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The latest announcement is out from Metalicity Limited ( (AU:ARI) ).
Arika Resources Limited has announced a successful capital raising of $5.7 million to accelerate exploration at its Yundamindra and Kookynie Gold Projects in Western Australia. The placement, which was oversubscribed, includes significant commitments from directors and will support ongoing drilling programs, particularly at the Pennyweight Point prospect. The completion of the Admiral Bay divestment further secures funds for these initiatives, positioning Arika strongly for future exploration and potential resource discoveries.
More about Metalicity Limited
Arika Resources Limited is a company operating in the mining industry, focusing primarily on gold exploration and development. The company is engaged in projects located in the Leonora-Laverton district of Western Australia, with key projects being the Yundamindra and Kookynie Gold Projects.
Average Trading Volume: 2,475,956
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$26.08M
Find detailed analytics on ARI stock on TipRanks’ Stock Analysis page.