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AusQuest Limited ( (AU:AQD) ) has provided an announcement.
AusQuest Limited announced a successful capital raising of A$10 million through a placement of approximately 212.8 million new shares, supported by both new and existing shareholders, including international resource-focused institutions. The funds will be used to expand Stage 3 drilling at the Cangallo Copper-Gold Project in Peru, aiming to extend mineralization and locate the center of the porphyry system, potentially enhancing copper grades. This strategic move is seen as a pivotal step in AusQuest’s growth strategy, reflecting strong market confidence in the project’s potential and marking a transformative phase for the company.
More about AusQuest Limited
AusQuest Limited is a company operating in the resource exploration industry, primarily focusing on copper and gold projects. Its flagship project is the Cangallo Copper-Gold Project located in Peru, a region known for its significant copper deposits.
Average Trading Volume: 2,389,448
Technical Sentiment Signal: Buy
Current Market Cap: A$80.28M
For a thorough assessment of AQD stock, go to TipRanks’ Stock Analysis page.