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Sipa Resources Limited ( (AU:AUV) ) has issued an announcement.
Auravelle Metals Limited has completed the second tranche of a share placement, issuing 23,446,953 new shares at 1.6 cents each to raise A$0.375 million, finalising a A$2.5 million capital raising approved by shareholders earlier in January. In conjunction with the placement notice, the company disclosed that it is in confidential, non-binding discussions to acquire a small tenement package adjacent to one of its existing projects, potentially involving a modest share-based consideration, underscoring its ongoing strategy to expand and optimise its exploration footprint in key Australian mining regions.
More about Sipa Resources Limited
Auravelle Metals Limited is an Australian-based mineral exploration company targeting precious, base and specialty metal deposits, with projects in South Australia and Western Australia. The company is currently prioritising gold exploration at its South Australian Gawler Craton projects and the Crown Project near Kalgoorlie, while actively managing its portfolio to maintain an efficient and cost-effective mix of exploration assets.
Average Trading Volume: 3,323,060
Technical Sentiment Signal: Buy
Current Market Cap: A$11.95M
Find detailed analytics on AUV stock on TipRanks’ Stock Analysis page.