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Askari Metals Limited ( (AU:AS2) ) has shared an announcement.
Askari Metals has confirmed the completion of a 120 million share issue and notified investors that the securities were issued without a prospectus under the Corporations Act’s cleansing provisions, while affirming its compliance with key financial reporting and continuous disclosure obligations. The company disclosed an inadvertent breach of ASX Listing Rule 10.11 after securities from a recent non-renounceable rights issue were mistakenly allotted to an entity associated with newly appointed director Martin Holland, and is now working with the ASX and seeking legal advice to outline remedial steps in a forthcoming announcement, highlighting governance and compliance risks that may concern investors and regulators.
The most recent analyst rating on (AU:AS2) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Askari Metals Limited stock, see the AU:AS2 Stock Forecast page.
More about Askari Metals Limited
Askari Metals is a Southern Africa-focused exploration company primarily developing its Uis Lithium Project in Namibia, located along the Cape-Cross – Uis Pegmatite Belt near Andrada Mining’s operating Uis Tin-Tantalum-Lithium mine and close to the deep-water port of Walvis Bay. The company has also acquired the Matemanga Uranium Project in southern Tanzania near the Nyota Uranium Mine and is undertaking due diligence on additional uranium prospects, while considering divestment options for a portfolio of Australian gold, copper, lithium and rare earths projects.
Average Trading Volume: 2,224,164
Technical Sentiment Signal: Sell
Current Market Cap: A$8.46M
Learn more about AS2 stock on TipRanks’ Stock Analysis page.