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Austral Gold ( (AU:AGD) ) has provided an update.
Austral Gold has completed an A$8.456 million private placement, issuing 46,977,778 new shares at A$0.18 each to Australian sophisticated and institutional investors. The raising, led by Aitken Mount Capital Partners, was conducted under the company’s existing placement capacity and is seen by management as an endorsement of its operational strategy in Argentina and Chile.
The company plans to use the proceeds to accelerate exploration near its 100%-owned processing facilities, including the Manantiales project in Argentina and the Juncal project in Chile. Funds will also support capital expenditure to expand milling capacity at Casposo and increase agitation leaching capacity at Guanaco, as well as general working capital, potentially strengthening Austral’s production base and growth trajectory in the region.
The most recent analyst rating on (AU:AGD) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Austral Gold stock, see the AU:AGD Stock Forecast page.
More about Austral Gold
Austral Gold Limited is a growing gold and silver mining producer focused on building a portfolio of quality assets in the Americas. The company operates producing and exploration assets, including the Casposo mine in Argentina and the Guanaco operation in Chile, and also holds equity investments such as a stake in ASX-listed Unico Silver.
YTD Price Performance: 21.21%
Average Trading Volume: 559,540
Technical Sentiment Signal: Buy
Current Market Cap: A$127.3M
Find detailed analytics on AGD stock on TipRanks’ Stock Analysis page.