Sentiment Signal: Hold
Current Market Cap: A$27.85M
See more insights into AON stock on TipRanks’ Stock Analysis page.