Metalicity Limited ( (AU:ARI) ) has provided an update.
Arika Resources Limited has announced a successful $5 million capital raising to accelerate exploration at its Yundamindra and Kookynie Gold Projects in Western Australia. The capital raising, which was oversubscribed, includes participation from prominent Australian institutions and company directors, reflecting strong investor confidence. The funds will support extensive drilling and exploration programs to test high-grade targets, with drilling set to commence imminently. This move positions Arika to enhance its operational capabilities and strengthen its market position in the gold mining sector.
More about Metalicity Limited
Arika Resources Limited is a company operating in the mining industry, focusing on gold exploration and development. Its primary projects are the Yundamindra and Kookynie Gold Projects located in Western Australia, where it aims to expand its operations and unlock regional potential.
Technical Sentiment Signal: Strong Buy
Current Market Cap: €9.69M
See more data about ARI stock on TipRanks’ Stock Analysis page.