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Askari Metals Limited ( (AU:AS2) ) just unveiled an update.
Askari Metals Limited has received a query letter from ASX concerning its recent capital raising and governance disclosures, including a non-renounceable entitlement offer and associated oversubscriptions used to fund exploration at its Nejo project. The exchange is examining the company’s handling of oversubscribed securities issued under placement capacity, an inadvertent issue of securities to an associated company of newly appointed non-executive director Martin Holland in potential breach of Listing Rule 10.11, and the accuracy and timing of director interest notifications under Listing Rules 3.19A and 3.19B, signaling heightened regulatory scrutiny over Askari’s compliance and internal controls around capital raisings and related-party dealings.
The most recent analyst rating on (AU:AS2) stock is a Sell with a A$0.01 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 Limited is an ASX-listed exploration company focused on mineral resource projects, including the Nejo project, and raises capital on the Australian market to fund its exploration activities.
Average Trading Volume: 2,309,812
Technical Sentiment Signal: Sell
Current Market Cap: A$9.23M
See more insights into AS2 stock on TipRanks’ Stock Analysis page.