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Audalia Resources Limited ( (AU:ACP) ) has shared an update.
Audalia Resources Limited has completed a A$540,000 share placement to a sophisticated investor, issuing 20 million fully paid ordinary shares at A$0.027 each to fund ongoing work at its Medcalf Project and bolster working capital. The proceeds will support mining design, permitting, secondary approvals and evaluation activities, while the company continues to pursue additional funding options and confirmed that the new shares can be freely traded under applicable Australian securities law exemptions, signalling progress in de-risking and advancing the Medcalf development for stakeholders.
The most recent analyst rating on (AU:ACP) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Audalia Resources Limited stock, see the AU:ACP Stock Forecast page.
More about Audalia Resources Limited
Audalia Resources Limited is an ASX-listed resources company focused on developing its Medcalf Project, with activities centred on mining design, permitting and related evaluation work to advance the project toward production.
Average Trading Volume: 42,043
Technical Sentiment Signal: Sell
Current Market Cap: A$18.68M
For detailed information about ACP stock, go to TipRanks’ Stock Analysis page.