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The latest announcement is out from Askari Metals Limited ( (AU:AS2) ).
Askari Metals Limited has announced a non-renounceable entitlement issue to raise approximately $1.5 million through the issuance of new shares and options. The funds will be directed towards exploration, debt repayment, and working capital. This move is expected to enhance Askari’s financial position and support its ongoing exploration initiatives in Southern Africa. The offer is available to shareholders in Australia and New Zealand, while ineligible shareholders outside these regions will not participate due to regulatory considerations.
More about Askari Metals Limited
Askari Metals is a Southern African exploration company focused on developing its Uis Lithium Project in Namibia and the Nejo Gold and Copper Project in Ethiopia. The Uis project is strategically located near the operating Uis Tin-Tantalum-Lithium Mine and close to the Walvis Bay port. The Nejo project, situated along the Arabian-Nubian Shield, offers significant opportunities for gold and copper exploration. The company is also considering divesting its Australian gold and copper projects.
Average Trading Volume: 4,096,676
Technical Sentiment Signal: Hold
Current Market Cap: A$10.78M
For an in-depth examination of AS2 stock, go to TipRanks’ Overview page.