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Arras Minerals Corp ( (TSE:ARK) ) just unveiled an update.
Arras Minerals Corp has successfully closed an upsized financing round, raising approximately C$16.1 million through brokered and non-brokered private placements. The financing was oversubscribed, with significant participation from both new and existing shareholders, including Teck Resources Limited, which increased its ownership to 9.9%. The funds will be used to finance the company’s exploration projects in Kazakhstan, particularly the Phase 2 exploration program at the Elemes Project, providing Arras with the flexibility to expand its operations well into 2026.
More about Arras Minerals Corp
Arras Minerals Corp is a Canadian exploration and development company focused on advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Elemes copper-gold porphyry project and the Beskauga copper and gold project.
YTD Price Performance: 162.07%
Average Trading Volume: 271,585
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$76.39M
See more insights into ARK stock on TipRanks’ Stock Analysis page.