Arika Resources Plans Issue of 12 Million New Shares Under Proposed Placement

Metalicity Limited ( (AU:ARI) ) has issued an update.

Arika Resources Limited has lodged an Appendix 3B with the ASX outlining its intention to issue up to 12 million new fully paid ordinary shares via a placement or similar equity raising mechanism. The proposed securities issuance, scheduled with an issue date of 27 March 2031, signals the company’s move to access additional capital, which may be used to support future exploration, project development, or corporate activities and could lead to dilution for existing shareholders while potentially strengthening the balance sheet and funding growth initiatives.

The most recent analyst rating on (AU:ARI) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Metalicity Limited stock, see the AU:ARI Stock Forecast page.

More about Metalicity Limited

Arika Resources Limited, listed on the ASX under the code ARI, operates in the resources sector and is engaged in the exploration and development of mineral assets, positioning itself within Australia’s broader mining and commodities market.

YTD Price Performance: -3.03%

Average Trading Volume: 2,652,994

Technical Sentiment Signal: Sell

Current Market Cap: A$35.76M

Find detailed analytics on ARI stock on TipRanks’ Stock Analysis page.